Q4 2017 A summary of the main highlights for the fourth quarter and the full year 2017. Fourth quarter Net sales increased by 3% to SEK 20,109 M (19,484), with organic growth of 5% (1) and acquired net growth of 3% (2) Strong growth has been exhibited by Global Technologies and EMEA and good growth by Americas, Entrance Systems and Asia Pacific Contracts have been signed for the acquisition of two companies with combined expected annual sales of about SEK 400 M Operating income1) (EBIT) was SEK 3,359 M (2,913), corresponding to an operating margin of 16.7% (15.0) Net income1) amounted to SEK 2,385 M (2,088) Earnings per share1) amounted to SEK 2.15 (1.88) Operating cash flow remained strong and amounted to SEK 4,876 M (4,620) Nico Delvaux has been appointed as the new President and CEO of ASSA ABLOY with effect from 15 March 2018 The Board of Directors proposes a dividend of SEK 3.30 (3.00) per share for 2017. Full year The Group’s sales for the full year 2017 increased by 7% to SEK 76,137 M (71,293). Organic growth was 4% (2). Acquisitions and divestments contributed 2% (3), of which 3% (4) came from acquisitions and -1% (-1) from divestments. Exchange-rate effects affected sales by 1% (0). The Group’s operating income, EBIT, excluding restructuring costs, amounted to SEK 12,341 M (11,254), which was an increase of 10% compared with last year. The corresponding EBIT operating margin was 16.2% (15.8). Operating income before amortizations from acquisitions, EBITA, excluding restructuring costs, amounted to SEK 12,584 M (11,450). The corresponding EBITA margin, excluding restructuring costs, was 16.5% (16.1). Earnings per share, excluding restructuring costs, amounted to SEK 7.77 (7.09), an increase of 10% compared with last year. Operating cash flow totaled SEK 10,929 M (10,467), an increase of 4%.