Report
Delphine Brault

Dormakaba : End of the year (Q4) should mark a brutal halt

>Q4 will be very adversely affected and the consensus must adjust - The group closes its financial year at end-June and was able to benefit from a COVID-19 free H1 2019-20. We estimate that organic growth in Q4 will likely reflect a contraction of around 25%, penalised notably by its geographic exposure (an estimated 46% of its sales generated in western Europe), and this despite the weight of Germany (an estimated 13%).We have consequently revised down our organ...
Underlying
Dormakaba Holding AG

dormakaba Holding and its subsidiaries are engaged in the security industry. Co. offers its customers solutions that benefits in terms of security, organization and convenience. Co.'s offering ranges from individual components, products and systems to fully integrated solutions from a single source. Co.'s activities are organized along three business segments: Door Systems, which provides a flexible and extensive range of automatic doors, gates and wall systems; Access & Data Systems, which includes all hardware and softwarebased components and systems for access control solutions; and Key & Ident Systems which produces key blanks and key encoding machines for the duplication of keys.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Delphine Brault

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