Annual Report 2010 /Global/Investors/Annual-Report/2010/Cover-AR-2010-524x224.jpg The ASSA ABLOY Annual Report 2010 is available in an online version, pdf and in print. View digital report Online Annual Report 2010 ASSA ABLOY. Download PDF Annual Report 2010 ASSA ABLOY. Extract from the CEO statement Emerging from the recession as a stronger company "I was pleased to note that the business cycle improved in 2010 and organic growth returned to a good 6 percent in the second half of the year. The good growth was achieved through consistent investments in new products, selective strengthening of the market organization and a number of exciting acquisitions. Meanwhile ASSA ABLOY continued its successful efforts to increase efficiency and emerged from the recession as a much stronger company. Earnings and margins remained at a record high and increasing level throughout the year, while cash flow was strong and the financial position was robust. 13 acquisitions were completed during the year increasing sales by 8 percent, largely in emerging markets, and the Group’s largest ever acquisition was initiated by a public offer for the Swedish Cardo group." Johan Molin, President and CEO Important events during the year 2010 Sales rose 5 percent to SEK 36,823 m (34,963). Operating income amounted to SEK 6,046 m (5,413). Earnings per share after full dilution amounted to SEK 10.89 (9.22). Operating cash flow amounted to SEK 6,285 m (6,843) Investments in product development accelerated and a large number of new products were launched. A scalable infrastructure for secure delivery of mobile keys was launched during the year. Acquisition of Pan Pan which is China’s largest manufacturer of high security steel doors. Other large acquisitions where King Door Closers, South Korea, Paddock, United Kingdom and ActivIdentity, USA. Signed an agreement to acquire Cardo, a leading Swedish industrial door company.