Dormakaba is growing at double-digit rates
At CHF 1.35 billion, dormakaba's net sales in the first half of the 2021/22 financial year were 10 percent above the previous year's figure. Operating and net profit increased slightly. At the beginning of the year, the locking technology company reorganized its structure.
According to a statement from dormakaba , the globally active locking technology group from the Glattal generated sales totaling CHF 1.35 billion in the first half of the 2021/22 financial year, which ended on December 31, 2021. In a year-on-year comparison, this corresponds to growth of 10.0 percent. The operating result at the EBITDA level increased by 7.9 percent to CHF 193.5 million in the same period. A net profit of CHF 100.6 million was reported compared to CHF 99.9 million in the same period of the previous year.
At 14.3 percent, the EBITDA margin was 0.3 percentage points lower than in the first half of 2020/21. In the statement, dormakaba attributes this “to the product mix, higher raw material and freight costs and increased labor costs”. In the Germany, Austria and Switzerland region, however, the EBITDA margin increased from 17.1 to 18.2 percent year-on-year.
"Due to healthy demand, we were able to achieve strong organic growth," Jim-Heng Lee is quoted as saying in the release. According to dormakaba's CEO, the company was able to record "promising order intake and a good order backlog" in most markets and all segments. The head of the company is confident "that we will continue on this path of growth with the implementation of our new strategy".
dormakaba reorganized its corporate structure with effect from the beginning of the year. In the future there will be “three customer-centric regions and sales organizations” with Americas, Asia Pacific and Europe & Africa, according to the press release. To this end, the DACH and EMEA business areas will be combined in the Europe & Africa region and the Middle East region will be integrated into Asia Pacific. All regions are to be supported “by new global functions such as Marketing & Products or Operations”.