Dormakaba Holding AG
SIX:DOKA

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Dormakaba Holding AG Logo
Dormakaba Holding AG
SIX:DOKA
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Price: 64 CHF -0.93% Market Closed
Market Cap: 2.7B CHF

Dormakaba Holding AG
Investor Relations

Dormakaba Holding AG has carved a robust niche in the security and access solutions industry, a realm where precision and reliability are paramount. Emerging from a blend of tradition and innovation, Dormakaba's history is rooted in the merger of two Swiss stalwarts, Dorma and Kaba, back in 2015. This fusion catapulted the company into the global arena with a comprehensive portfolio that spans door hardware, access control systems, and secure entryways. Headquartered in Switzerland, Dormakaba has substantial operations worldwide, leveraging its extensive R&D capabilities to remain at the forefront of technological advancements in safety, security, and operational efficiency.

The company's business model revolves around offering integrated solutions tailored to various sectors, including commercial, residential, institutional, and industrial applications. With a focus on seamless integration, Dormakaba provides end-to-end solutions comprising both products and services. The company thrives on a diverse revenue stream, garnering income from the sale of physical locks and automated doors to advanced digital access systems and service contracts. By continuously innovating and expanding its product range and geographical reach, Dormakaba sustains a competitive edge, addressing burgeoning security demands in an increasingly interconnected world. Its attentive approach to mergers and acquisitions further enhances its capabilities and market presence, ensuring steady growth in an evolving industry landscape.

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Last Earnings Call
Fiscal Period
Q2 2022
Call Date
Mar 2, 2022
AI Summary
Q2 2022

Sales Growth: Dormakaba reported 10% year-over-year sales growth for the first half of 2021/22, with organic growth accounting for 6.6%.

Profitability: Adjusted EBITDA increased by 7.9%, but the margin declined by 30 basis points to 14.3%, mainly due to higher raw material, labor, and freight costs.

Cash Flow: Operating cash flow dropped to CHF 88 million, with free cash flow turning negative at CHF -54 million because of higher inventories and M&A activity.

Guidance Reaffirmed: Management confirmed its full-year outlook for 3–5% organic sales growth and an adjusted EBITDA margin slightly above 14.2%.

Cost Offsets: Price increases and procurement initiatives are expected to fully offset cost inflation in the second half.

Segment Dynamics: APAC saw standout growth of 20%, while Americas and DACH also posted solid gains. Movable Walls business remains weak due to project delays.

Restructuring & One-Offs: One-off costs related to the Shape4Growth strategy and IT investments are ongoing, with up to CHF 25 million in severance expected but not yet finalized.

Management Change: Kaspar Kelterborn will become interim CFO in April as the company seeks a permanent replacement.

Key Financials
Revenue
Up 10% YoY
Organic Sales Growth
6.6%
Adjusted EBITDA
CHF 193.5 million
Adjusted EBITDA Margin
14.3%
Net Profit
CHF 100.6 million
Gross Margin
40.8%
Operating Cash Flow
CHF 88 million
Operating Cash Flow Margin
3.7%
Free Cash Flow
CHF -54 million
Return on Capital Employed (ROCE)
25.8%
Net Debt
CHF 708 million
Net Debt to EBITDA Ratio
1.9x
R&D Ratio
4%
Income Tax Rate
23%
CAPEX
CHF 36 million
Earnings Call Recording
Other Earnings Calls
2022
2020

Management

Dr. Till Reuter
Chief Executive Officer
No Bio Available
Rene Peter
Chief Financial Officer ad Interim
No Bio Available
Mr. Carsten Franke
Chief operations Officer
No Bio Available
Dr. Patrick Grawehr
General Counsel
No Bio Available
Ms. Mirja Becker
Senior Vice President of Group HR
No Bio Available
Mr. Stefano Zocca
President Key & Wall Solutions
No Bio Available
Mr. Stephen Bewick
Chief Commercial Officer
No Bio Available
Ms. Christina Johansson
Chief Financial Officer (Leave of Absence)
No Bio Available
Mr. Magin Guardiola
Chief Innovation Officer
No Bio Available

Contacts

Address
ZUERICH
Ruemlang
Hofwisenstrasse 24
Contacts
+41448189011.0
www.dormakaba.com