Assa Abloy Expects Strong Year After Rise in Third-Quarter Earnings

By Dominic Chopping

STOCKHOLM--Assa Abloy said it expects to deliver strong full-year results after third-quarter earnings rose despite mixed market conditions.

The Swedish lock maker said net profit in the quarter rose to 4.15 billion Swedish kronor ($440.3 million) from 4 billion kronor a year earlier, just shy of expectations, while sales rose 1.9% to 38.15 billion kronor.

A FactSet consensus had forecast quarterly profit of 4.19 billion kronor on sales of 38.1 billion kronor.

Organic sales grew 3% on year, buoyed by strong growth in the Nordics and central Europe, entrance systems, global technologies and the North American nonresidential business. The North American residential segment declined as high interest rates continue to hold back demand for new construction, and in Asia Pacific, organic sales declined 4% as China saw significant sales declines.

The company reported an adjusted operating margin of 16.8%, up from 16.7%, as savings from manufacturing efficiency drives, tariff mitigation activities, and higher growth in certain parts of the business all supported profitability.

Assa Abloy said it bought five businesses during the quarter, and that the acquisition pipeline remains strong.

"We have successfully navigated through the first three quarters, and with one quarter left of 2025, we are on a trajectory to deliver another strong year," Chief Executive Nico Delvaux said.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

October 21, 2025 02:53 ET (06:53 GMT)