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    ASSA B   SE0007100581

ASSA ABLOY AB

(ASSA B)
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Assa Abloy to Buy MR Group's Portuguese Hardware Division

06/02/2021 | 03:46am EDT

By Dominic Chopping

STOCKHOLM--Sweden's Assa Abloy AB said Wednesday that it has signed an agreement to acquire MR Group's hardware division, a supplier of aluminum profile hardware and locks in Portugal.

"This acquisition delivers on our strategy to strengthen our position in the mature markets through adding complementary products and solutions to our core business," Chief Executive Nico Delvaux said.

MR Group's hardware division has around 380 employees and has its main office located in Agueda, Portugal. Sales for 2020 amounted to around 23 million euros ($28.1 million) and the acquisition will be accretive to earnings per share from the start, Assa Abloy said.

The acquisition is subject to regulatory approval and customary closing conditions and is expected to close during the third quarter of 2021.

Financial terms weren't disclosed.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

06-02-21 0345ET

Stocks mentioned in the article
ChangeLast1st jan.
ASSA ABLOY AB 0.18% 276.6 Delayed Quote.36.35%
DJ INDUSTRIAL -0.28% 34838.16 Delayed Quote.14.14%
S&P GSCI ALUMINUM INDEX 0.77% 166.2639 Delayed Quote.31.39%
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Financials
Sales 2021 94 986 M 11 046 M 11 046 M
Net income 2021 10 897 M 1 267 M 1 267 M
Net Debt 2021 19 716 M 2 293 M 2 293 M
P/E ratio 2021 28,4x
Yield 2021 1,52%
Capitalization 307 B 35 660 M 35 665 M
EV / Sales 2021 3,44x
EV / Sales 2022 3,19x
Nbr of Employees 50 727
Free-Float 91,4%
Chart ASSA ABLOY AB
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Technical analysis trends ASSA ABLOY AB
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 276,10 SEK
Average target price 280,25 SEK
Spread / Average Target 1,50%
EPS Revisions
Managers and Directors
Nico Delvaux President & Chief Executive Officer
Erik Pieder Chief Financial Officer & Executive VP
Lars Sture Renstr÷m Chairman
Carl Fredrik Wilhelm Douglas Vice Chairman
Birgitta KlasÚn Independent Director
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ASSA ABLOY AB36.35%35 660
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