ASSA ABLOY AB (publ) (ASSA_B) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everyone and welcome to the presentation of Assa Abloy's Q3 report in 2025. My name is Björn Tebell, I'm heading investor relations and joining me here in the studio are Assa Abloy's CEO Nico Delvaux and our CFO Erik Pieder. As usual we will now kick off this conference with a summary of the report and then we will open up for your questions. So Nico that means it's over to you. Thanks Björn, also good morning from my side. Q3 results, we can show strong numbers for Q3 with good growth and strong margins. We had a good organic sales development with a strong 3% organic growth, with good sales growth in EMEA, Antron Systems, Global Tech and Americas, and a sales decline in Asia-Pacific, mainly because of the continued challenging situation in Greater China. Good operational execution with record operating margin, highest operating margin since Q3 2015, 16.8% EBIT with excellent operating leverage offsetting our M&A and currency dilution. Also very strong cash flow, 10% up and a cash conversion of 125%. And then we completed five acquisitions in the quarter. If you look at the numbers, a sales of 38 billion SEC. Like I mentioned, 3% organic sales, a strong 2% price and 1% volume. a 5% net acquired growth, and then minus 6% from currency, mainly SEC, dollar related. So top line up 2%. Very strong EBITDA, record margin of 17.9%, and also record margin of EBIT of 16.8%. And then EBIT and EPS up 3%. EBIT in absolute value, 6.4 billion SEC. If you look a little bit on the world, I can perhaps summarize, because the picture is very similar as in Q1 and in Q2, where in our three main regions, as well in North America, as in Europe, as in Oceania, we continue to see very good momentum on the non-residential side. But also in all three regions, we continue to see m...