Organic net sales growth
+2.1%
CHF 468.6m
Adj. EBITDA margin
21.2%
+20 bps
Key & Wall Solutions and OEM (KWO) generated net sales of CHF 468.6 million in FY 2025/26, up 2.1% organically versus the prior year, reflecting positive pricing of 2.9%, which more than offset a volume decline of 0.8%. The adjusted EBITDA margin increased to 21.2%, an improvement of 20 basis points. The segment faced a challenging start to the year due to weaker OEM demand and the postponement of several movable-wall projects in North America. Corrective measures, including tight cost management and the setup of alternative OEM channels, combined with significant demand and project activity improvement during the second half, led to a strong sequential performance, driving both sales acceleration and enhanced profitability.
Reflecting our ambition to become the global leading movable wall provider, a key strategic milestone achieved following the year-end close was the acquisition of Style Group in July 2026. As the UK's leading movable-wall distributor and a trusted partner of Skyfold and Dorma Hüppe for many years, Style Group expands our footprint in Europe’s second largest movable-walls market, deepens our customer proximity, and further strengthens KWO’s leading position in high-value movable-wall solutions.