13 Feb 2009

ASSA ABLOY Q4 (2008) Report

Despite weak market development, ASSA ABLOY and its Entrance Systems division posted good numbers for the 4th financial quarter of 2008, with ASSA ABLOY finishing with a record year in terms of sales and income.

"It is pleasing to report that ASSA ABLOY recorded its highest-ever sales and income in 2008, at the same time as investments in product development and market presence continued at a high level,” remarked Johan Molin, President and CEO. “Ongoing restructuring programs and other measures achieved valuable savings which counteracted the year's steadily weakening market.”

4th Quarter Entrance Systems

Entrance Systems division reported sales of SEK 952 M (823) in the fourth quarter, representing organic growth of 3%, the same figure as for the corresponding quarter last year. Acquired growth amounted to 6%. Demand from the retailing sector weakened but was counteracted by some expansion of demand from the hospital and healthcare sector and a positive trend on the service side.

For complete ASSA ABLOY 4th Quarter and year-end results, visit www.assaabloy.com.