Slide 1: ASSA ABLOY Q3 interim report 2025
Download our IR app ASSA ABLOY Q3 interim report 2025 Internal
Slide 2: Good growth and strong margin
Good growth and strong margin Good organic sales development – Good sales growth in EMEIA, Entrance Systems, Global Technologies and Americas – Sales decline in Asia Pacific Highest operating margin since Q3 2015 – Excellent operating leverage offsetting M&A and currency dilution Very strong c
Slide 3: Q3 2025 figures in summary
Q3 2025 figures in summary Sales EBIT* +2% +3% Sales MSEK 38,146 +2% – +3% organic sales 40 000 7 000 38 146 – +5% acquired and divested 38 000 37 418 – -6% currency 36 000 6 500 34 000 EBITA-margin* 17.9% (17.7%) 6 416 32 000 6 255 30 000 6 000 EBIT-margin* 16.8% (16.7%) 28 000 26 000 EBIT*
Slide 4: Sales by region Jul-Sep 2025
Sales by region ASSA ABLOY 100 8 3 Emerging markets 12 -3 -2 Jul-Sep 2025 31 10 2 55 10 5 6 1 -4 1 -26 -8 3 -3 1 4 7 3 Change in local currencies Organic change Share of sales, % QTD 2025 vs. QTD 2024, % QTD 2025 vs. QTD 2024, % Emerging markets follow IMF’s definition as per 2018-12-31 4 Internal
Slide 5: Several new digital products launched in the quarter
Several new digital products launched in the quarter Electromechanical products grew by 13% in Q3 Centrios Mortise Lock Yale Cornelius Facial Recognition DDL InVue OnePOD Max Americas expanded Centrios, their small to Americas launched new digital door lock Global Solutions launched a new high- medi
Slide 6: FX adjusted sales growth
FX adjusted sales growth Sales R12M +62% vs 2020 % MSEK 30 150 000 25 140 000 20 130 000 15 120 000 10 110 000 5 100 000 0 -5 90 000 -10 80 000 -15 70 000 -20 60 000 2020 2021 2022 2023 2024 2025 Organic growth, % Acquired growth, % Sales in fixed currencies R12M, MSEK 6 Internal
Slide 7: Operating margin
Operating margin 17.1% EBITA-margin run rate % Run rate: EBIT-margin 16.1% (15.9%) 19 18 17 EBIT long-term target range 16 15 14 13 12 11 10 2020 2021 2022 2023 2024 2025 Quarter EBIT Rolling 12-months EBITA Rolling 12-months Excluding items affecting comparability 7 Internal
Slide 8: Operating profit
Operating profit MSEK Run rate EBIT up 108% vs 2020 MSEK 7 000 25 000 22 500 6 000 20 000 5 000 17 500 15 000 4 000 12 500 3 000 10 000 2 000 7 500 5 000 1 000 2 500 0 0 2020 2021 2022 2023 2024 2025 Quarter Rolling 12-months Excluding items affecting comparability 8 Internal
Slide 9: Acquisitions
Acquisitions Active pipeline – 5 acquisitions completed in Q3 – 16 acquisitions completed as of September 2025 1 divestment completed – CitizenID – The acquisitions represent annualized sales of MSEK 4,900 (Kingspan Door (India JV) Components) 9 Internal
Slide 10: Calmell
Calmell Spanish manufacturer of smart cards, smart paper tickets and magnetic tickets Cards Will reinforce our offering within smart cards Smart Sales of MSEK 330 in 2024 tickets Accretive to EPS from the start Magnetic card 10 Internal
Slide 11: Opening Solutions EMEIA
Opening Solutions 16% EMEIA of Group sales Organic sales 4% – Strong sales growth in Central Europe and the Nordics 7 000 17% – Small sales growth in Middle East, India and Africa – Sales decline in UK/Ireland and South Europe 6 000 15% 5 000 Operating margin* 15.0% (14.5%) 13% – Good operating
Slide 12: Opening Solutions Americas
Opening Solutions 28% of Americas Group sales Organic sales +3% – Strong sales growth in the North America Non- 12 000 20% Residential segment – Sales decline in the North America Residential segment 10 000 and Latin America 19% 8 000 Operating margin* 18.5% (19.2%) 6 000 18% – Excellent operati
Slide 13: Opening Solutions Asia Pacific
Opening Solutions 5% Asia Pacific of Group sales Organic sales -4% – Good sales growth in Pacific & Northeast Asia 3 000 15% – Significant sales decline in Greater China & Southeast Asia 2 500 13% 2 000 10% Operating margin* 10.2% (7.9%) 1 500 8% – Excellent operating leverage (+260 bps) driven
Slide 14: Global Technologies
Global Technologies 18% of Group sales Organic sales +3% – Good growth in both HID and Global Solutions 22% 7 000 20% 6 000 18% 5 000 Operating margin* 19.8% (18.9%) 16% – Good operating leverage (+20bps) driven by price/cost, 4 000 positive mix and operational efficiencies 14% 3 000 – FX -70bps
Slide 15: Entrance Systems
Entrance Systems 33% of Group sales Organic sales 4% – Strong sales growth in Perimeter Security and 14 000 18% Pedestrian – Good sales growth in Doors & Automation1 and 12 000 17% Industrial – Strong sales growth in service 10 000 16% 8 000 15% Operating margin* 17.4% (17.1%) – Excellent operat
Slide 16: Financial summary
FX & acquisition ‘run-rate’ effects in Q4 2025 Financial summary (31 Sep 2025): SALES FX: -9% M&A: 3% July-September* January-September* SEK M 2024 2025 Change 2024 2025 Change Sales 37,418 38,146 2% 110,586 114,102 3% - Organic growth 91 1,119 3% -1,020 2,671 3% - Acquired net growth 1,579 1,853 5%
Slide 17: Bridge analysis – Q3 2025
Bridge analysis – Q3 2025 MSEK Q3 2024 Organic Currency Acq/div Q3 2025 Growth 1% 3% -6% 5% 2% Sales 37,418 1,119 -2,243 1,853 38,146 Operating income* 6,255 455 -476 182 6,416 Operating margin, %* 16.7% 40.7% 21.2% 9.8% 16.8% Dilution/accretion 0.7 pts -0.2 pts -0.4 pts *Excluding items affecting c
Slide 18: Cost breakdown as % of sales – Q3 2025
Cost breakdown as % of sales – Q3 2025 QTD 2025 % QTD 2024 excl. acq/div Δ QTD 2025 Direct material -33.7% -32.9% +0.8 pts -33.0% Conversion cost -24.2% -24.1% +0.1 pts -23.9% Gross margin 42.1% 43.0% +0.9 pts 43.1% S, G & A -25.4% -25.8% -0.4 pts -26.3% EBIT* 16.7% 17.2% +0.5 pts 16.8% *Excluding i
Slide 19: Operating cash flow, MSEK
Operating cash flow, MSEK Quarter 12 months cash flow / EBT* = 107% 12 months 9 000 26 000 8 000 23 500 21 000 7 000 18 500 6 000 16 000 5 000 13 500 4 000 11 000 8 500 3 000 6 000 2 000 3 500 1 000 1 000 0 -1 500 2020 2021 2022 2023 2024 2025 Quarter, MSEK Cash rolling 12 months, MSEK EBT* rolling
Slide 20: Gearing % and net debt, MSEK
Gearing % and net debt, MSEK Net debt/EBITDA* 2.2 (2.3) Net debt Net debt/Equity 65% (66%) Gearing % 80 000 80 70 000 70 60 000 60 50 000 50 40 000 40 30 000 30 20 000 20 10 000 10 0 0 2020 2021 2022 2023 2024 2025 Net debt, MSEK Gearing, % *Excluding items affecting comparability 20 Internal
Slide 21: Earnings per share, SEK
Earnings per share, SEK Quarter 12 months 4,00 16 3,50 14 3,00 12 2,50 10 2,00 8 1,50 6 1,00 4 0,50 2 2020 2021 2022 2023 2024 2025 Quarter, SEK Rolling 12 months, SEK Excluding items affecting comparability 21 Internal
Slide 22: Conclusions
Conclusions Good organic sales growth of 3% Strong operating margin of 16.8% – Excellent operating leverage of 41% Very strong cash flow and cash conversion Uncertain market conditions Capital Markets Day November 19, 2025 Registration open assaabloy.com/investors 22 Internal
Slide 23: Q&A
Experience a safer and more open world The ASSA ABLOY Group is the global leader in.access solutions. Every day we help people feel safe, secure and experience amore open world. ASSA ABLOY
Slide 24: Appendix
Appendix Internal
Slide 25: Cost breakdown as % of sales
Cost breakdown as % of sales QTD 2025 YTD 2025 excl. excl. % QTD 2024 acquisitions Δ QTD 2025 YTD 2024 acquisitions Δ YTD 2025 Direct material -33.7% -32.9% +0.8pts -33.0% -33.7% -32.8% +0.9pts -32.8% Conversion cost -24.2% -24.1% +0.1 pts -23.9% -24.6% -24.3% +0.3 pts -24.3% Gross margin 42.1% 43.0
Slide 26: Opening Solutions EMEIA’s bridge
Opening Solutions EMEIA’s bridge MSEK Q3 2024 Organic Currency Acq/Div Q3 2025 Growth -1% 4% -4% 5% 5% Sales 6,010 258 -213 270 6 325 Operating income* 869 65 -5 22 951 Operating margin, %* 14.5% 25.3% 2.4% 8.0% 15.0% Dilution/accretion +0.4pts +0.4pts -0.3pts 12 months figures Sales 24,956 25,637 E
Slide 27: Opening Solutions Americas’ bridge
Opening Solutions Americas’ bridge MSEK Q3 2024 Organic Currency Acq/Div Q3 2025 Growth 1% 3% -8% 2% -3% Sales 11,214 277 -808 157 10,840 Operating income* 2,149 127 -175 -98 2,003 Operating margin, %* 19.2% 45.9% 21.6% -62.2% 18.5% Dilution/accretion +0.7pts -0.2pts -1.2pts 12 months figures Sales
Slide 28: Opening Solutions Asia Pacific’s bridge
Opening Solutions Asia Pacific’s bridge MSEK Q3 2024 Organic Currency Acq/Div Q3 2025 Growth -8% -4% -9% 0% -13% Sales 2,425 -98 -209 0 2,119 Operating income* 193 48 -23 0 217 Operating margin, %* 7.9% -49.0% 11.2% 0.0% 10.2% Dilution/accretion +2.6pts -0.3pts +0.0pts 12 months figures Sales 9,371
Slide 29: Global Technologies’ bridge
Global Technologies’ bridge MSEK Q3 2024 Organic Currency Acq/Div Q3 2025 Growth 10% 3% -6% 10% 7% Sales 6,313 193 -363 586 6,729 Operating income* 1,195 49 -117 203 1330 Operating margin, %* 18.9% 25.2% 32.2% 34.7% 19.8% Dilution/accretion +0.2pts -0.7pts +1.4pts 12 months figures Sales 23,571 25,8
Slide 30: Entrance Systems’ bridge
Entrance Systems’ bridge MSEK Q3 2024 Organic Currency Acq/Div Q3 2025 Growth 2% 4% -6% 7% 5% Sales 11,973 463 -682 840 12,595 Operating income* 2,047 242 -157 55 2,187 Operating margin, %* 17.1% 52.1% 23.0% 6.6% 17.4% Dilution/accretion +1.3pts -0.2pts -0.8pts 12 months figures Sales 47,800 51,424
Slide 31: Thank you
Thank you assaabloy.com Internal