Annual Report 2008 /Global/Investors/Annual-Report/2008/China-1107-0768-524x224.jpg Download the ASSA ABLOY Annual Report 2008 as a PDF or order a printed copy via the link to the right. Key numbers & events Sales increased by 4 percent to SEK 34,918 M (33,550). Operating income (EBIT) amounted to SEK 5,5261 M (5,458). Earnings per share amounted to SEK 9.211 (9.02). Operating cash flow amounted to SEK 4,769 M (4,808) The restructuring program initiated in 2006 has been a great success and will be completed in 2009. The annual rate of savings is close to the target level of SEK 600 M, which will be achieved during 2009. A new review of production structures was carried out during the year and the cost of the new program amounts to SEK 1,180 M with a payback time of 2–3 years. Significant investments were made in product development, which will make a positive contribution to sales. 18 companies were acquired during the year, bringing in annual sales of SEK 1,800 M.