Dormakaba Reports Strong Organic Growth and Margin Expansion for 2023/24

Dormakaba Holding AG has announced a robust financial performance for the fiscal year 2023/24, with notable organic growth and margin expansion. The company recorded a 4.7% increase in organic net sales, reaching CHF 2,837.1 million, despite a challenging market environment. Adjusted EBITDA rose to CHF 416.9 million, resulting in a margin of 14.7%, a significant 120bps improvement.

The company's transformation program played a key role in these achievements. The program, launched in July 2023, has enhanced operational efficiency and procurement processes. Net profit stood at CHF 82.2 million, influenced by one-off transformation-related charges.

Dormakaba's strong balance sheet showed a reduction in net debt by CHF 142.1 million to CHF 454.8 million, and a substantial increase in ROCE to 29.0%. Free cash flow generation was robust at CHF 204.6 million, a 15.9% increase from the previous year.

The company’s strategy, focusing on transforming from shape to growth, has been reiterated and enhanced. Dormakaba aims to leverage market trends and growth opportunities, targeting an organic net sales growth of 3-5% and an adjusted EBITDA margin of at least 15% for 2024/25.