Annual Report 2006


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Extract from CEO statement

A Group with good prospects ahead

I am delighted to report that 2006 was a very good year for ASSA ABLOY, with the highest organic growth in the company’s history and a strong improvement in profitability. A number of complementary acquisitions have contributed an additional 3 percent to sales, which totaled SEK 31,137 M, an increase of 12 percent compared with 2005. Operating income excluding restructuring costs increased by 17 percent and totaled SEK 4,771 M (4,078).

Johan Molin, President and CEO

Key figures and events

  • Sales increased to SEK 31,137 M (27,802), with 9 percent organic growth.
  • Operating income (EBIT) excluding restructuring costs amounted to SEK 4,771 M (4,078), an increase of 17 percent.
  • Earnings per share excluding restructuring costs amounted to SEK 7.99 (6.97).
  • Operating cash flow amounted to SEK 3,528 M (3,702).
  • A three-year restructuring program to realize synergies in the Groups production was initiated during the year. Savings are expected to amount to SEK 600 M a year from 2009.
  • The pace of acquisition increased this year. Acquisitions included Fargo Electronics, which is a world leader in the fast-growing segment of secure issuance of cards.