ASSA ABLOY AB (publ) (ASSA_B) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everyone and welcome to the presentation of ASSA ABLOY's Q2 Report in 2026. My name is Bjorn Trebel. I am Heading Investor Relations and joining me here in the studio are ASSA ABLOY's CEO, Heiko Devo and our CFO, Erik Pieder. We have set aside about one hour for this call and we will now start with a summary of the results before we open up for your questions. So with that, I'd like to hand over to you Nico. Thanks, Guillaume and also good morning from my side. Q2 results for us, we can report strong numbers for Q2 where we have seen an accelerated organic sales growth, an organic growth of 4% with strong sales growth in EMEA, good sales growth in Americas, Global Technologies and Entrance Systems and a decline in APAC related to market conditions in Greater China. And also good growth, complementary growth through acquisitions of net plus 2% and then a very strong operational execution with a record high EBIT and a record high EBIT margin of 17% with an excellent operating leverage of 51%. Also, good balance sheet management with a very strong cash flow improvement, cash flow 16% up and a cash conversion of 106% in the quarter. And then we continue our transition from mechanical to electromechanical. Our electromechanical products had an organic sales growth of 8% in the regional divisions and then we completed five acquisitions in the quarter. So if you look into the numbers, sales of almost SEK39.5 billion, 3% up, as I mentioned, 4% organic growth, 2% net growth through acquisitions and then a minus three negative currency effect. A very strong record EBITDA margin of 18.1, 90 bps up. The EBIT margin of 17%, we had some one time items in the quarter. Eric will come back on the details. If you correct for that, the EBIT margin was 16.5%, so still a rec...