Kaba Group: high net liquidity and equity ratio
The Kaba Group closed the 2014/2015 financial year with extremely good results, the company announced today. Consolidated sales increased by 8.1% and once again exceeded one billion at CHF 1085.2 million. Organically in local currencies, the company had succeeded in increasing sales by 5.4%. All four divisions made a positive contribution to this, according to the statement.
Kaba increased EBITDA by 10.2% to CHF 170.2 million (previous year: CHF 154.5 million) and the EBITDA margin was 15.7%. This was particularly noteworthy because the Group managed to compensate for the unexpected currency-related price pressure in Switzerland triggered by the strong appreciation of the Swiss franc in the second half of the financial year.
According to the figures, net income increased by 8.3% to CHF 98.9 million (previous year: CHF 91.3 million). Earnings per share increased to Fr. 25.6 (previous year: Fr. 24.0).
Strong balance sheet
The Group, it says, closed the year under review with a strong balance sheet: as of June 30, 2015, total assets amounted to 734.3 million Fr. (June 30, 2014: 650.9 million Fr. *). As of June 30, 2015, the company reported net liquidity of CHF 121.2 million (June 30, 2014: CHF 35.4 million) and a high equity ratio of 60.2% (previous year: 49.7%*).
The complete report on the 2014/2015 financial year of Kaba Holding AG as an independent company as well as all publications on the Kaba Group can be found at here to find.
Expectations for the current fiscal year
According to the company, the global environment remains unstable overall. Nevertheless, the merged companies dorma+kaba believes that the economic environment in Europe is tending to be positive. This also applies to North America. The situation in Asia Pacific and other emerging markets (e.g. South America), on the other hand, is considered to be very challenging. At this early stage of the merger of the two companies, it is not possible to set concrete targets for sales and profitability. Dorma and Kaba for the current financial year cannot yet be given, as dorma+kaba Holding AG further writes.
General Meeting of October 20, 2015
According to the press release, the Board of Directors proposes to the Annual General Meeting a dividend of CHF 12 per share for the financial year 2014/2015. This would correspond to a payout ratio of 50.9% of consolidated net income.
The upcoming Annual General Meeting is the 100th Annual General Meeting of Kaba Holding AG and the 1st Annual General Meeting of the dorma+kaba Holding AG. The Board of Directors proposes the re-election of the ten members of the Board of Directors and the election of Ulrich Graf as Chairman of the Board of Directors of dorma+kaba Holding AG, according to a statement. In addition, the Board of Directors proposes the re-election of Rolf Dörig, Hans Gummert and Hans Hess to the Compensation Committee.
* Kaba has applied the Swiss GAAP FER accounting standard since July 1, 2014. For reasons of comparability, the prior year figures have been restated. With the changeover, goodwill and other intangible assets from acquisitions were offset against equity. This resulted in a reduction of the balance sheet and a lower equity ratio as of June 30, 2014.
