Outlook

For the financial year 2025/26, dormakaba expects a robust trading environment in the context of continued global uncertainties surrounding geopolitical tensions and trade tariffs. Lower interest rates in Europe, regulatory changes, the infrastructure package in Germany, as well as increased investment activities in the US should underpin opportunities for growth.

Supported by a strong order book and new, innovative products, dormakaba is confident that it will continue growing organically. The company will rigorously execute its strategy and transformation, leveraging shared service centers and boosting operational efficiency. In addition, dormakaba will advance with its commercial transformation and complexity reduction initiatives to further accelerate profitable growth.

For 2025/26, dormakaba expects organic net sales growth in the range of 3–5% and an adjusted EBITDA margin of above 16%. To emphasize an increased focus on cash generation, the company expects an adjusted operating cash flow margin of 11.5–12.5% for the financial year 2025/26.