Segment Access Solutions EMEA5 min.
AS EMEA achieved total sales of CHF 377.3 million in the first half of financial year 2021/22. Organic sales grew by 6.7% compared to the previous year.
All regions showed good organic sales growth thanks to a solid business performance, especially in product sales. Region CEERT (Central Eastern Europe, Russia, and Turkey) continued to see strong growth, especially in Turkey, and was able to overcompensate for weaker retail demand in Russia. Order intake in the Middle East remained strong, with projects such as Qatar airport and a high order-to-sales conversion. In Scandinavia, organic growth and profitability were mostly driven by the turnaround completed in Norway following the divestment of the project installation business in August 2020. The UK and the Benelux region saw strong sales growth, especially in services and distribution.
Growth was strong across all major Product Clusters, including Door Hardware, Safe Locks, Entrance Systems and Electronic Access & Data, as well as in the Services business.
Adjusted EBITDA increased by 6.2% to CHF 34.5 million compared to the previous year, supported by strong volume growth and price increases. The rise came despite supply chain constraints, labor shortages (especially for service technicians) and increases in raw material and freight costs. These factors caused a decline in the adjusted EBITDA margin of 0.4 percentage points to 9.1%.
For the second half of the financial year, AS EMEA expects continued good organic growth based on a strong order book and a solid project pipeline across major markets. However, visibility is limited by supply chain issues and labor availability, which could impact the business negatively.
The segment will continue to benefit from the development of new, innovative offerings such as EntriWorX, a solution for “intelligent doors” that makes it easier for our customers to do business while raising productivity across all phases from planning to operation. Premarketing for this solution has started in several European countries, including France, the UK, and the Benelux region.
The segment has started to execute the new strategy Shape4Growth to accelerate profitable growth, with a clear focus on customer centricity, market expansion, sales excellence, and consolidation of smaller countries into regional structures. The sales excellence program focuses in particular on the rollout of customer relationship management across countries, pipeline management, and the coaching and upskilling of sales resources.
Growth will be supported by the acquisition of Fermatic Group (France), which was completed in October 2021. Initial cross-selling opportunities for Entrance Systems and Electronic Access & Data businesses have already been realized.
Key figures – segment AS EMEA
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Reporting half-year ended 31.12.2021
Reporting half-year ended 31.12.2020
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