Citigroup lifts price target to SEK 440 as ASSA ABLOY posts SEK 152.4B sales
Citigroup raises its buy rating on ASSA ABLOY and increases the price target to SEK 440 after Q4 net sales of SEK 38.3 billion, posting 4% organic growth despite a 10% FX headwind. Full-year 2025 records sales of SEK 152.4 billion and adjusted operating income of SEK 24.7 billion, yielding a 16.2% margin.
1. Citigroup Rating and Price Target
Citigroup maintained its buy rating on ASSA ABLOY and raised the price target from SEK 410 to SEK 440, reflecting confidence in the company’s long-term growth and market position in access solutions.
2. Fourth Quarter Performance
In Q4 2025, ASSA ABLOY achieved net sales of SEK 38.3 billion, driven by 4% organic growth and 3% acquisition growth, offsetting a 10% negative impact from foreign exchange fluctuations.
3. Full-Year 2025 Results
For the full year, the company delivered record sales of SEK 152.4 billion and an adjusted operating income of SEK 24.7 billion, corresponding to a 16.2% operating margin, the highest level in recent years.
4. Division Highlights
The Global Technologies division led growth with 9% organic sales increase, underpinned by strong performance in HID solutions, while other segments navigated tariff pressures and high interest rates to maintain stable operations.