Dormakaba : In H2 2020-21e growth in activity will stage a comeback yet the EBITDA margin will be down sequentially
>H1 2020-21: a positive surprise from the EBITDA margin - Activity was down 6% on an organic basis in H1 2020-21, vs the consensus forecast of -6.2% and our estimate of -7.2%, mainly affected by the AMER division (fall in activity in commercial construction, particularly hotels) and by the APAC division. The EBITDA margin stood at 14.3% excluding the impact of one-offs (writeback of provisions for litigation) and 14.8% on a reported basis. Adjusted for one-offs, H1 20...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.
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.
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