Flexible Electronics News

ASSA ABLOY Reports One-Off Costs in Second Quarter Earnings

Costs are related to its Chinese operations in the Asia Pacific Division.

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By: DAVID SAVASTANO

Editor, Ink World Magazine

ASSA ABLOY reports one-off non-cash costs of SEK 6,000 million ($686 million) in the second quarter, related to its Chinese operations in the Asia Pacific Division. One-off costs of SEK 5,600 million are attributable to impairment of goodwill and other intangible assets, while SEK 400 million is related to write-downs of operating assets.   “The one-off costs reflect the continued challenging market conditions for new projects in China. In our updated China strategic review, we expect continue...

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