Assa Abloy

Stockholm, Swedenwww.assaabloy.com/en/com/
Invested through
  • Triodos Global Equities Impact Fund
  • Triodos Impact Mixed Fund - Defensive
  • Triodos Impact Mixed Fund - Neutral
  • Triodos Impact Mixed Fund - Offensive
Asset ClassesListed equity
Impact strategyImpact Equities and Bonds
Bloomberg tickerASSAB SS
ISIN codeSE0007100581
Industry groupCapital Goods
Aligned with SDGs

Assa Abloy is the global leader in door opening solutions. It has a complete range of door opening products, solutions and services for the institutional, commercial and consumer markets. It offers mechanical and electro-mechanical locks, digital door locks, security doors, entrance automation, hotel security and secure identity solutions, primarily in identity and access management, as well as a number of other related products and services.

The company was formed in 1994 through the merger of ASSA in Sweden and Abloy in Finland. Since then it has grown (both through M&A and organic growth) from a regional company to an international group with 48,500 employees and annual sales of SEK 88 billion (€ 9B).

Investment rationale

The built environment accounts for 28% of operational energy consumption, so there is a need to make buildings more energy efficient. Entrance openings in buildings can attribute to significant energy loss, for example an automated door in a heated industrial hall can save up to 2,000 m3 of gas a year per door by preventing heated air from leaking out of the building. Assa Abloy derives a third of its sales from entrance systems such as automated revolving doors, sliding doors and industrial doors, which are designed to improve thermal insulation of the building. Remaining sales are derived from lock systems, security doors and hardware, which contribute to building safety and security.

The company takes sustainability into consideration for nearly every new product development by utilising their proprietary Sustainability Compass. This tool assesses how a product scores on the three topics Reduce, Reuse and Recycle from a full life-cycle perspective and supports sustainable innovation by setting a goal to continuously lower impact compared to the previous product. By using this tool and other strategies, over the last five years the company has shown exemplary progress on its sustainability goals: a 30% energy reduction, 28% waste reduction and 50% water reduction per revenue. The company also set ambitious targets for the future and aims to have 95% of its suppliers covered by sustainability audits in 2025 and to halve carbon emissions by 2030 in line with a 1.5° global temperature rise.