dormakaba with strong growth in first half of financial year 2021/22 (1 July 2021 - 31 December 2021)
J i m - H e n g L e e ,
C E O
B e r n d B r i n k e r ,
C F O
Half-year results 2021/22
4
Taking on the challenge
The first two months as CEO
• Focus on S4G strategy implementation
• Ensure a smooth transition in leadership amid an ongoing pandemic situation
• Meet as many people as I can to build bridges and create trust
• Remind everyone that dormakaba remains a healthy company with huge potential worth fighting for
3
Presentation on half-year results 2021/22
2 March 2022
Half-year results 2021/22 at a glance
Strong growth in first half of financial year 2021/22
Strong organic sales growth slightly above full-year guidance, all segments contributed to growth
Growth driven by continued strong recovery in Asia, continued good demand in Europe and an improvement of the US commercial construction market
Adjusted EBITDA increased by 7.9% driven by good growth. On top positive effects from currency translation and from acquisitions and divestments
Slight decline of adjusted EBITDA margin due to impact of higher raw material and freight costs
Operating cash flow impacted by higher inventories
Slightly higher net profit despite CHF 12 million costs for implementation of new strategy Shape4Growth
CHF 1,349.6 million
Net sales
(previous year CHF 1,227.5 million)
CHF 193.5 million
adjusted EBITDA
(previous year CHF 179.3 million)
CHF 100.6 million
Net profit
(previous year CHF 99.9 million)
6.6%
Organic sales growth
14.3%
Adjusted EBITDA margin (previous year 14.6%)
3.7%
Operating cash flow margin (previous year 15.8%)
4
Presentation on half-year results 2021/22
2 March 2022
Half-year results 2021/22 at a glance
Highlights and headwinds
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Organic sales growth in all segments as well as promising order intakes and backlogs
Strong business in Asia, continued demand in Europe and improvement of US commercial construction market
Sales price increases and procurement savings for financial year 2021/22 on track
Ambitious new mid-term targets released at CMD; newly defined growth strategy will ensure that dormakaba will meet these targets
Consistent implementation of new strategy has started
5
Presentation on half-year results 2021/22
Labor shortages, supply chain issues like for electronic components, and cost inflation continued to affect business
Adjusted EBITDA margin impacted by product mix, higher raw material, freight and labor cost
AS AMER still negatively impacted by Mesker, structured divestment process initiated
Weak Movable Walls business with continued project and investment delays
Management changes created short-term insecurities within dormakaba
2 March 2022
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DORMA+KABA Holding AG published this content on 02 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 March 2022 05:36:06 UTC.
Dormakaba Holding AG is a Switzerland-based company engaged in the provision of access solutions and systems in the security industry. The Company operates in three business segments: the Access + Data Systems segment products range from mechanical and mechatronic lock cylinders, networked access control solutions, pushbutton locks, digital locking systems, access control and management software, card readers, and hotel locking systems to electronic high-security locking solutions, Automated Teller Machine (ATM) locks, transit and cargo security products, as well as locks and cylinders for Original Equipment Manufacturer (OEM) use; the Key Systems segment offers products, ranging from keys, key blanks and transponder keys to mechanical, electronic and (semi-)industrial key cutting and origination machines, as well as duplication equipment, and Other segment includes operations involving contactless identification systems, which are based on Legic smartcard technology.