Report
Delphine Brault

Dormakaba : H2 will have to mark an acceleration in the pace of organic growth

>H1 2018-19: the EBITDA margin reassures but growth disappoints - Organic growth reached just 2.1% in H1 2018-19, vs 2.7% forecast by the consensus and 2.6% by Oddo BHF, mainly impacted by the AMER division, and especially by the lodging segment. In contrast, the EBITDA margin rose by 90bp to 16%, buoyed notably by efforts to streamline activities in the framework of the link-up of dorma and Kaba.We do not expect these results to lead to significant adjustments t...
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

ResearchPool Subscriptions

Get the most out of your insights

Get in touch