Artificial Intelligence
ASSA ABLOY Quarterly Report Q4 2023
STOCKHOLM, Feb. 7, 2024 /PRNewswire/ — Strong result in a challenging market
Fourth quarter
Net sales increased by 12% to SEK 36,970 M (32,915), with positive organic growth of 0% (9) and acquired net growth of 11% (5). Exchange- rates affected sales by 1% (14).Organic sales growth was strong in Americas and good in Entrance Systems, while organic sales declined in Asia Pacific, EMEIA and Global Technologies.Six acquisitions with combined annual sales of SEK 900 M were signed.Operating income1 (EBIT) increased by 11% and amounted to SEK 5,722 M (5,152), with an operating margin of 15.5% (15.7).The operating margin1 (EBIT) excluding the acquisition of HHI and divestment of the Emtek/U.S. Smart Residential business was 16.8%.Net income1 amounted to SEK 3,969 M (3,729).Earnings per share1 amounted to SEK 3.56 (3.36).Operating cash flow amounted to a record SEK 7,315 M (6,588).The Board of Directors proposes a dividend of SEK 5.40 (4.80) per share for 2023, to be distributed in two equal installments.Sales and income
Fourth quarter
January-December
2023
Δ
2022
2023
Δ
Sales, SEK M
36,970
12 %
120,793
140,716
16 %
Of which:
Organic growth
133
0 %
13,007
3,393
3 %
Acquisitions and divestments
3,572
11 %
2,126
10,651
8 %
Exchange-rate effects
349
1 %
10,653
5,879
5 %
Operating income (EBIT)1, SEK M
5,722
11 %
18,532
22,185
20 %
Operating margin (EBITA)1, %
16.2 %
15.9 %
16.5 %
Operating margin (EBIT)1, %
15.5 %
15.3 %
15.8 %
Income before tax1, SEK M
4,879
2 %
17,521
19,654
12 %
Net income1, SEK M
3,969
6 %
13,296
15,049
13 %
Operating cash flow, SEK M
7,315
11 %
15,808
25,232
60 %
Earnings per share1, SEK
3.56
6 %
11.97
13.54
13 %
1 Adjusted for items affecting comparability. Please see the section “Items affecting comparability” in the report for further details about the financial effects.
Comments by the President and CEO
Strong result in a challenging market
“I am proud to report that 2023 was once again a successful year for ASSA ABLOY with record financial results in a year with slower economic growth. Our organic sales grew 3%, complemented by net growth from acquisitions of 8%, and the operating margin improved to 15.8%.
In the fourth quarter, and despite lower volumes, we delivered an operating margin, excluding the HHI transaction, of 16.8%, within our target range. This underlines the agility and resilience of our business model and good cost control with more than SEK 0.5 bn in cost savings in the quarter.
Sales increased 12% with a positive organic growth of 0.4%, acquired net growth of 11% and currency effects of 1%. Americas and Entrance Systems delivered good organic sales growth of 5% and 3% respectively. Americas growth was primarily driven by continued good demand within the US non-residential business and Entrance Systems had strong growth in all business areas except for the Residential segment. Asia Pacific, EMEIA and Global Technologies reported negative organic growth. Lower intra-group sales and weak export business continued to affect Asia Pacific. EMEIA’s negative sales development was driven by weakness in the Nordics again this quarter, while Global Technologies had very high comparable sales figures last year mainly due to catching up with the backlog in PACS.
The operating profit excluding items affecting comparability increased by 11% to SEK 5,722 M, and the operating margin was 16.8% excluding the HHI transaction. The operating leverage was again very strong, driven by lower direct material costs, cost-savings as well as price realization. The operating cash flow also grew strongly in the quarter by 11% to a record SEK 7,315 M with a cash conversion of 150%.
Priorities in 2024
Going into 2024, we will continue to execute on our strategy to accelerate our long-term profitable growth. A key activity is to lead the transition to electromechanical and digital products and solutions. While penetration rates are mostly low, we see a steadily growing demand for these solutions. During the year, electromechanical products and solutions were our fastest growing product group with an organic growth of above 10%. Another important priority for 2024 is the integration and realization of synergies in HHI.
We completed six acquisitions in the fourth quarter. This means that 24 acquisitions were completed in 2023, adding sales of approximately SEK 10 bn during the year. The integration of HHI proceeds according to plan. Going forward, acquisitions remain one of the key growth areas and the pipeline remains solid.
The macroeconomic environment continues to be uncertain. We therefore remain dedicated to mitigating any impact from potentially negative changes in demand, through local agility and focus on cost-control. To further optimize our operational footprint, we have also started to work on our next manufacturing footprint program, with a launch target towards the end of 2024.
Lastly, I would like to thank you for your continued trust and look forward to another exciting year with great opportunities for ASSA ABLOY.”
Stockholm, February 7, 2024
Nico DelvauxPresident 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: [email protected]
ASSA ABLOY is holding a telephone and web conference at 09.30 on February 7, 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. The information was submitted for publication, through the agency of the contact persons set out above, at 08.00 CET on February 7, 2024.
The following files are available for download:
https://mb.cision.com/Main/7333/3923652/2586870.pdf
The full report (PDF)
https://news.cision.com/assa-abloy/i/assa-abloy-logo-door,c3264637
ASSA ABLOY logo door
View original content:https://www.prnewswire.co.uk/news-releases/assa-abloy-quarterly-report-q4-2023-302055695.html
Artificial Intelligence
Global Health Exhibition Announces Opportunity for Healthcare Startups to secure over 100,000 SAR in Vision NextGen Competition Designed to Fast-Track Health Innovations
Healthcare innovators developing novel medical advancements via their own business invited to compete for a prize fund exceeding 100,000 Saudi Riyal (SAR) to further product development, to be awarded at Global Health Exhibition 2024 in Malham, Riyadh, Saudi Arabia, one of the world’s most highly-attended healthcare eventsShortlisted startup businesses will present live to an expert judging panel including Dr Mohammed Alhamali, Chief Innovation Officer at Seha Virtual Hospital, Saudi Arabia Ministry of HealthEmerging businesses competing at the event will also meet and interact with the world’s leading minds in healthcare transformation including healthcare AI innovatorsThere is still time to apply – startups may complete a short online application by Monday 16 September 2024MALHAM, Saudi Arabia and RIYADH, Saudi Arabia, Sept. 11, 2024 /PRNewswire/ — The organizers of the October 2024 Global Health Exhibition taking place in Malham, Riyadh, today announced a 100,000 Saudi Riyal prize for the winner of the October 2024 event’s Vision NextGen competition.
The competition, which seeks to support the development of novel medical products, systems and treatments across multiple healthcare sectors, is supported by leading young business publication Startups Magazine. It is open to emergent healthcare companies which have been in operation for less than five years and have fewer than 25 employees. The winning business’ prize can be utilised to further advance product development in the interests of patients.
Closely aligned with the Kingdom of Saudi Arabia’s healthcare objectives including crisis response and health security, technological and digital transformation, public health and disease prevention and health innovation, Vision NextGen judges anticipate high demand to join a shortlist of 30 companies from an anticipated longlist of over 150 businesses. Six finalists drawn from the shortlist will present to the competition’s expert judging panel live at the Exhibition on 23 October 2024. The judges include:
Reenita Das, Partner and SVP, Frost & SullivanAhmed Abdulwahab, Founder, CEO and Chief Innovation Officer, Next ArabiaPilar Fernandez Hermida, Founder and MD, i-ExpandKristina Podnar, Digital Policy Consultant, Native Trust ConsultingDr Mohammad Alhamali, Chairman of the National Innovation and Regulatory Sandbox, Chief Innovation Officer at Seha Virtual Hospital, Ministry of Health, Saudi Arabia”Healthcare transformation often starts with small, innovative ideas and the Vision NextGen competition is here to nurture those with the potential to significantly impact patient care,” said Reenita Das, Partner and SVP at Frost & Sullivan and Vision NextGen judge.
“We are looking for trailblazers who are tackling global healthcare challenges through novel therapeutics, digital health, virtual care delivery, or the automation of health services. Participants will not only have the chance to present their innovations to some of the world’s leading health experts but also benefit from the extensive networking and learning opportunities at the Global Health Exhibition.”
To apply, startups which meet the competition’s criteria have a final opportunity before 16 September 2024 to complete a short initial application online at: Vision NextGen – The Start-up Competition (globalhealthsaudi.com). Shortlisted companies will be notified ahead of the Exhibition and will be invited to compete for a finalist place on 21 October.
“Innovation in healthcare goes beyond just technology; it’s about understanding and addressing the deeper, often unspoken, needs of people. At Labayh, we’re committed to breaking down the barriers that prevent access to mental health care, ensuring that every individual feels supported and heard,” said Basim Albeladi, CEO of workplace mental health specialist Labayh. “Through initiatives like the Vision NextGen competition, we seek to empower those who are driving meaningful change in the healthcare landscape.”
Registration information alongside the newly-published event program for Global Health Exhibition 2024 can be found at the following link: Global Health Exhibition (globalhealthsaudi.com)
“Global Health Exhibition offers healthcare innovators and startups incredible opportunities to meet with major international and local investors and leaders in the healthcare sector,” said Rachel Sturgess, Group Director, Tahaluf, the event’s organizer.
“The Vision NextGen competition is seeking true change-makers who are actively addressing the most pressing challenges in global healthcare and bring a passion for transforming the lives of patients across a wide range of medical specialities.”
View original content:https://www.prnewswire.co.uk/news-releases/global-health-exhibition-announces-opportunity-for-healthcare-startups-to-secure-over-100-000-sar-in-vision-nextgen-competition-designed-to-fast-track-health-innovations-302245366.html
Artificial Intelligence
Softeon Named Leader in SPARK MatrixTM for Warehouse Management System Market, Q3, 2024 by Quadrant Knowledge Solutions
Softeon, with its comprehensive technology for its Warehouse Management System, has received strong ratings across the parameters of technology excellence and customer impact.
RESTON, Va., Sept. 11, 2024 /PRNewswire/ — Quadrant Knowledge Solutions announced today that it has named Softeon, the only tier-1 Warehouse Management System (WMS) provider focused on optimizing warehouse and fulfillment performance to increase operational efficiency and throughput, as a Q3, 2024 leader in the SPARK MatrixTM analysis of the global Warehouse Management System (WMS) market and its vendors.
The Quadrant Knowledge Solutions SPARK MatrixTM: Warehouse Management System (WMS) Q3, 2024, includes a detailed analysis of global market dynamics, major trends, vendor landscape, and competitive positioning. The study provides competitive analysis and ranking of the leading Warehouse Management System (WMS) vendors in the form of its SPARK MatrixTM. It provides users with strategic information to evaluate vendor capabilities, competitive differentiation, and market position.
“Softeon has solidified its position as a leading provider of cloud-based Warehouse Management System (WMS) solutions, Warehouse Execution Systems (WES), and Distributed Order Management (DOM) by catering effectively to both B2B and B2C clients,” says Pruthvi Raj, Senior Analyst at Quadrant Knowledge Solutions. “With advanced functionalities such as real-time inventory visibility, resource management, advanced automation capabilities, and seamless integration with other supply chain systems, Softeon empowers large enterprises to achieve operational efficiency and optimize resources.”
Pruthvi Raj adds, “Softeon’s year-on-year revenue growth, strong enterprise segmentation, a compelling vision & roadmap, and industry-specific capabilities, particularly in 3PL, healthcare, and life sciences, positions the company as a leader in the SPARK Matrix™: Warehouse Management System (WMS), Q3, 2024.”
“Unlike our competitors, Softeon is uniquely focused on a comprehensive fulfillment solution suite, designed to drive the most value and quickest ROI to our customers, many of them highly demanding 3PLs,” says Jim Hoefflin, CEO, Softeon. “Our philosophy is rooted in customer centricity and manifests in products, tools, and processes that create the most ideal workflows for warehouse operations. Simply put, we relentlessly micro-tune the application to capture the most operational efficiency.”
Quadrant Knowledge Solutions defines a Warehouse Management System (WMS) as “a software suite that helps businesses to visualize, optimize, and manage end-to-end warehouse operations such as slotting, receiving, put-away, inventory management, picking, packing, and shipping. WMS also offers resource (labor, machine, material, and devices) management capabilities for effective order allocation and task optimization. Additionally, it leverages emerging technologies, such as AI/ML, analytics, digital twin, IoT, voice recognition, robotic process automation, and edge computing, to develop strategies for transforming and automating warehouse and distribution/fulfilment center activities.”
As shown by their position as a leader in the SPARK MatrixTM for the Warehouse Management System market, Q3, 2024, Softeon’s technology empowers businesses to solve the complexities and challenges of today’s warehouses.
To unlock the full potential of your supply chain with Softeon’s innovative solutions, contact them today.
Additional Resources:
Complimentary download – SPARK Matrix: Warehouse Management System (WMS), Q3 2024
For more available research, visit: https://quadrant-solutions.com/market-research/
About Softeon
Softeon is a WMS provider focused exclusively on optimizing warehouse and fullfilment operations. For over two decades now, we have been helping our customers succeed. Investing in R&D enables us to develop software to solve the most complex warehouse challenges. Softeon is laser-focused on customer results, with a 100% track record of deployment success. We believe warehouse leaders shouldn’t have to settle for a one-size-fits-all approach to technology. For more information, please visit www.Softeon.com.
Media Contacts:
Mike CatalinoDirector of Public Relations and Analyst [email protected]
About Quadrant Knowledge Solutions
Quadrant Knowledge Solutions is a global advisory and consulting firm focused on helping clients achieve business transformation goals with Strategic Business and Growth advisory services. At Quadrant Knowledge Solutions, our vision is to become an integral part of our client’s business as a strategic knowledge partner. Our research and consulting deliverables are designed to provide comprehensive information and strategic insights for helping clients formulate growth strategies to survive and thrive in ever-changing business environments.
Media Contacts:Shraddha Roy PR & Media Relations Quadrant Knowledge Solutions Regus Business Center 35 Village Road, Suite 100, Middleton Massachusetts 01949 United States Email: [email protected] Source: https://qksgroup.com/resources/newsroom/softeon-named-leader-in-spark-matrix-for-warehouse-management-system-market-q3-2024-by-quadrant-knowledge-solutions?id=765 Connect with us on LinkedIn- https://www.linkedin.com/company/qksgroup/
Logo: https://mma.prnewswire.com/media/746706/1470558/Quadrant_Knowledge_Solutions_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/softeon-named-leader-in-spark-matrixtm-for-warehouse-management-system-market-q3-2024-by-quadrant-knowledge-solutions-302245354.html
Artificial Intelligence
Vantiva Unveils ONYX, its latest Smart Media Device with Advanced AI Capabilities at IBC 2024
This high-end Wi-Fi 6 enabled set-top box opens door for range of AI uses cases including event detection within video and image enhancement
PARIS, Sept. 11, 2024 /PRNewswire/ — Vantiva (Euronext Paris: VANTI), a global technology leader enabling NSPs to connect consumers worldwide, today introduced the ONYX 4K Ultra HD Android TV set-top box, the latest AI-enabled platform to be launched by Vantiva. Equipped with an extremely powerful 40K quad-core processor and featuring a 4 TOPS NPU, the ONYX STB is one of the first to incorporate innovative AI capabilities that open the door to numerous next-generation use cases including identifying and locating specific events in video (event detection within video) and image enhancement features such as sharpening (super resolution) or decreasing grain (advanced denoising). The ONYX will be demonstrated at IBC 2024 in Hall 1, Level 2, Balcony Suite 1.BS21, Rai, Amsterdam, Sept. 13 – 16.
“The expansion of AI technology into video delivery is driving further innovations and is set to completely transform the home entertainment sector,” said Leopold Diouf, Senior Vice President of the Product Division at Vantiva. “As the central hub of the home entertainment ecosystem, intelligent set-top boxes, like ONYX, play a crucial role in this AI revolution, enabling the integration of new added value services, such as predictive maintenance and enhanced security for NSPs and more personalized content for consumers. Furthermore, as ONYX supports HDR10, HDR10+ and Dolby® Vision formats, end-users will be able to enjoy a more immersive video experience.”
With the latest, most efficient and highest-performing dual-band Wi-Fi 6 technology, the ONYX allows for video streaming over Wi-Fi with support for IPTV and Over-the-Top (OTT) services such as Netflix, Hulu and Disney Plus. This allows more flexibility and mobility in the placement of the STB. The ONYX is running on Android TV 14 software and is ready for RDK as the bootloader can support both standards. The device is equipped with a quad-core processor, a powerful NPU, Bluetooth 5.2 LE technology and supports the latest Video Codecs H.266/VVC. This makes it a future-proof platform for enhanced services and data analytics features.
The ONYX will have the option for Far Field Voice (FFV) control with up to four microphones. This enables the end-user to have a true ‘lie-back’ experience where they will only need their voice to search or control the volume without having to find and press a button on the remote control. FFV will effectively incorporate smart assistant features into the STB and complement AI functionality as Large Language Models continue to evolve. Vantiva has designed this platform with flexibility in mind so it can be configured to suit the requirements of operators.
The ONYX casing is designed with recycled plastics and uses a USB-C power connector to maximize the re-use of power supply units. Additionally, the Bluetooth 5.2 LE technology enhances audio quality and manages power consumption more effectively, resulting in longer battery life for Bluetooth devices.
PDF: https://mma.prnewswire.com/media/2502902/Vantiva_EN.pdfLogo: https://mma.prnewswire.com/media/2388773/Vantiva_Logo.jpg
Contacts:
Vantiva Press [email protected]
Thatcher+Co. for Vantiva [email protected]
View original content:https://www.prnewswire.co.uk/news-releases/vantiva-unveils-onyx-its-latest-smart-media-device-with-advanced-ai-capabilities-at-ibc-2024-302245147.html
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