Assa Abloy Notes Resilience Despite Geopolitical Uncertainty

By Dominic Chopping

STOCKHOLM--Assa Abloy said its business has shown resilience as increased global geopolitical tensions and macroeconomic uncertainty hit several customer segments and geographies during the first quarter.

The Swedish lock maker reported a 5.8% sales drop in the period to 35.75 billion Swedish kronor ($3.88 billion), just shy of a FactSet forecast, as it noted a significant currency headwind.

Organic sales grew 2% on year, buoyed by strong growth in the Nordics, central Europe, and the Middle East, India and Africa region--as the impact from the war was limited to the second half of March.

Global technologies and the North American nonresidential business also showed strength, while the North American residential segment declined due to continued elevated interest rates, a challenging housing market and short-term effects from snowstorms at the beginning of the year.

"In an increasingly uncertain global environment, most recently with the development in the Middle East, Assa Abloy's decentralized business model continues to be a key strength," Chief Executive Nico Delvaux said.

"With decision-making close to the markets, our people are empowered to respond quickly to changing local conditions, whether driven by geopolitical developments, trade policy uncertainty, or shifting demand patterns."

The company reported a first-quarter quarter net profit of 3.54 billion kronor from 2.45 billion kronor a year earlier.

Its adjusted operating margin rose to 15.3% from 14.9%.

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

(END) Dow Jones Newswires

April 28, 2026 03:09 ET (07:09 GMT)