2005 in brief
  • Sales increased to SEK 27,802 M (25,526), with 5 percent organic growth.
  • Operating income (EBIT) amounted to SEK 4,078 M (3,683), an increase of 11 percent.
  • Earnings per share after tax and dilution amounted to SEK 6.97 (6.33), an increase of 10 percent.
  • Operating cash flow increased to SEK 3,702 M (3,439).
  • Johan Molin was appointed as the new President and CEO on 1 December 2005.
  • Contents
    Financials in brief 1
    CEO's statement 2
    Vision, Business Concept and Strategy 6
    Brand Strategy 9
    The Market 12
    ASSA ABLOY's products 16
    Sustainable development 20
    EMEA division 24
    Americas division 28
    Asia Pacific division 32
    Global Technologies division 36
    Report of the Board of Directors for 2005 42
    Corporate governance report 44
    Sales and earnings 54
    Income statements 55
    Comments by division 56
    Financial position 58
    Balance sheets 59
    Cash flow 60
    Cash flow analysis 61
    Changes in equity 62
    Financial risk management 63
    Notes 66
    Five years in summary 90
    Quarterly information 92
    Definitions of key data terms 93
    Proposed disposition of earnings 94
    Audit report 95
    The ASSA ABLOY share 96
    Information for shareholders 99
    ASSA ABLOY in brief
    ASSA ABLOY is the world's leading manufacturer and supplier of locking solutions, meeting tough end-user demands for safety, security and user-friendliness. With over 150 companies in more than 40 countries, and a world market share of around 10 percent, ASSA ABLOY is the strongest global player in the locking industry.
    The Group operates in all major regions – both mature and developing markets – and enjoys market-leading positions in large parts of Europe and North America and in Australia. In the fast-growing area of electromechanical locking solutions, the Group holds leading positions in Identification, Entrance Systems and Hotel Security.
    Since its formation in 1994, ASSA ABLOY has developed from a regional company with 4,700 employees to a global Group of companies with 29,500 employees and sales of SEK 27.8 billion.
    As the world's leading lock Group, ASSA ABLOY offers a more complete range of products than any other company on the market.
    Americas
    ASSA ABLOY's Americas division comprises companies in North and South America. Americas is the Group's second-largest division, accounting for 30 percent of total sales. During the year the division achieved an organic growth of 5 percent and an EBIT margin of 18.3 percent. Its head office is in New Haven, Connecticut, USA. Americas division has 24 production units, 8 sales companies and 9,300 employees. The main markets are the USA, Canada and Mexico. Some of the division's leading companies are Corbin Russwin, Curries, Emtek, Medeco, Phillips and Sargent.
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    EMEA
    ASSA ABLOY's EMEA division comprises all Group companies in Europe, the Middle East and Africa. EMEA is the Group's largest division, accounting for 41 percent of total sales. During the year it achieved organic growth of 3 percent and an EBIT margin of 14.7 percent. Its head office is in Stockholm, Sweden. EMEA has 46 production units, 30 sales companies and 12,400 employees. The largest markets are Scandinavia and France, and some of the division's leading companies are Abloy, Assa, Tesa and Vachette.
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