The outcome was a bit higher than analysts’ average expectation, which was SEK 5,394 million according to a compilation made by Infront.
Net sales amounted to SEK 35,200 million (32,391) and was slightly lower than the expected SEK 35,511 million.
Organic sales growth fell to -2 percent (8) and was 0.6 percentage points lower than the expected -1.4 percent.
“Organic sales were affected by three fewer working days in March, the most important month of the quarter, and a continued weak housing market,” said CEO Nico Delvaux in a comment.
Organic sales growth was stable for Entrance Systems while growth declined for the Americas (-1 percent), Asia Pacific (-3 percent), EMEIA (-3 percent) and Global Technologies (-9 percent)
The operating margin rose to 15.4 percent (12.2) and was 0.2 percentage points higher than the expected 15.2 percent.
The adjusted operating profit amounted to SEK 5,427 million (5,186) and was slightly higher than the expected SEK 5,412 million.
The adjusted operating margin amounted to 15.4 percent (16.0) and was 0.2 percentage points higher than the expected 15.2 percent.
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