The annual report 2022 is here

Taking steps toward a profitable and sustainable future

To secure our long-term success and value creation, we further invested in product innovation, registered more patents, and launched hundreds of new products and solutions. Efficiency measures were also identified for our next manufacturing footprint program along with energy reduction and renewable energy investments.

The year in brief

• Sales increased by 27% to SEK 120,793 M (95,007) driven by strong demand in our core markets in both the residential and commercial/institutional segments.
• Operating income increased 31% to SEK 18,532 M (14,181) with an operating margin of 15.3% (14.9).
• In total, 21 acquisitions were completed, contributing to net acquired sales growth of 2% for the year.
• The US Department of Justice (DOJ) filed a complaint seeking to block ASSA ABLOY’s proposed acquisition of the HHI division of Spectrum Brands. ASSA ABLOY and Spectrum Brands strongly disagree with the US regulator’s characterization of the proposed transaction and in 2023 will vigorously contest in court this effort to oppose the transaction.
• Our efforts in product innovation continued and we spent SEK 4,834 M or 4% of our sales on R&D. These investments contributed to the launch of more than 450 new products and registration of 140 new patents during the year.
• Our science-based targets were ratified, confirming our goal to cut absolute Scope 1 & 2 greenhouse gas emissions by 50% and absolute Scope 3 emissions by 28% between 2019 and 2030.
• We made progress in 2022 and our absolute Scope 1 & 2 emissions decreased by 6% and are down by 20% since 2019.
• The implementation of the 2025 sustainability program continued and resulted in improved sustainability performance across the Group.

Download the ASSA ABLOY annual report 2022 at assaabloy.com.