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ASSA ABLOY AB (publ) (ASAZF) CEO Nico Delvaux on Q1 2021 Results - Earnings Call Transcript

May 03, 2021 12:51 AM ETASSA ABLOY AB (publ) (ASAZF), ASAZY
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ASSA ABLOY AB (publ) (OTCPK:ASAZF) Q1 2021 Results Earnings Conference Call April 28, 2021 3:30 AM ET

Company Participants

Björn Tibell - Head of Investor Relations

Nico Delvaux - President and Chief Executive Officer, Head of Global Technologies and of Asia Pacific Division

Erik Pieder - Executive Vice President and Chief Financial Officer

Conference Call Participants

Vivek Midha - Citigroup

Lucie Carrier - Morgan Stanley

Daniela Costa - Goldman Sachs

Lars Brorson - Barclays Capital

Alexander Virgo - Bank of America Merrill Lynch

Guillermo Peigneux-Lojo - UBS

Alasdair Leslie - Société Générale


Good morning and welcome to the presentation of ASSA ABLOY's first interim report in 2021. My name is Björn Tibell, I'm heading Investor Relations. And joining me on the call is our CEO, Nico Delvaux, and our CFO, Erik Pieder.

We have set aside about one hour for this conference. And we will now start with a summary of the report before we open up for questions and answers.

So, with that, I would like to hand over to you, Nico. Please go ahead.

Nico Delvaux

Thank you, Björn. And also good morning from my side. Q1 result, a good start of the year. As you know, it took a worldwide pandemic to kill our, I would say, very longstanding record growth of 27 consecutive quarters with positive organic growth. And then, we had a difficult 2020 where we had four quarters with negative organic growth. So, very happy to be back to good organic growth in Q1, an organic growth of 4%, complemented with good growth through acquisitions, net also of 4%.

And I believe, very good operational execution, I would say, despite operational challenges with further increasing material prices, with electronic shortages, and also still with a lot of disturbance of COVID-19 related issues with people being at home or

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