November 20, 2008 05:36 ET

ASSA ABLOY: Financial targets

STOCKHOLM, SWEDEN--(Marketwire - November 20, 2008) -

In connection with ASSA ABLOY's Capital Markets Day on 20 November Johan Molin, President and CEO, among other things stated that the financial targets set in 2004, to be achieved by 2008, had been reached.

The overall financial target was that capital employed, excluding acquisitions, should be improved to 20 percent primarily from achieving an annual organic growth of 5 percent over a business cycle, and an operating margin (EBIT) of 16-17 percent. At the end of 2007 the growth target was changed to be 10 percent annually by a combination of organic and acquired growth.

There will be no change in the growth and profitability targets, hence they remain at 10 percent growth and an operating margin (EBIT) of 16-17 percent. The targets are long term and should be seen as an average over a business cycle.

Regarding the outlook for 2008 it was also communicated that it is unchanged compared to the last published one in the quarterly report of 22 October:

For 2008 the organic growth is expected to be positive, but can be lower than 3% depending on the development of the business cycle.

For more information, please contact:
Johan Molin, President and CEO, tel no: +46 8 506 485 42
Tomas Eliasson, CFO and Executive Vice President, tel no: +46 8 506
485 72

ASSA ABLOY may be required to disclose the information provided herein pursuant to the Securities Markets Act. The information was submitted for publication at 11:30 CET on 20 November.

Press release (PDF):

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