Assa Abloy has recently announced its 2012 financial results. The company reported a 12-percent increase in sales of US$7.15 billion (SEK 46.6 billion) and organic growth was two percent compared to 2011. Operating income also grew by 13 percent to $1.15 billion. Emerging markets in Asia, Africa, Eastern Europe and Russia contributed to the large number of sales, while demands remained weak in mature Western Europe markets. In terms of product sales, mechanical locks accounted for 38 percent of sales, followed by electromechanical and electronic locks (22 percent), and security doors and hardware (18 percent).
The company's EMEA division sales totaled to $2.05 billion with organic growth of one percent. Operating income excluding restructuring costs amounted to $349 million, with an operating margin of 17 percent. In the Asia Pacific division, sales totaled $1.10 billion with organic growth of three percent. Operating income excluding restructuring costs amounted to $149 million, with an operating margin of 13.5 percent. Return on capital employed excluding restructuring costs was 20.7 percent. Demands were strong in Asia markets, but negative in Australia. Sales rose further in China, where market demand slowed during the year.
Sales totaled to $1.48 billion in the Americas division, with organic growth of four percent. Operating income excluding restructuring costs amounted to $307 million with an operating margin of 20.8 percent. Return on capital employed excluding restructuring costs was 23.6 percent. Sales rose mainly in high-security products and electro-mechanical products, combined with recovery of the American residential market.
According to Johan Molin, President and CEO of Assa, despite the global financial crisis the company's sales had jumped by 34 percent from 2008-2012, and its operating income increased by 36-percent over the same period. The company weathered the crisis by focusing on emerging markets and is committed to expanding its presence in emerging markets. Assa had seen shares of sales triple over the last seven years to a total share of 25 percent, remarked Molin.