Assa Abloy AB Class B

ASSA B: XSTO (SWE)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Assa Abloy Earnings: Margins Holding Up While Foreign-Currency Headwinds Expected to Fade

Joachim Kotze

Apr 28, 2026

Assa Abloy delivered 2% organic growth and a 52% operating leverage ratio in the first quarter of 2026—nearly double management's guidance—despite flat volumes, as a 10% foreign-currency drag masked strong underlying execution.

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Assa Abloy AB Class B

Assa Abloy Earnings: Margins Holding Up While Foreign-Currency Headwinds Expected to Fade

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