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ASSA ABLOY REPORT FOR THE SECOND QUARTER OF 2003

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  • Sales amounted to SEK 5,930 M ( 6,245), up 6% in local currencies, minus 2% organic growth
  • Income before tax decreased by 16% for the quarter and by 7% for the half year
  • Operating margin, EBITA, was 13.0% (13.9) for the quarter
  • Operating cash flow amounted to SEK 577 M for the quarter and SEK 1,142 M for the half year
  • The new organization has increased its intensity in leveraging the Group strength
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    Second quarter
     
    Six months
     
     
    2003
    2002
    Change
    2003
    2002
    Change
    Sales, SEK M
    5,930
    6,245
    -5%
    12,054
    12,549
    -4%
    Whereof:
     
     
     
     
     
     
    Organic growth
     
     
    -2%
     
     
    -1%
    Acquisitions
     
     
    8%
     
     
    8%
    FX-differences
    -691
     
    -11%
    -1,420
     
    -11%
    Operating margin, EBITA, %
    13.0
    13.9
    -
    13.4
    13.8
    -
    Adj. FX-diff. and acquisitions
     
    13.3
    -
     
    13.1
    -
    Income before tax, SEK M
    407
    484
    -16%
    875
    944
    -7%
    Whereof:
    FX-differences
    -40
     
    -8%
    -93
     
    -10%
    Operating cash flow, SEK M
    577
    866
    -35%
    1,142
    1,528
    -25%
    Earnings per share (EPS), SEK
    0.71
    0.84
    -15%
    1.53
    1.65
    -7%
    EPS excluding goodwill, SEK
    1.34
    1.48
    -9%
    2.82
    2.93
    -4%
     
     
    The full report including tables can be downloaded from the attached link.

    Further information can be obtained from <br> Bo Dankis, President and CEO, tel: +46 8 506 485 42 <br> Göran Jansson, EVP and CFO, tel: +46 8 506 485 72 <br> Martin Hamner, Director of Investor Relations and Group Controller, tel: + 46 8 506 485 79 <br> <br> The ASSA ABLOY Group is the world's leading manufacturer and supplier of locking solutions, dedicated to satisfying end-user needs for security, safety and convenience. The Group has about 30,000 employees and annual sales of about EUR3 billion.

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