ASSA ABLOY AB (publ) (ASSA_B) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and welcome to the presentation of Assa Abloy's Q4 report for 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 Pider. We will now, as usual, start this conference with a short summary of the report and then open up for your questions. And with that, I'd like to hand over to you, Nico. Thanks Bjorn and also good morning from my side. We can report a strong end of a very good year for El Sabloy. We had a good organic sales development in Q4, an organic growth of 4% with strong growth in global tech and Americas, good sales growth in EMEA and in entrance systems. and a sales decline in APAC, mainly again related to the pressing market situation in Greater China. Good organic sales complemented with also good growth through acquisitions, net 3%, and then strong operational execution with a record EBIT margin of 16.8% in the quarter, and then operating leverage of 80 base points. Good work done on the working capital side, also giving us a strong cash flow and cash conversion of 137% in the quarter. Also this quarter again, the shift from mechanical to electromechanical continues. We have seen electromechanical organic sales growth of 8% in our regional divisions. We've been also active on the acquisition front in this quarter with seven acquisitions completed. If we look a little bit into the numbers, sales north of 38 billion SEC, 4% organic, like I mentioned, 3% net acquisition, and then unfortunately hit in a strong way by FX, mainly weak dollar versus strong SEC, so 10% negative effect on top line, therefore sales top line minus 3%. An EBITDA margin also at record level, of 17.9%, and we see the gap between EBIT and EBITDA further growing as w...