ASSA ABLOY is celebrating after being named in the Forbes’ list of the world’s 100 most innovative companies for 2013.
The global door opening solutions experts appear on the prestigious list at 78, one position ahead of computer giant Apple.
Forbes utilises an algorithm to rank the companies based on what it calls their ‘innovation premium’, the difference between market capitalisation and a net present value of cash flows from existing businesses. It also takes anticipated growth into account.
ASSA ABLOY was formed in 1994 and now employs around 43,000 people in more than 70 countries. It boasts overall Group sales of around SEK 47 billion ($7.2bn, £4.6bn) and an operating profit of SEK 7.6 billion ($1.16bn, £745m).
Johan Molin, President and CEO of ASSA ABLOY, said: “I’m very pleased that we have achieved such success with our R&D.
“This is the result of our substantial investments in innovation in the past seven years. ASSA ABLOY’s R&D investments have increased by 129 per cent since 2005.
“Our ambition is to be the industry’s most innovative company, and in the first half of 2013 more than 26 per cent of our sales came from new products launched in the past three years.”