Assa Abloy sees growth in 2024, aims to prioritize biometrics with HID in 2025

Access control giant Assa Abloy, which owns biometrics firm HID Global, has published its Annual Report for 2024.

“We can look back at a successful year in which Assa Abloy reached several milestones,” says Nico Delvaux, president and CEO, in a release. “In a challenging market we delivered record earnings with the operating margin in line with our financial target. We achieved our Scope 1 and 2 carbon emission reduction target one year ahead of plan.”

The Stockholm-based group celebrated its 30th anniversary in 2024, which saw it make 26 acquisitions, register more than 250 new patents, and post 10 percent annual growth and an operating margin of 16.2 percent.

HID Global accounts for around 60 percent of Assa Abloy’s Global Technologies division. The report says its recurring revenue continues to grow “at a double-digit pace.” The Global Technologies division “accelerated the sales footprint of HID’s facial biometrics offering through a vertical sales focus.”

The report includes comments from Björn Lidefelt, executive vice president of HID Global, who says that while 2024 brought macroeconomic headwinds with market uncertainty, long-term underlying industry drivers remain robust.

“On the commercial side, we have worked diligently to enable and drive the adoption of mobile credentials, especially within access control,” he says. “We have also launched a high-quality facial recognition offering including a camera, module, and software that we are now scaling for additional use cases.”

“Focusing on cost improvements and automation has enhanced scalability in capabilities, allowing us to expand geographically and integrate acquisitions seamlessly.” The firm says it aims to grow across a few key market areas, including access control, biometrics, extended access readers, RFID components, real-time location services and public key infrastructure.

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access control  |  Assa Abloy  |  biometrics  |  financial results  |  HID  |  stocks