Assa Abloy Q1 Profit Flat Amid Headwinds

Assa Abloy reported Q1 net income of SEK 3.55 bn, virtually unchanged from SEK 3.54 bn a year earlier.
Revenue dropped 6% YoY to SEK 37.94 bn, driven by weakness in the North American residential market amid high interest rates.
Non‑residential sales rose, especially in North America and Latin America, while the Global Technologies segment posted strong growth.
Operating margin improved to 15.3% from 14.9% thanks to softer currency, operating leverage and cash‑flow strength; the firm flagged Middle‑East uncertainties.