Sales Slow For ASSA ABLOY

ASSA ABLOY had net sales of SEK23,298 million for the fourth quarter of 2020, a decrease of seven per cent over net sales of SEK24,946 million in the fourth quarter of 2019. Organic growth decreased five per cent and acquired/divested net growth increased five per cent year over year. Operating margin, excluding acquisitions and divestments, was 16.1 per cent in the quarter compared to 16.2 per cent a year ago. Net income was SEK2,582 million compared to SEK2,767 million.