Annual Report 2010

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The ASSA ABLOY Annual Report 2010 is available in an online version, pdf and in print.

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Online Annual Report 2010 ASSA ABLOY.

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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.