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ASSA ABLOY: Quarterly Report Q3 2026
Record sales, operating profit and margin
Third quarter
- Net sales totaled SEK 40,771 M (38,146), with organic growth of 4% (3) and acquired net growth of 2% (5). Exchange rates affected sales by 1% (-6).
- Organic sales growth was strong in Americas and EMEIA, good in Global Technologies and Entrance Systems, but declined in Asia Pacific.
- Three acquisitions with combined annual sales of about SEK 350 M and one divestment were completed during the quarter.
- Operating income1 (EBITA) increased by 12% to SEK 7,612 M (6,815) with an operating margin of 18.7% (17.9).
- Operating income1 (EBIT) increased by 11% to SEK 7,102 M (6,416) with an operating margin of 17.4% (16.8).
- Net income1 amounted to SEK 4,718 M (4,144).
- Earnings per share1 amounted to SEK 4.24 (3.73).
- Operating cash flow amounted to SEK 7,405 M (6,969).
| Sales and income | Third quarter | January-September | ||||||
| 2025 | 2026 | Δ | 2025 | 2026 | Δ | |||
| Sales, SEK M | 38,146 | 40,771 | 7% | 114,102 | 115,781 | 1% | ||
| Of which: | ||||||||
| Organic growth | 1,119 | 1,428 | 4% | 2,671 | 3,568 | 3% | ||
| Acquisitions and divestments | 1,853 | 935 | 2% | 5,417 | 2,623 | 2% | ||
| Exchange rate effects | -2,243 | 262 | 1% | -4,572 | -4,512 | -4% | ||
| Operating income (EBIT)1, SEK M | 6,416 | 7,102 | 11% | 18,216 | 19,242 | 6% | ||
| Operating margin (EBITA)1, % | 17.9% | 18.7% | 17.0% | 17.8% | ||||
| Operating margin (EBIT)1, % | 16.8% | 17.4% | 16.0% | 16.6% | ||||
| Income before tax1, SEK M | 5,563 | 6,333 | 14% | 15,648 | 17,018 | 9% | ||
| Net income1, SEK M | 4,144 | 4,718 | 14% | 11,658 | 12,678 | 9% | ||
| Operating cash flow, SEK M | 6,969 | 7,405 | 6% | 14,845 | 16,847 | 13% | ||
| Earnings per share1, SEK | 3.73 | 4.24 | 14% | 10.49 | 11.41 | 9% | ||
[1] Excluding items affecting comparability for the same period of the previous year. Please see the tabulated figures section in this report, page 12, for further details about the financial effects in 2025.
Comments by the President and CEO
I am happy to report another record strong quarter for ASSA ABLOY in which our sales grew by 7%, driven by 4% organic sales growth, 2% net acquired growth and 1% from currency movements. This is the seventh consecutive quarter with organic sales growth despite the geopolitical and macroeconomic uncertainties we have seen in the last couple of years. The good organic sales growth contributed to a record-high operating margin and for the first time our operating profit exceeds SEK 7bn in a quarter!
Organic sales growth was strong in the Americas and EMEIA divisions - 6% and 5% respectively. Americas growth was driven by continued strong growth in the non-residential segment and Latin America. The North America Residential segment improved and had good sales growth. In EMEIA, the growth was driven by very strong sales growth in Central Europe, while the other regions had good or stable sales growth developments. Global Technologies grew by 4%, with strong sales growth in HID, while Global Solutions' growth was low single-digit due to temporarily lower deliveries in the retail business unit. Entrance Systems reported good organic growth of 3%, driven by Pedestrian and Perimeter Security. Organic sales in Asia Pacific declined 1% due to weak sales in Greater China.
The operating profit (EBIT) totaled SEK 7,102 M, up 11% vs. last year. The operating margin improved by 60 bps year-on-year to 17.4% (16.8) driven by excellent operating leverage of 47% due to price realization and cost efficiencies. The operating cash flow improved by 6% year-on-year to SEK 7,405 M, resulting in an excellent cash conversion of 117%.
Our people make the difference
Our decentralized organization and commitment to innovation remain two of our key competitive advantages. However, the foundation of everything we do is our 65,000 people. Their dedication, expertise and curiosity drive our success. As more of our products and solutions become electromechanical, our technology platforms create new opportunities to realize synergies. To continue to lead this transition, we continue to invest in our people. Over the last eight years, the number of internal applications for each open position has almost tripled, demonstrating the strength of our culture and the career opportunities available within ASSA ABLOY. Developing talent remains a strategic priority. Through leadership development programs, continuous learning opportunities and increased cross-divisional collaboration, we are building the capabilities to support future growth. Our "Together We" culture is founded on empowerment, innovation and integrity. This supports our ambition to be a world-leading organization, knowing that when our people succeed, our business succeeds too.
Our acquisition strategy also brings talented people into the Group, adding fresh perspectives, new ideas and entrepreneurship. We are proud that many founders of the companies we acquire choose to remain with ASSA ABLOY. During the quarter, we acquired three businesses. We also announced the signing of Gunnebo Entrance Control, which will strengthen and complement our existing offering in pedestrian access solutions.
We are proud of what we have accomplished in the first nine months and are confident in our ability to deliver another strong year. At the same time, we remain focused on the opportunities ahead. To ensure that ASSA ABLOY remains long-term competitive, we will also launch our 11th manufacturing footprint program during the fourth quarter.
Thank you for your continued trust in ASSA ABLOY.
Nico Delvaux
President and CEO
Further information can be obtained from:
Nico Delvaux, President and CEO
phone: +46 8 506 485 82
Erik Pieder, Executive Vice President and CFO,
phone: +46 8 506 485 72
Björn Tibell, Head of Investor Relations,
phone: +46 70 275 67 68
e-mail: bjorn.tibell@assaabloy.com
ASSA ABLOY is holding a telephone and web conference
at 09.00 CET on 27 October, 2026, which can be followed online at assaabloy.com/investors.
It is possible to submit questions by telephone on:
08-505 100 31, +44 203 059 5863 or +1 631 570 5613
This information is information that ASSA ABLOY AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08.00 CET on 27 October, 2026.