First half of the financial year 2023/24

dormakaba reports organic growth of 3.9% and significant margin improvement

dormakaba Holding AG / Key word(s): Half Year Results First half of the financial year 2023/24: dormakaba reports organic growth of 3.9% and significant margin improvement 05-March-2024 / 06:30 CET/CEST Release of an ad hoc announcement pursuant to Art. 53 LR The issuer is solely responsible for the content of this announcement. Ad hoc announcement pursuant to Art. 53 LR

• Organic sales growth of 3.9% (of which 3.1% relates to pricing)
• Adjusted EBITDA increased by 8.7% to CHF 200.7 million (previous year: CHF 184.6 million), with an adjusted EBITDA margin of 14.6% (previous year: 13.0%)
• Net sales of CHF 1,376.5 million (previous year: CHF 1,419.8 million); decrease of 3.0% due to a negative currency translation effect (-6.7%)
• Net profit of CHF 48.5 million (previous year: CHF 54.3 million), including restatement in compliance with the Swiss Accounting and Reporting Recommendations on Consolidated Financial Statements (Swiss GAAP FER 30)
• Cash generated from operations increased due to improvements in net working capital to CHF 146.0 million (previous year CHF 137.6 million)
• Outlook for full financial year 2023/24 unchanged

 

Rümlang, 5 March 2024 – dormakaba posted organic sales growth of 3.9% in the first half of the financial year 2023/24, in line with guidance and mainly driven by pricing. The adjusted EBITDA margin rose by 160 basis points (bps) to 14.6%. This reflects contributions from both business segments, benefiting from increased operational and procurement efficiencies generated through dormakaba’s transformation program as well as normalizing supply chains and a favorable product mix.

Till Reuter, CEO dormakaba, says: “Our results highlight how everyone at dormakaba contributes to effectively executing our transformation program as planned. We continued to grow organically in line with our guidance, and the significant increase in our margins shows that the expected positive financial effects come to life and that we have progressed on our path towards sustained growth and profitability.”