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Assa Abloy Quarterly Report Q2 2024

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STOCKHOLM, July 17, 2024 /PRNewswire/ — 

Strong performance

Second quarter

Net sales increased by 10% to SEK 37,968 M (34,474), with organic growth of –1% (3) and acquired net growth of 11% (6). Exchange- rates affected sales by 0% (8).Organic sales growth was good in Americas and EMEIA, stable in Entrance Systems, but declined in Asia Pacific and Global Technologies.Eight acquisitions with combined annual sales of about SEK 1,000 M were completed in the quarter.Operating income1 (EBIT) increased by 11% and amounted to SEK 6,085 M (5,500), with an operating margin of 16.0% (16.0).Net income1 amounted to SEK 3,927 M (3,731).Earnings per share1 amounted to SEK 3.54 (3.36).Operating cash flow amounted to SEK 5,604 M (6,671).

Sales and income 

Second quarter

First half-year

2023

2024

Δ

2023

2024

Δ

Sales, SEK M

34,474

37,968

10 %

66,865

73,168

9 %

Of which:

Organic growth

897

–349

–1%

3,115

–1,111

–2 %

Acquisitions and divestments

2,002

3,925

11 %

3,346

7,532

11 %

Exchange-rate effects

2,109

–83

0 %

4,346

–118

0 %

Operating income (EBIT)1, SEK M

5,500

6,085

11 %

10,686

11,512

8 %

Operating margin (EBITA)1, %

16.6 %

16.9 %

16.6 %

16.6 %

Operating margin (EBIT)1, %

16.0 %

16.0 %

16.0 %

15.7 %

Income before tax1, SEK M

5,054

5,236

4 %

9,898

9,852

0 %

Net income1, SEK M

3,731

3,927

5 %

7,423

7,389

0 %

Operating cash flow, SEK M

6,671

5,604

–16%

10,741

8,701

 –19%                  

Earnings per share1, SEK

3.36

3.54

5 %

6.68

6.65

0 %

1 Excluding items affecting comparability. Please see the “Items affecting comparability” section in the report for further details about the financial effects in 2024. For information about items affecting comparability in 2023, please see the Year-end report 2023, available at assaabloy.com.   

Comments by the President and CEO

Strong performance
Today we announce strong results in a challenging market environment. Our sales grew 10%, driven by very strong acquired net growth of 11%, while organic sales declined 1% and the operating margin was strong at 16.0%. The continued solid non-residential development in the US contributed to good organic sales growth of 3% in the Americas division while EMEIA’s organic sales grew 1%. In Entrance Systems, organic sales were flat, where much lower demand for loading docks in the US were offset by strong growth in Pedestrian. Organic sales in Asia Pacific and Global Technologies declined by 5% and 7% respectively. The decline in Asia Pacific was mainly because of continued low construction activity in China, while high comparable sales figures last year due to the backlog catchup in Physical Access Control remained a challenge for Global Technologies.

The operating profit increased by 11% to SEK 6,085 M, corresponding to an operating margin of 16.0%. Strong operational execution through implementation of cost actions of about SEK 300 M, continued strong price realization, lower direct material costs and HHI contributed to the strong bottom line performance. The operating cash flow was excellent in the quarter, SEK 5,604 M, with a cash conversion of 107%.

Acquired growth is a key pillar for our growth strategy
To deliver on our 10% annual growth target we work with strategic activities shared across our divisions. One of these activities is to continue our acquisition journey. This has been a vital part of our strategy since the foundation, and it is further underscored by the strong growth in the first half of 2024. After a record of 24 acquisitions in 2023, we have closed another 11 acquisitions in the first six months of 2024. Given our robust pipeline and strong financial performance, we can continue our successful acquisition strategy. We are also convinced that the combination of our well-structured M&A process, our local knowledge and clear-cut investment criteria, provide a solid base for continued synergy realization while also enabling accelerated organic growth over time.

This report marks the one-year anniversary of ASSA ABLOY becoming the proud owner of HHI. Since the consolidation last year, I’ve had the opportunity to visit most of HHI’s facilities and factories. This has left me with a very good impression of the operations, the HHI team and all the opportunities going forward. The integration of HHI continues according to plan and we are even more confident than a year ago that we will be able to realize USD 100 M in synergies. It is also encouraging that HHI, on a standalone basis in the quarter, delivered a high-single digit sales growth with a sequentially improved operating margin. We are confident that this positive trend will continue.

We can look back on a strong financial performance in the first half of 2024 and I am convinced that the Group is in an excellent position to continue to lead the industry and generate significant value for all our stakeholders.
 
Stockholm, July 17, 2024

Nico Delvaux
President and CEO

Further information can be obtained from:

Nico Delvaux,
President and CEO, tel. no: +46 8 506 485 82

Erik Pieder,
Executive Vice President and CFO, tel.no: +46 8 506 485 72

Björn Tibell,
Head of Investor Relations, tel. no: +46 70 275 67 68, e-mail: bjorn.tibell@assaabloy.com 

ASSA ABLOY is holding a telephone and web conference at 09.00 on July 17, 2024 which can be followed online at assaabloy.com/investors.

It is possible to submit questions by telephone on: 08–505 100 31, +44 207 107 0613 or +1 631 570 5613

This information is information that ASSA ABLOY AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 08.00 CEST on July 17, 2024.

This information was brought to you by Cision http://news.cision.com

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SOURCE ASSA ABLOY

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Anchanto Selected by CJ Foods Vietnam for Its Order and Inventory Management Software, in Partnership with eGURU

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Anchanto’s Order Management System (OMS) now gives CJ Foods Vietnam a single platform for its marketplace and online sales, built to carry high-volume campaigns as the business grows. 

CJ Foods Vietnam has selected Anchanto’s OMS to run its online sales reliably as it grows on Vietnam’s marketplaces.eGURU, an Anchanto channel partner, operates CJ Foods Vietnam’s online stores, while Anchanto carried out the implementation and both companies provide ongoing support. 

HANOI, Vietnam, Nov. 13, 2026 /PRNewswire/ — CJ Foods Vietnam, part of South Korean food group CJ CheilJedang, has partnered with Anchanto and eGURU, an Anchanto channel partner that runs the food company’s e-commerce stores, to handle its online orders and inventory from one place. CJ Foods Vietnam signed the agreement with Anchanto in April. Anchanto’s team implemented the OMS, which went live in July, and supports CJ Foods Vietnam day to day together with eGURU. 

As CJ Foods Vietnam expanded across several marketplaces and channels, keeping orders, inventory and promotions consistent became more complex. The OMS now aligns inventory levels across channels, sends orders to fulfilment automatically and combines sales reporting. 

Nhan T. Cao, CEO of eGURU, said, “Our brand partners want to grow on Shopee, Lazada, TikTok Shop and their own websites without adding manual work. Adding Anchanto’s OMS to our services means we can run their online operations from one platform, starting with CJ Foods Vietnam. We want to bring the same approach to more consumer goods brands in Vietnam.” 

Tu Linh Tan, eCommerce Manager at CJ Foods Vietnam, added, “We needed one platform to run our online operations reliably at scale. Since going live, our team has had a single view of orders and stock across our channels. For us, success means stable operations during peak campaigns and launching new channels faster. We see the collaboration extending to more channels and more brands as our online business scales.” 

Vaibhav Dabhade, CEO of Anchanto, added, “Vietnam is one of the fastest-moving e-commerce markets we work in, with sales shifting between platforms and evolving rules for online sellers. Our team on the ground knows that market, and we bring what we learn across Asia, Europe and the Middle East to the brands we serve here. We’re proud to support CJ Foods Vietnam, one of the country’s best-known food companies, together with eGURU, in the next phase of its growth.” 

Notes to Editors 

About Anchanto 

Anchanto is a Singapore-headquartered B2B SaaS company providing order management, warehouse management and parcel tracking software to brands, retailers and logistics providers across 12 countries. Its Vietnamese team supports leading local and regional businesses with ISO 27001-certified software and direct integrations to Shopee, Lazada, TikTok Shop and more than 200 other marketplaces, carriers and enterprise systems. 

Media Contact
Name: Charles Py
Title: Chief Marketing Officer, Anchanto
Email: marketing@anchanto.com 
Website: anchanto.com 

 

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ForenScope Releases Two New Crime Scene Evidence Cameras

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Forensic science and crime scene technology has taken another leap into the future. ForenScope has released two new versions of their popular ForenScope SuperSpectral crime scene evidence cameras. GRIMM Forensics is the exclusive reseller of the all-new ForenScope SuperSpectral FORCE and SuperSpectral CORE.

UNION HALL, Va., Nov. 13, 2026 /PRNewswire-PRWeb/ — ForenScope and GRIMM Forensics have officially released two new versions of the popular ForenScope SuperSpectral crime scene camera technology. The all-new ForenScope SuperSpectral FORCE and SuperSpectral CORE include all of the advanced features of earlier SuperSpectral versions with increased image resolution and light intensity.

“The results for bruising and injuries from the SuperSpectral FORCE & CORE are powerful tools for domestic violence and special victims investigations. It is quite simply, remarkable.” Ruth Prillaman, Director, GRIMM Forensics

The SuperSpectral FORCE features an ultra-high resolution 200 megapixel camera combined with interchangeable forensic ring-light attachments.

The SuperSpectral CORE features a high resolution 64 megapixel camera combined with a fixed, multi-purpose forensic ring-light.

Both of the new SuperSpectral models include the same “smart settings” for easily locating Body Fluids, Fingerprints, Blood, Gunshot Residue, Bruising, Strangulation Marks, Bones, Trace Evidence, and Counterfeit Currency.

ForenScope SuperSpectral technology includes basic and advanced settings to accommodate agencies with all levels of expertise. From Detectives and Crime Scene Technicians, to Crime Lab Experts and DNA Scientists, everyone can operate the SuperSpectral technology.

Each ForenScope SuperSpectral features a powerful ring-light with an integrated optical filter wheel with case management software to allow law enforcement agencies the ability to examine and document evidence at the crime scene, office, or laboratory.

The smart settings for Bruising, Bite Marks, Strangulations, and other Injuries are especially valuable for domestic violence and special victims investigations.

There are currently over 100 law enforcement agencies in the U.S. with ForenScope evidence technology.

ForenScope is a forensic technology company based in Istanbul, Türkiye. GRIMM Forensics is the exclusive U.S. reseller of ForenScope. GRIMM Forensics is a Virginia certified small business located in Franklin County, VA.

More information is available from GRIMM Forensics at www.grimmforensics.com

Media Contact

Ruth Prillaman, Crime Scene Plus, 1 (540) 565-0150, info@grimmforensics.com, www.grimmforensics.com 

Twitter, Facebook, LinkedIn

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SOURCE GRIMM Forensics

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SEMIFIVE Secures KRW 178.4 Billion in Q3 New Orders, Up 437% YoY, Driving Order Backlog to Record High

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Achieves 182% QoQ growth in new orders, pushing order backlog to an all-time high of KRW 245.5 billion Drives ASIC Service new orders to KRW 136.9 billion, up 705% YoY, fueled by global turnkey projects in North America Diversifies its advanced-node AI mass production portfolio, strengthening the foundation for long-term growth

SEOUL, South Korea, Nov. 13, 2026 /PRNewswire/ — SEMIFIVE, a leading global provider of custom AI semiconductor (ASIC) solutions, today announced record-breaking order performance for the third quarter of 2026, securing KRW 178.4 billion in new orders and driving its order backlog to an all-time high of KRW 245.5 billion on a consolidated basis.

SEMIFIVE achieved a remarkable 437% year-over-year (YoY) surge in third-quarter new orders, up from KRW 33.2 billion in the same period last year. The quarterly total was approximately 2.8 times the KRW 63.3 billion recorded in the previous quarter, representing a 182% quarter-over-quarter (QoQ) increase, and 1.5 times the company’s total new orders of KRW 118.9 billion for the first half of 2026. Capitalizing on surging global demand for custom ASIC solutions, SEMIFIVE accelerated its expansion into key international markets, including North America and Japan, fueling exceptional order growth.

The company pushed its order backlog to a record KRW 245.5 billion, a 75% increase from KRW 140.3 billion in the previous quarter. As these orders progressively convert into revenue, the expanding backlog is expected to serve as a powerful engine for sustained mid- to long-term growth.

SEMIFIVE generated order growth across all business segments, including ASIC development, mass production, and intellectual property (IP), with its ASIC Service business spearheading overall performance.

SEMIFIVE drove strong growth in its ASIC Service business by securing high-margin advanced-node turnkey projects. Third-quarter new orders in this segment soared 705% YoY to KRW 136.9 billion, compared with KRW 17.0 billion in the same period last year. A major high-performance computing (HPC) project win in North America reinforced the company’s position as a trusted provider of advanced-node turnkey solutions for large global customers. SEMIFIVE has also gained strong traction in the sovereign AI markets of South Korea and Japan, delivering tangible revenue growth.

SEMIFIVE leveraged the maturity of the 4nm process and its proven mass production track record to sharpen its competitive edge. As demand accelerates for AI inference chips built on the cost-effective, high-performance 4nm process, the company is actively capturing new opportunities through its established 4nm design and mass production capabilities.

In mass production, SEMIFIVE continued to secure a steady flow of purchase orders (POs) while accelerating the diversification and advancement of its product portfolio. The company is shifting its portfolio from smaller chips built on legacy process nodes for domestic customers toward advanced-node AI devices and dedicated AI HPC chips. Backed by exclusive mask production rights, stable shipments and an expanding AI mass production portfolio are expected to drive revenue growth beginning in 2027.

SEMIFIVE sustained steady growth in its IP business by securing additional orders for its off-the-shelf, silicon-validated IP offerings. The company supplies silicon-validated IP, originally developed for specific customers, to additional customers, maximizing the value of its proven IP assets. SEMIFIVE is also expanding into leading-edge 2nm and 3nm process technologies and HPC applications. By strengthening its IP portfolio based on Samsung Foundry’s 2nm and 3nm processes, the company aims to unlock additional order opportunities in the high-performance AI semiconductor market.

For the first nine months of 2026, SEMIFIVE recorded cumulative revenue of KRW 146.1 billion, up 62% YoY. Notably, as shipments of high-value AI chips gained momentum, product revenue surged 167% QoQ to KRW 12 billion, up from KRW 4.5 billion in the previous quarter, marking the beginning of a new growth phase. The company also continued to improve profitability, achieving a cumulative gross profit margin of 28%, up 11 percentage points YoY, and improving its operating margin to -14%, up 25 percentage points YoY. Looking ahead, SEMIFIVE expects to accelerate its financial performance in the fourth quarter as its KRW 245.5 billion order backlog begins converting into revenue at a faster pace, supported by increasing mass production volumes.

“Our latest performance proves that SEMIFIVE has entered a new phase of accelerated growth in the global AI ASIC market,” said Brandon Cho, CEO and Co-Founder of SEMIFIVE. “With our record-high order backlog and high-value mass production pipeline serving as powerful turbo engines, we are poised to further accelerate our growth.”

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SOURCE SEMIFIVE

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