ASSA ABLOY AB (publ) (OTCPK:ASAZF) Q4 2024 Earnings Conference Call February 5, 2025 3:00 AM ET
Company Participants
Bjorn Tibell – Head of Investor Relations
Nico Delvaux – President and Chief Executive Officer
Erik Pieder – Executive Vice President and Chief Financial Officer
Conference Call Participants
Daniela Costa – Goldman Sachs
Gael de-Bray – Deutsche Bank
Andre Kukhnin – UBS
George Featherstone – Barclays
Vivek Midha – Citigroup
Alexander Virgo – BofA Securities
Rizk Maidi – Jefferies
Jonathan Day – HSBC
Bjorn Tibell
Good morning, everyone, and welcome to the presentation of ASSA ABLOY’s 2024 Year-End Report. My name is Bjorn Tibell. I’m heading Investor Relations. And joining me here in the studio are our CEO, Nico Delvaux; and our CFO, Erik Pieder. We’ll start this conference, as usual, with a summary now of the report, and then we’ll open up for your questions. And we have set aside about one hour for this conference.
So with that, over to you, Nico.
Nico Delvaux
Thank you, Bjorn, and also good morning from my side. Q4 results, I would say, very much in line with previous quarters. Therefore, Q4, we had a stable organic sales development. To be precise, minus 0.3% organic growth.
With strong sales growth in Global Tech, good sales growth in Americas, a stable sales growth in EMEIA, but then sales decline in Entrance Systems and significant sales decline in APAC, reflecting a little bit market conditions, where we continue to see good momentum on the commercial side, but continued challenging market conditions on the residential side and also for the logistics vertical in Entrance Systems.
But then also this quarter, a flat organic sales that is compensated by very strong growth through acquisitions of net plus 6%. Also helped by currency, 1%. So top line up 7%, SEK40 billion.
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