organic net sales growth
+3.3%
CHF 488.4m
adjusted EBITDA margin
21.0%
+130 bps
In the financial year 2024/25, Key & Wall Solutions and OEM (KWO) continued its trajectory of good organic net sales growth and record performance with an adjusted EBITDA margin of 21.0%. The business segment reported total net sales of CHF 488.4 million and organic net sales growth of 3.3%, of which 0.4% were attributable to volume growth and 2.9% to price realization. The main growth drivers were the continued exceptional performance of the Movable Walls business, as well as increased sales in Key Systems. The OEM business recorded a decline in sales, primarily due to softer demand from the US in the second half of the year.
Key Systems recorded a stable demand in North America and strong volume growth in Latin America. Key Systems EMEA reported stable net sales, while India and South-East Asia showed significant volume growth. Overall, the business unit recorded a solid order intake in the financial year. Adjusted EBITDA remained stable in 2024/25.
Movable Walls managed to maintain the strong momentum of the previous year. All regions contributed to strong organic net sales growth in the financial year 2024/25. Demand remained at a high level, resulting in a strong order backlog which will enable future growth. The adjusted EBITDA margin increased in all regions, reaching new record levels in North America.
The OEM business was impacted by softer demand from the North American market as a consequence of global trade tariffs and overall economic uncertainties. In this context, the business recorded a mid single-digit decrease in net sales year-on-year. Effective cost management enabled the business to increase its adjusted EBITDA margin over the previous year.