Dorma+Kaba: Figures for the first half of the financial year
The merged company Dorma+Kaba has completed its first half of the financial year 2015/2016 and closes with good results, the group has announced.
Consolidated sales were able to exceed the Group increased by 2.6% in the reporting period on a pro forma basis at constant exchange rates, reaching CHF 1135.5 million (reported CHF 947.6 million). Organic sales growth was 1.8%, with acquisition effects contributing 0.8% to sales growth, according to the statement.
Profitability and net income
Dorma+Kaba Holding AG achieved a higher operating result in the reporting period compared to the previous year. Ebitda was CHF 165.4 million (reported 144.6 million: 4 months former Dorma, 6 months former Kaba) and the Ebitda margin had increased to 14.6% (reported 15.3%) compared to 13.7% in the same period last year. The improvement in profitability was mainly due to initial cost savings as a direct result of the merger and a very encouraging business performance in North America, it further said.
The extraordinary result of -34.8 million Swiss francs (reported -34.7 million Swiss francs) exclusively comprises integration costs in connection with the merger of the group, according to the statement. The company closed the first half of the 2015/2016 financial year with a result of CHF 67.1 million (reported CHF 57.4 million).
Market development DACH region
The Access Solutions DACH (AS DACH) segment combines the business activities of the Dorma+Kaba Group in Germany, Austria and Switzerland. In view of the different economic developments in the DACH region, the results of the AS DACH segment for the first half of the 2015/2016 financial year were in line with expectations. The newly created AS DACH segment had generated consolidated sales of CHF 386.1 million in the reporting period (Ebitda margin: 18.9 %).
With regard to economic development in the DACH region, the Executive Report states: "In Germany, the overall economic situation improved over the course of the reporting period; the Austrian economy again showed slight, albeit still very subdued growth. By contrast, growth momentum in Switzerland weakened, not least as a result of the strong appreciation of the Swiss franc from mid-January 2015." Thanks to investments in automation and internalization of the value chain made in recent years, the resulting price pressure in Switzerland could be largely compensated and the margin maintained, as the company lets it be known.
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