Assa Abloy Ab Class B · OMXSTO:ASSA_B
Assa Abloy Ab Class B — Q2 2026 Earnings Presentation
32 slides from Assa Abloy Ab Class B's earnings presentation, Jul 17, 2026
Slide 1: ASSA ABLOY Q2 interim report 2026
ASSA ABLOY Q2 interim report 2026 ASSA ABLOY is the global leader in access solutions. Every day we help people feel safe, secure and experience a more open world.
Slide 2: Accelerated sales growth with record margin
Accelerated sales growth with record margin Good organic sales development • Strong sales growth in EMEIA • Good sales growth in Americas, Global Technologies and Entrance Systems • Decline in APAC Record high EBIT margin • Excellent operating leverage Very strong cash flow improvement • Increase of
Slide 3: Q2 2026 figures in summary
Q2 2026 figures in summary Sales MSEK 39,259 3% Sales, MSEK EBIT*, MSEK +4% organic 39 259 +2% net acquired 38 015 -3% FX effects EBITA margin* 18.1% +90 bps 6 680 EBIT margin* 17.0% +80 bps EBIT* MSEK 6,680 +9% 6 155 EPS* SEK 3.98 +12% Q2 2025 Q2 2026 3
Slide 4: Sales by region Apr-Jun 2026
Sales by region Apr-Jun 2026 33 8 4 53 6 4 6 -1 -2 Share of sales, % Change in local currencies 1 -11 -12 QTD 2026 vs. QTD 2025, % 3 3 2 4 5 5 Organic change QTD 2026 vs. QTD 2025, % Emerging markets organic growth excl. China +4% 4
Slide 5: Highlights from around the world
Highlights from around the world New product launch New partnership Project win Project win Kwikset and Weiser enter the padlock Yale announces partnership with Lodgify to For the 2026 World Cup, ASSA ABLOY is segment with a comprehensive portfolio for integrate smart locks across Europe with its pr
Slide 6: FX adjusted sales growth
FX adjusted sales growth Sales LTM* vs 2021 (adjusted for FX) +49% % MSEK 30 160 000 25 150 000 20 140 000 15 130 000 10 120 000 5 110 000 0 100 000 -5 -10 90 000 -15 80 000 -20 70 000 2021 2022 2023 2024 2025 2026 Organic growth, % Acquired growth, % Sales in fixed currencies LTM, MSEK 6
Slide 7: Operating margin
Operating margin EBITA %, LTM 17.6% EBIT %, LTM 16.5% 19% 18% 17% EBIT % target range 16% 15% 14% 13% 12% 11% 10% 2021 2022 2023 2024 2025 2026 EBIT, % quarterly EBIT, % LTM EBITA, % LTM 7
Slide 8: Operating income
Operating income EBIT LTM vs 2021 +76% MSEK MSEK 7 000 27 500 25 000 6 000 22 500 5 000 20 000 17 500 4 000 15 000 12 500 3 000 10 000 2 000 7 500 5 000 1 000 2 500 0 0 2021 2022 2023 2024 2025 2026 EBIT, quarterly EBIT, LTM 8
Slide 9: Acquisitions
Acquisitions The pipeline remains active • 5 acquisitions completed in Q2 • 8 acquisitions completed in H1 – Representing annualized sales of MSEK 2,500 • 400th acquisition completed in Q2! Grow the core Extend the core Acquisition targets Service and distribution New technologies 9
Slide 10: Rollerdoor
Rollerdoor A sectional door manufacturer based in Portugal • Strengthens our position in South Europe • Sales of MSEK ~640 in 2025 • Accretive to EPS from the start 10
Slide 11: Sentinel Dock & Door
Sentinel Dock & Door A commercial dock and door service company based in Canada • Strengthens direct channel presence, including service in Canada • Sales of MSEK ~960 in 2025 • Accretive to EPS from the start 11
Slide 12: Opening Solutions EMEIA
Opening Solutions Share of sales 17% EMEIA Organic sales +5% • Very strong sales growth in Central Europe and MEIIA 7 000 19% • Strong sales growth in the Nordics 6 000 17% • Small growth in South Europe 5 000 15% • Stable development in UK/Ireland 4 000 13% 3 000 11% EBIT margin* 16.5% (13.9%) 2 00
Slide 13: Opening Solutions Americas
Opening Solutions Share of sales Americas 29% Organic sales +4% • Strong sales growth in the North America Non-Residential segment 12 000 21% and Latin America 19% 10 000 • Small sales growth in the North America Residential segment 17% 8 000 15% 6 000 13% EBIT margin* 18.7% (18.6%) 11% 4 000 • Exce
Slide 14: Opening Solutions APAC
Opening Solutions Share of sales 5% APAC Organic sales -4% • Good sales growth in Pacific & Northeast 2 500 12% • Significant sales decline in Greater China & Southeast Asia 10% 2 000 8% 1 500 6% 1 000 EBIT margin* 9.2% (9.6%) 4% • Stable operating leverage (+0 bps) despite negative volume, driven b
Slide 15: Global Technologies
Global Technologies Share of sales 17% Organic sales +4% • Strong sales growth in Global Solutions 7 000 25% • Good sales growth in HID 6 000 20% 5 000 15% 4 000 3 000 10% EBIT margin* 19.7% (18.5%) 2 000 • Excellent operating leverage (+160 bps) driven by price/cost, positive 5% mix and positive on
Slide 16: Entrance Systems
Entrance Systems Share of sales 33% Organic sales +4% • Strong sales growth in Perimeter Security and Pedestrian 14 000 25% • Good sales growth in Industrial 12 000 20% • Small sales growth in Doors & Automation 10 000 • Good sales growth in service 15% 8 000 6 000 10% EBIT margin* 16.7% (16.5%) 4 0
Slide 17: Financial summary
Financial summary FX & acquisition ‘run-rate’ effects on sales in Q3 2026 (30 Jun 2026): FX: 0% M&A: 2% April – June 1) 2) January-June 1) 2) January-September* MSEK 2025 20262) Change 2025 2026 Change Sales 38,015 39,259 3% 75,955 75,010 -1% - Organic growth 945 1,341 4% 1,552 2,140 3% - Acquired n
Slide 18: Bridge analysis Q2 2026
Bridge analysis Q2 2026 Q2 2026 MSEK Q2 2025 Organic Currency Acq/div Q2 2026 ex acq/div Growth 0% 4% -3% 1% 2% 3% Sales 38,015 1,341 -965 38,391 868 39,259 EBIT* 6,155 683 -252 6,585 95 6,680 EBIT, %* 16.2% 50.9%1) 26.2% 17.2% 11.0% 17.0% 2) Dilution/accretion +1.2 pts -0.3 pts -0.1 pts Sales drive
Slide 19: Cost breakdown as % of sales – Q2 2026
Cost breakdown as % of sales – Q2 2026 % QTD 2025 QTD 2026 excl. acq/div Δ QTD 2026 Direct material -32.9% -32.6% +0.3 pts -32.8% Conversion cost -24.2% -24.2% 0.0 pts -24.2% Gross margin 42.9% 43.2% +0.3 pts 43.0% S, G & A -26.7% -26.0% +0.7 pts -26.0% EBIT margin* 16.2% 17.2% +1.0 pts 17.0% Direct
Slide 20: Operating cash flow
Operating cash flow Operating cash flow, LTM Operating Cash cash flow, LTM SEK 24 bn conversion, LTM 110% MSEK MSEK 9 000 25 000 8 000 22 500 7 000 20 000 6 000 17 500 5 000 15 000 12 500 4 000 10 000 3 000 7 500 2 000 5 000 1 000 2 500 0 0 2021 2022 2023 2024 2025 2026 Operating cash flow, quarterl
Slide 21: Gearing % and net debt, MSEK
Gearing % and net debt, MSEK Net debt/Equity MSEK 80 000 80% 70 000 70% 61% 60 000 60% 50 000 50% 40 000 40% 30 000 30% Net debt/EBITDA* 20 000 20% 10 000 10% 2.2 0 0% 2021 2022 2023 2024 2025 2026 Net debt, MSEK Gearing, % Change in net debt, MSEK Operating Investing 30 Jun 2025 Tax Dividend FX Oth
Slide 22: Earnings per share
Earnings per share Total dividend paid since 2021 Quarterly, SEK LTM, SEK 4,0 16 3,5 14 SEK 30 bn 3,0 12 Dividend % of EPS* since 2021 2,5 10 2,0 8 1,5 6 42% 1,0 4 0,5 2 FY EPS* CAGR since 2021 0,0 0 10% 2021 2022 2023 2024 2025 2026 EPS*, quarterly EPS*, LTM 22
Slide 23: Conclusions
Conclusions Accelerated sales despite challenging market Good organic sales development of 4% Strong EBIT margin improvement • Excellent operating leverage Very strong cash flow improvement • Up by 16% versus last year Uncertain and swiftly changing operating environment • Decentralized and empowere
Slide 24: Q&A
Q&A ASSA ABLOY is the global leader in access solutions. Every day we help people feel safe, secure and experience a more open world.
Slide 25: Appendix
Appendix ASSA ABLOY
Slide 26: Opening Solutions EMEIA's bridge
Opening Solutions MSEK Q2 2025 Organic Currency Q2 2026 ex acq/div Acq/Div Q2 2026 EMEIA’s bridge Growth 0% 5% -1% 4% 1% 5% Sales 6,367 340 -86 6,621 61 6,681 EBIT* 886 230 -13 1,103 -2 1,102 EBIT, %* 13.9% 67.7% 15.5% 16.7% -2.6% 16.5% Dilution/accretion +2.7 pts +0.1 pts -0.2 pts 12 months figures
Slide 27: Opening Solutions Americas' bridge
Opening Solutions MSEK Q2 2025 Organic Currency Q1 2026 ex acq/div Acq/Div Q2 2026 Americas’ bridge Growth -3% 4% -3% 1% 2% 3% Sales 11,165 479 -354 11,290 181 11,471 EBIT* 2,080 156 -83 2,154 -4 2,150 EBIT, %* 18.6% 32.6% 23.4% 19.1% -2.1% 18.7% Dilution/accretion +0.6pts -0.2 pts -0.3 pts 12 month
Slide 28: Opening Solutions APAC's bridge
Opening Solutions MSEK Q2 2025 Organic Currency Q2 2026 ex acq/div Acq/Div Q2 2026 APAC’s bridge Growth -10% -4% -3% -7% 2% -5% Sales 2,197 -93 -54 2,050 33 2,084 EBIT* 211 -8 -15 188 3 191 EBIT, %* 9.6% 8.6% 27.4% 9.2% 9.5% 9.2% Dilution/accretion 0.0 pts -0.4 pts 0.0 pts 12 months figures Q2 2025
Slide 29: Global Technologies' bridge
Global MSEK Q2 2025 Organic Currency Q2 2026 ex acq/div Acq/Div Q2 2026 Technologies’ Growth 7% 4% -3% 1% 3% 4% bridge Sales 6,327 266 -179 6,414 176 6,590 EBIT* 1,169 154 -75 1,248 50 1,299 EBIT, %* 18.5% 57.9% 42.0% 19.5% 28.6% 19.7% Dilution/accretion +1.6 pts -0.6 pts +0.2 pts 12 months figures
Slide 30: Entrance Systems' bridge
Entrance Systems’ MSEK Q2 2025 Organic Currency Q2 2026 ex acq/div Acq/Div Q2 2026 bridge Growth 2% 4% -2% 2% 3% 5% Sales 12,404 468 -300 12 571 417 12,988 EBIT* 2,043 152 -68 2,128 47 2,175 EBIT, %* 16.5% 32.6% 22.6% 16.9% 11.2% 16.7% Dilution/accretion 0.6 pts -0.2 pts -0.2 pts 12 months figures Q
Slide 31: Cost breakdown as % of sales
Cost breakdown % QTD 2025 QTD 2026 excl. acquisitions Δ QTD 2026 as % of sales Direct material -32.9% -32.6% +0.3 pts -32.8% Conversion cost -24.2% -24.2% 0.0 pts -24.2% Gross margin 42.9% 43.2% +0.3 pts 43.0% S, G & A -26.7% -26.0% +0.7 pts -26.0% EBIT* 16.2% 17.2% +1.0 pts 17.0% YTD 2026 % YTD 202
Slide 32: Thank you
Thank you ASSA ABLOY is the global leader in access solutions. Every day we help people feel safe, secure and experience a more open world.