Half-year Report 2018/19

2 min.

Segment Access Solutions DACH

Sales growth and higher profitability

Operational performance

AS DACH generated total sales of CHF 430.0 million in the period under review, representing organic sales growth of 2.6% compared to the prior-year period. The segment achieved EBITDA of CHF 78.5 million, up 6.4% compared to the previous year; the EBITDA margin of 18.3% was higher than in the previous year (17.5%). Cost savings from production footprint adjustments, higher volumes and higher sales prices overcompensated the effect of raw material and of labor cost inflation in Germany.

Market development

All countries of AS DACH contributed to organic sales growth, with lowest growth in Germany.

In particular, Door Hardware, Entrance Systems, Mechanical Key Systems and Services grew compared to the previous year. Interior Glass System sales were below previous year. Order intake in the project-driven Electronic Access & Data business was good but given that there were more smaller projects compared to the previous year, it needs more time until revenues are realized.

The relocation of the production of certain standard door closers from Germany to Asia has been completed. The final steps of the post-merger integration are currently executed. However, as already disclosed, full efficiency gains will only materialize in financial year 2019/20. This is mainly due to the socially acceptable measures relating to job reductions in Germany agreed to with the social partners, as well as an adjustment of the timeline for some major IT projects.

dormakaba was exhibiting at the BAU 2019 in Munich (Germany), which is one of the world’s most important trade fairs for the construction industry. It showcased its digital solutions, its offering for key verticals such as lodging, airports, healthcare and education, and presented its latest product innovations. These range from design-oriented sensor barriers like the Argus 80 through a flexible escape route security system, new self-locking panic locks and fittings to Mobile Access Solutions.

Key figures – segment AS DACH

 

 

 

 

 

 

 

 

 

in CHF million

 

Reporting half-year ended 31.12.2018

in %

 

Reporting half-year ended 31.12.2017

in %

 

Change on previous year in %

Net sales third parties

 

266.5

 

 

260.6

 

 

2.3

Intercompany sales

 

163.5

 

 

160.3

 

 

 

Total segment sales

 

430.0

 

 

420.9

 

 

2.2

Change in segment sales

 

9.1

2.2

 

19.5

4.9

 

 

Of which translation exchange differences

 

–1.8

–0.4

 

16.5

4.1

 

 

Of which acquisition (disposal) impact

 

0.0

0.0

 

–5.4

–1.3

 

 

Organic sales growth

 

10.9

2.6

 

8.4

2.1

 

 

Operating profit before depreciation and amortization (EBITDA)

 

78.5

18.3

 

73.8

17.5

 

6.4

 

 

 

 

 

 

 

 

 

Average number of full-time equivalent employees

 

3,475

 

 

3,530

 

 

 

Net sales (in CHF million) – segment AS DACH

Access Solutions APACAccess Solutions EMEA

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