20% - Assa Abloy

The ASSA ABLOY share
Share price trend in 2007
The closing price of ASSA ABLOY’s Series B share at the end
of 2007 was SEK 129.75 (149.00), equivalent to a market
capitalization of SEK 47,203 M (54,521). The ASSA ABLOY
share fell 13 percent compared with its closing price at the
end of 2006. During the same period, the OMXS All Share
Index Stockholm fell by 6 percent. The highest closing
price of the share was SEK 164.00, recorded on 3 April, and
the lowest was SEK 124.50, recorded on 20 December.
Listing and trading
ASSA ABLOY’s Series B share is listed on the OMX Nordic
Exchange, Stockholm Large Cap. The share has been listed
on the Stockholm Stock Exchange since 8 November 1994.
During the year, a total of 675 million shares (816)
were traded, which is an average of 2.7 million shares (3.3)
a day and is equivalent to about 195 percent (229) of the
listed shares.
Ownership structure
The number of shareholders at year-end was 23,961
(26,118). Investors outside Sweden accounted for 49 percent
(53) of the share capital and 33 percent (36) of the
votes. The ten largest shareholders accounted for 40 percent
(32) of the share capital and 59 percent (54) of the
Share price trend and trading 1998–2007
200
150
100
50
30
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Data per share
The ASSA ABLOY share
93
votes. Shareholders with more than 50,000 shares
accounted for approximately 2 percent of the total
number of shareholders, 93 percent of the share capital
and 95 percent of the votes.
Share capital and voting rights
The share capital at year-end amounted to SEK
365,918,034, distributed among 19,175,323 Series A
shares and 346,742,711 Series B shares. All shares have a
par value of SEK 1.00 and provide the holders with equal
rights to the company’s assets and earnings. Each Series A
share carries 10 votes and each Series B share one vote.
The trading lot is 200 shares.
Dividend and dividend policy
The Board of Directors and the President propose that a
dividend of SEK 3.60 per share (3.25), a maximum total
amount of SEK 1,317 M, be paid to shareholders for the
2007 financial year, equivalent to a direct return of 2.8 percent
(2.2) on the Series B share. The aim is that, in the long
term, the dividend should be equivalent to 33–50 percent
of ASSA ABLOY’s earnings after standard tax of 28 percent,
but always taking into account ASSA ABLOY’s long-term
financing requirements.
SEK/Share 1 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
Earnings after tax
and dilution 8 1.76 2.00 3 2.73 2.98 2 3.53 3.31 2 6.33 6.97 7.99 9 9.02
Dividend 0.60 0.74 0.90 1.00 1.25 1.25 2.60 3.25 3.25 3.60 4
Direct return, % 5 0.8 0.6 0.5 0.7 1.3 1.5 2.3 2.6 2.2 2.8
Dividend, % 6, 8 33.5 32.6 30.9 30.5 32.2 33.9 42.0 47.6 64.0 40.5
Share price at year-end 75.65 119.50 184.50 151.00 99.50 85.50 113.50 125.00 149.00 129.75
Highest share price 92.73 140.00 206.70 186.00 159.50 110.00 113.50 126.00 151.00 164.00
Lowest share price 48.07 73.21 110.50 94.50 76.50 67.00 84.00 89.25 109.00 124.50
Shareholders’ equity 8 9.93 16.95 3 30.58 3 35.80 35.85 31.23 34.74 42.85 39.13 46.76
Number of shares
(thousands) 7 295,448 324,200 356, 712 361,730 370,935 370,935 378,718 378,718 376,033 380,713
1 Adjustment made for new issues.
2 Excluding non-recurring items.
3 Key data adjusted following
change in accounting principle.
4 Proposed dividend.
120,000
100,000
80,000
60,000
40,000
20,000
Series B share OMX Stockholm_PI Shares traded, thousands (incl. off-floor trading) OMX AB
Dividend per share 1998–2007
SEK
4.0
5 Dividend as percentage of share price at year-end.
6 Dividend as percentage of adjusted earnings in line with dividend policy.
7 After full dilution.
8 1998–2003 have not been adjusted for IFRS.
9 Excluding restructuring costs.
3.5
3.0
2.5
2.0
1.5
1.0
0.5
0.0
98
99 00 01 02 03 04 05 06 07
Dividend per share, SEK
(2007 proposed dividend)