From the Wires
ASSA ABLOY has completed 100 acquisitions since 2005
By: Marketwired .
Jan. 9, 2013 02:21 AM
STOCKHOLM, SWEDEN -- (Marketwire) -- 01/09/13 -- With the acquisition of 4Front, announced on 27 December 2012, ASSA ABLOY has now acquired 100 companies since Johan Molin joined the Group as President and CEO in 2005.
Despite two major recessions, the ASSA ABLOY Group has experienced impressive growth since the beginning of 2005. Sales have increased by 84 percent from SEK 25 billion to SEK 46 billion (rolling 12 months per September 2012). ASSA ABLOY's operating income, EBIT*, has during the same period doubled from SEK 3.7 billion to SEK 7.4 billion and earnings per share* have increased by 114 percent - from SEK 6.32 to SEK 13.53.
"The strategic growth target for ASSA ABLOY is to grow with 10 percent annually through a combination of organic growth and acquisitions. We have a focused acquisition strategy in three directions: gaining access to new geographic markets, adding new and complementary products to our portfolio, and obtaining cutting-edge technologies in various key fields," Molin says.
"The foundation for ASSA ABLOY's rapid acquisitions expansion has been the Groups ability to identify and build good relationships with potential acquisitions, effectively acquire them, and successfully integrate them fast into the Group. What is even more exciting is that virtually all acquisitions have developed very well and contributed significantly to the profitability of the ASSA ABLOY Group," Molin says.
"ASSA ABLOY has completed another 11 acquisitions during the first nine months 2012, adding SEK 3.45 billion (8,3 percent) to our total sales," Molin says. "In 2011, 18 acquisitions added 17 percent to total sales.
"Looking ahead, ASSA ABLOY will continue to implement its strategy of proactive acquisitions across all three strategic directions, and geographically speaking primarily in the emerging markets in Asia, Eastern Europe, the Middle East, Africa and South America," Molin says. "These markets already account for 25 percent of the Group's total sales and are expected to approach 50 percent by 2025."
Since its formation in 1994, ASSA ABLOY has grown from a regional company into an international Group with some 44,000 employees and sales of more than SEK 46 billion, the Group operates in more than 60 countries and sales all over the world.
All figures for 2012 relates to 12 months rolling per 30 September 2012.
*Excluding items affecting comparability.
About the acquisition of 4Front
ASSA ABLOY has acquired the US company 4Front, leader in docking systems. 4Front offers a complete product range around docking systems as well as a large variety of accessories.
"4Front, with its leading brands, is yet another strategic entry to the important North American market in entrance automation. I welcome this addition that further reinforces the ASSA ABLOY Group's leadership in entrance automation, growing from SEK 3 billion in 2008 to more than SEK 12 billion pro forma in 2012", commented Johan Molin, President and CEO of ASSA ABLOY.
Read the full press release at: www.assaabloy.com
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(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ASSA ABLOY via Thomson Reuters ONE
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