Assa Abloy fell back on the stock market on Tuesday, after confirming its outlook at an investor day that did not offer many new elements.

At the meeting, held in Prague, the Swedish group's CEO, Nico Delvaux, detailed his strategy for continuing to improve the profitability of the world's number one locksmith.

He took the opportunity to reaffirm the company's objective of an operating margin (Ebit) of 16% to 17% on sales growth of 10% during the current economic cycle, without providing any further details.

The investor day will continue tomorrow with a visit to a cylinder manufacturing site based in Rychnov (Czech Republic).

At around 11:30 a.m., shares in the door-opening solutions specialist were down 1.5%, the second biggest drop on the OMXS30 index of major Swedish stocks.

Copyright (c) 2024 CercleFinance.com. All rights reserved.