Access Solutions

Strong Organic Net Sales Growth

Access Solutions achieved strong organic net sales growth of 5.0%. Total sales amounted to CHF 1,205.0 million. Price realizations contributed 1.4% to the organic net sales growth while volumes grew by 3.6%. All core countries contributed to the volume growth. All major product clusters – electronic access solutions, entrance systems control, automatics, lodging, and door closers – grew organically in the period under review, as did after-sales services.

All core markets recorded positive organic net sales growth. North America reported good growth of 5.6% driven by solid demand in hospitality and workforce management, also supported by volume growth of automatic door hardware solutions. Germany continued its growth trajectory and gained market share in H1 2024/25, with strong organic growth of 10.5%. Strong volumes were generated in project business, in particular in the airports verticals. The order book remains strong in Germany. UK/Ireland grew organically by 9.9% on the back of strong volumes in a challenging door closer market. Growth was driven by larger project wins in airports, stadiums, and commercial. Order books remained strong. The country also successfully closed the divestment of the margin-dilutive service business for entrance systems automatics. Switzerland saw volume growth in project business in the commercial building sector and automatics, with organic net sales growth of 2.9%. Australia/New Zealand grew organically by 4.0%, with strong growth in automatics and in multi-housing, aged-care, and healthcare. The two growth markets India and China recorded good organic growth with China delivering above Group level despite headwinds and challenging market conditions.

dormakaba continued on its transformation path, accelerating the build-up of shared services for transactional HR and Finance activities. As a result, one-time work-shadowing and operational costs increased. Nevertheless, dormakaba was able to absorb those and even managed to increase adjusted EBITDA margin for Access Solutions slightly, supported by volume growth and price increases. Adjusted EBITDA for Access Solutions amounted to CHF 183.9 million, which represents an adjusted EBITDA margin of 15.3%.