Access Solutions

Organic net sales growth and further margin expansion

Access Solutions, dormakaba’s largest segment, continued to report solid results with net sales of CHF 2,377.2 million and organic net sales growth of 3.0% on prior year, driven by volume gains of 0.5% and positive pricing of 2.5%. Strong momentum in European markets was partially offset by a weak first half in North America and a challenging year in the UK & Ireland. The adjusted EBITDA margin continued to improve to 16.7%, up 100 bps year-on-year, reflecting the successful execution of the Shape for Growth (S4G) initiative. In a year marked by high volatility and subdued volumes in the first half, the strong increase in order intake in the first half further accelerated in the second half.

One of the main contributors to this performance was Switzerland, with reported net sales of CHF 229.9 million and organic net sales growth of 4.8% year-on-year. Switzerland continued to post solid growth amid a stagnant market through market share gains in Access Automation Solutions, supported by the introduction of innovation such as EasyAssist¹, MotionIQ², Resivo Business/Matrix Cloud³ and Skyra⁴. Consolidation in the healthcare sector, demand in critical infrastructure and an expansion of services also contributed to the country’s performance.

Germany posted 3.4% organic net sales growth year-on-year to CHF 354.3 million. As the Access Solutions market leader in Germany, the country’s performance reflected strong wins across key verticals, in particular data center, marine, healthcare, banking and aviation. New product launches contributed to market share gains in Access Automation Solutions (EasyAssist) and Access Control Solutions (Resivo Business).

North America, dormakaba’s largest market, reported net sales of CHF 687.2 million and organic net sales growth of 3.3% on the prior year. Following a softer first half due to lower hospitality, business regained momentum in the second half under new regional leadership. The unit closed key product gaps, strengthened its hardware portfolio with the introduction of the BEST Precision Barrier Free 5lb⁵ push exit device, and expanded its access automation offering.  The acquisition of Avant-Garde (January 2026) and Airsphere (May 2026), combined with the global roll out of dormakaba’s new Argus Air XS⁶ electronic boarding gates, created further upside potential in aviation, accelerating the launch of the Aviation vertical across North America and helping secure major project wins in the US. A pick-up in hospitality further accelerated order intake, strengthening the unit’s pipeline for the coming year. Following the close of FY 2025/26,  dormakaba acquired the operating business of Azure in August 2026. Azure is a US-based supplier of next-generation access control hardware, and the transaction further strengthens dormakaba’s position in the US access control market.

Australia/New Zealand (ANZ) delivered organic net sales growth of 1.3% to CHF 192.0 million. ANZ faced headwinds in the first half; volume intake accelerated in the second half, with a major critical infrastructure project win, as well as wins in the education segment supported by the acquisition of Vintech Systems in May, a specialist in lodging access control systems. The acquisition strengthened ANZ’s Access Control Solutions (ACS) portfolio, establishing dormakaba as the leading provider in the lodging market. New Zealand reported aviation wins in Auckland, Wellington, Christchurch and Queenstown.

The UK & Ireland (UKI) reported organic net sales decline of -2.0% to CHF 94.7 million, reflecting completion of major hospitality projects. In a year marked by uncertainty in the region, the unit secured large public sector project wins in the fourth quarter and entered the coming year with a robust order book.