Dormakaba Holding AG Reports Positive Growth and Margin Improvement in H1 of FY 2023/24

Dormakaba Holding AG announced its half-year results for the financial year 2023/24, showcasing an organic sales growth of 3.9% and an increase in adjusted EBITDA margin by 160 basis points to 14.6%. The report highlights a significant margin improvement across its business segments, driven by pricing, operational and procurement efficiencies from its transformation program, normalizing supply chains, and a favorable product mix.

Despite a net sales decrease of 3.0%, attributed to a negative currency translation effect, dormakaba's net profit was reported at CHF 48.5 million. This reflects a restatement in compliance with Swiss accounting standards, including a CHF 25.0 million impact from goodwill amortization. The cash flow from operations saw an increase to CHF 146.0 million, attributed to efficient working capital management and enhanced trade receivables collection practices.

The Access Solutions segment reported organic sales growth of 4.5%, primarily due to good price realization. The Key & Wall Solutions and OEM segment, however, experienced a slight decline in organic sales, though it achieved a significant increase in adjusted EBITDA margin to 18.8%. Across the board, dormakaba's focus on its Shape4Growth transformation program contributed to these positive financial results, maintaining its outlook for the full financial year 2023/24.