Good figures - integration on track
Dormakaba increased sales by 9.4% to 2.52 billion Swiss francs for the 2016/17 financial year (previous year: 2.3 billion Swiss francs), CEO Riet Cadonau announced at today's media conference in Zurich. The Group's growth amounted to 4.3%. All segments had contributed to this, with Access Solutions Americas and AS Pacific as well as Key Systems making the largest contribution.
According to Riet Cadonau, the Group is on track with the integration process of Dorma and Kaba, which is having a positive impact on profitability through synergy effects and cost reductions. In addition to the acquisitions made in the reporting year 2016/17, the very good business development in AS Americas and AS Pacific also contributed to the increase in Ebitda by a total of CHF 54.6 million to CHF 387.3 million. The Ebitda margin reached 15.4% (previous year: 14.4%). The Group achieved in the Fiscal year 2016/17 achieved a result of 295.2 million Swiss francs (previous year: 262.0 million Swiss francs).
Integration process soon completed
According to Cadonau, the Group continued to systematically drive forward the integration process in fiscal 2016/17. The implementation of clearly defined integration projects such as the merger of the legal entities in the individual countries as well as further investments in a common, globally oriented IT infrastructure and the establishment of the new umbrella brand were at the forefront, as the CEO further emphasized. According to Cadonau, the integration process is now entering the final relevant phase: Dormakaba expects the integration to be largely completed as planned by the end of fiscal 2017/18
Strategically important acquisitions
In the year under review, the Group strengthened its market position in North America: the acquisitions of Mesker and Best Access Solutions have made it a top 3 supplier of door hardware and access control solutions in the attractive North American market, Cadonau said.
Focus on digitization
The CEO sees three key challenges for the 2017/18 financial year:
- The group must successfully manage the final phase of the integration process.
- The company intends to focus strongly on digitization and invest accordingly in employees, processes and technologies.
- In addition, and this is something that every company should strive for, they continue to focus on business development that delivers products, solutions and services that create added value for the customer.
Higher dividend proposed
The Annual General Meeting of Dormakaba will take place on October 17, 2017. As a consequence of the very good results, the Board of Directors therefore proposes the payment of a dividend of 14 Swiss francs per registered share for the 2016/17 financial year, which corresponds to an increase of 2 Swiss francs compared to the previous year. pd/rs
