STOCKHOLM, April 24, 2024 /PRNewswire/ -- Strong execution in a challenging market First quarter            Net sales increased by 9% to SEK 35,200 M (32,391), with organic growth of –2% (8) and acquired net growth of 11% (5). Exchange- rates affected sales by 0% (9).  Organic sales growth was stable in Entrance Systems, but declined in Americas, Asia Pacific, EMEIA and in Global Technologies.  Three acquisitions with combined annual sales of about SEK 2,000 M were completed in the quarter. The divestment of PACA in France was finalized. Operating income1 (EBIT) increased by 5% and amounted to SEK 5,427 M (5,186), with an operating margin of 15.4% (16.0). The operating margin1 (EBIT) excluding the acquisition of HHI and divestment of the Emtek/U.S. Smart Residential business was 16.3%. Net income1 amounted to SEK 3,462 M (3,692).  Earnings per share1 amounted to SEK 3.12 (3.32). Operating cash flow amounted to SEK 3,096 M (4,069). Sales and income Full year First quarter 2022 2023 Δ 2023 2024 Δ Sales, SEK M 120,793 140,716 16 % 32,391 35,200 9 % Of which: Organic growth 13,007 3,393 3 % 2,218 –762 –2% Acquisitions and divestments 2,126 10,651 8 % 1,344 3,607 11 %