Assa Abloy AB Series B

ASSA ABLOY provides a range of door opening solutions. Co. is organized into five divisions. Europe, Middle East and Africa division, Americas (North and South America) division and Asia Pacific (Asia, Australia and New Zealand) division manufacture and sell mechanical and electromechanical locks, security doors and hardware in their respective geographical markets. Global Technologies division operates worldwide in the product areas of access control systems, secure card issuance, identification technology and hotel locks. Entrance Systems division is a global supplier of entrance automation products and service.
  • TickerASSA B
  • ISINSE0007100581
  • ExchangeNasdaq Nordic Stockholm
  • SectorConstruction & Materials
  • CountrySweden

Analysts

Anders Idborg ...
  • Karl Bokvist
  • Olof Cederholm

Powerpoint Sector Report - The Capital Goods Data Miner – November 2019

Q3 reports held up better than expected and the sector rallied 15% over the results season. At the same time, demand indicators continue to be mostly negative and point to further pressure on estimates for 2020 (particularly if currency support would wane). We favour names with company-specific drivers and valuation support, and continue to be cautious on unusually expensive low-beta names. Our key long ideas are: Alfa Laval, Electrolux, Metso, Nokian Tyres We are cautious on: Assa Abloy, Autoliv, Kone, Nibe

1 director sold

A director at Assa Abloy Ab sold 13,342 shares at 231.450SEK and the significance rating of the trade was 81/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Azza Khalfallah
  • Bruno Cavalier
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Fehmi Ben Naamane
  • Geoffroy Michalet
  • Jerôme Bodin
  • Johanna Jourdain
  • Sylvain Goyon, CFA
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/21/2019

Whilst we continue to think that the durable outperformance conditions (growth, rise in interest rates) of value are not present, we nonetheless acknowledge that the market is what it chooses to believe. At present, it is considering a rotation in favour of value. Our basic model for explaining the growth/value performance, provides a glimpse for the first time since 2011 (!) of a shift (H1 2020) in favour of value. Caution is the byword, but meanwhile we reiterate our advice of 16 Se...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Azza Khalfallah
  • Bruno Cavalier
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Fehmi Ben Naamane
  • Geoffroy Michalet
  • Jerôme Bodin
  • Johanna Jourdain
  • Sylvain Goyon, CFA
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 21/10/2019

Si nous pensons toujours que les conditions de surperformance durable (croissance, hausse des taux) de la value ne sont pas réunies, nous reconnaissons aussi que le marché est ce qu’il veut croire. Et en ce moment, il s’interroge sur une rotation en faveur de la value. Notre modèle basique d’explication de la performance growth/value, sans envoyer un signal puissant laisse entre apercevoir pour la première fois depuis 2011 (!) une bascule (S1 2020) en faveur de la value. La prudence s...

Alfred Glaser ...
  • Delphine Brault

Assa Abloy : Q3 publication beat forecasts, the group outperforms its market

>Q3 2019: 3.8% organic growth and a stable EBIT margin - On Friday, Assa Abloy published Q3 2019 results, which came in 2% above forecasts, due to a higher-than-expected sales figure. Our takeaways are as follows:Organic growth was 3.8% including a price effect of close to 1.5% and, above all, a favourable impact from the number of working days (1 day). As has been the case over recent quarters, the Americas and Global Tech divisions made the biggest contribution...

ASSA ABLOY AB - December 2017 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

ASSA ABLOY AB - September 2017 (LTM): Peer Snapshot

Peer Snapshot:  ASSA ABLOY AB - September 2017 (LTM) 27 November 2017 (in US millions) FYE Dec-15 FYE Dec-16 LTM Sep-17 FYE Dec-15 FYE Dec-16 LTM Sep-17 FYE Jul-15 FYE Jul-16 LTM Jul-17

ASSA ABLOY AB: Update to discussion of key credit factors

CORPORATES CREDIT OPINION 9 October 2017 Update Contacts Oliver Giani 49-69-70730-722 VP-Senior Analyst [email protected] Daniel Harlid 46-850-256-546 AVP-Analyst [email protected] Matthias Hellstern 49-69-70730-745 MD-Corporate Finance [email protected] CLIENT SERVICES Americas 1-212-553-1653 Asia Pacific 852-3551-3077 Japan 81-3-5408-4100

ASSA ABLOY AB - June 2017 (LTM): Peer Snapshot

Peer Snapshot:  ASSA ABLOY AB - June 2017 (LTM) 24 August 2017 (in US millions) FYE Dec-15 FYE Dec-16 LTM Jun-17 FYE Dec-15 FYE Dec-16 LTM Jun-17 FYE Jul-15 FYE Jul-16 LTM Jan-17

ASSA ABLOY AB - March 2017 (LTM): Peer Snapshot

Peer Snapshot:  ASSA ABLOY AB - March 2017 (LTM) 26 May 2017 (in US millions) FYE Dec-15 FYE Dec-16 LTM Mar-17 FYE Dec-15 FYE Dec-16 LTM Mar-17 FYE Jul-15 FYE Jul-16 LTM Jan-17

Anders Idborg ...
  • Karl Bokvist
  • Olof Cederholm

Powerpoint Sector Report - The Capital Goods Data Miner – November 2019

Q3 reports held up better than expected and the sector rallied 15% over the results season. At the same time, demand indicators continue to be mostly negative and point to further pressure on estimates for 2020 (particularly if currency support would wane). We favour names with company-specific drivers and valuation support, and continue to be cautious on unusually expensive low-beta names. Our key long ideas are: Alfa Laval, Electrolux, Metso, Nokian Tyres We are cautious on: Assa Abloy, Autoliv, Kone, Nibe

Ahmed Ben Salem ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Azza Khalfallah
  • Bruno Cavalier
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Fehmi Ben Naamane
  • Geoffroy Michalet
  • Jerôme Bodin
  • Johanna Jourdain
  • Sylvain Goyon, CFA
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/21/2019

Whilst we continue to think that the durable outperformance conditions (growth, rise in interest rates) of value are not present, we nonetheless acknowledge that the market is what it chooses to believe. At present, it is considering a rotation in favour of value. Our basic model for explaining the growth/value performance, provides a glimpse for the first time since 2011 (!) of a shift (H1 2020) in favour of value. Caution is the byword, but meanwhile we reiterate our advice of 16 Se...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Azza Khalfallah
  • Bruno Cavalier
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Fehmi Ben Naamane
  • Geoffroy Michalet
  • Jerôme Bodin
  • Johanna Jourdain
  • Sylvain Goyon, CFA
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 21/10/2019

Si nous pensons toujours que les conditions de surperformance durable (croissance, hausse des taux) de la value ne sont pas réunies, nous reconnaissons aussi que le marché est ce qu’il veut croire. Et en ce moment, il s’interroge sur une rotation en faveur de la value. Notre modèle basique d’explication de la performance growth/value, sans envoyer un signal puissant laisse entre apercevoir pour la première fois depuis 2011 (!) une bascule (S1 2020) en faveur de la value. La prudence s...

Alfred Glaser ...
  • Delphine Brault

Assa Abloy : Q3 publication beat forecasts, the group outperforms its market

>Q3 2019: 3.8% organic growth and a stable EBIT margin - On Friday, Assa Abloy published Q3 2019 results, which came in 2% above forecasts, due to a higher-than-expected sales figure. Our takeaways are as follows:Organic growth was 3.8% including a price effect of close to 1.5% and, above all, a favourable impact from the number of working days (1 day). As has been the case over recent quarters, the Americas and Global Tech divisions made the biggest contribution...

Alfred Glaser ...
  • Delphine Brault

Assa Abloy : Le T3 s’est révélé supérieur aux attentes, le groupe surperforme son marché

>T3 2019 : 3.8% de croissance organique et marge d’EBIT stable - Assa Abloy a publié vendredi ses résultats T3 2019, qui étaient 2% au-dessus des attentes, du fait d’un chiffre d’affaires plus élevé que prévu. Nous retenons les éléments suivants :Une croissance organique de 3.8% dont près de 1.5% d’effet prix et incluant un impact jours ouvrés favorable (1 jour). Comme c’est le cas depuis plusieurs trimestres, les divisions Americas et Global Tech sont celles aya...

1 director sold

A director at Assa Abloy Ab sold 13,342 shares at 231.450SEK and the significance rating of the trade was 81/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board...

Alfred Glaser ...
  • Charles Lepetitpas
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Martial Descoutures
  • Nicolas David
  • Oussema Denguir

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/17/2019

At the road show that we organised in Paris, Eiffage’s management seemed particularly reassuring about the operating momentum (contracting volumes, trends in margins and motorway traffic) and its external growth strategy. We share this confidence and reiterate our Buy recommendation with a target price raised to € 110 (vs € 103). - Cf. equity report published this morning. - ...

Alfred Glaser ...
  • Charles Lepetitpas
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Martial Descoutures
  • Nicolas David
  • Oussema Denguir

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 17/09/2019

Lors du roadshow que nous avons organisé à Paris, le management d’Eiffage s’est montré particulièrement rassurant tant sur la dynamique opérationnelle (volumes de travaux, évolution des marges, trafic autoroutier) que sur sa stratégie de croissance externe. Nous partageons cette confiance et réitérons notre recommandation Achat avec un objectif de cours relevé à 110 € (vs 103 €). Cf. étude publiée ce jour. - ...

Alfred Glaser ...
  • Baptiste Lebacq
  • Charles Lepetitpas
  • Delphine Brault
  • Michael Foundoukidis
  • Nicolas David
  • Oussema Denguir
  • Pierre Corby
  • Salma Bouraoui
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 07/22/2019

...

Alfred Glaser ...
  • Benoit Valleaux
  • Bruno Cavalier
  • Delphine Brault
  • Florent Laroche-Joubert
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/22/2019

...

Alfred Glaser ...
  • Benoit Valleaux
  • Bruno Cavalier
  • Delphine Brault
  • Florent Laroche-Joubert
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 22/07/2019

...

ASSA ABLOY AB sees its risk increased and a downgrade to Neutral

ASSA ABLOY AB (SE), a company active in the Building Materials & Fixtures industry, increases its market risk and lowers its general evaluation. The independent financial analyst theScreener just requalified the stock market behaviour as moderately risky. On the other hand, theScreener awards a fundamental star to the title, but the new risk assessment downgrades the general evaluation to Neutral. As of the analysis date August 16, 2019, the closing price was SEK 215.20 and its expected value was estimated at SEK 212.93.

Ibrahim Firdaus

Assa Abloy

Ibrahim Firdaus

Assa Abloy

Ibrahim Firdaus

Assa Abloy

Ibrahim Firdaus

Assa Abloy

Expert Corporate Governance Service (ECGS)

Assa Abloy - 25 April 2019 AGM

In general, Assa Abloy is in compliance with the Swedish regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 11b, the nomination committee seeks approval of the auditors' fees. In view of the substantial amount of non-audit fees, ECGS recommends to vote OPPOSE. Under ITEM 12a, approval is sought for the (re-)election of the board of directors. In light of insufficient independent representation on the board of directors, ECGS recommends to vote OPPOSE. Under ITEM 12b, the nomination committee proposes to re-appoint PricewaterhouseCoopers as the ...

Assa Alboy – Proxinvest Corporate Governance Rating ® : D

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

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