Dormakaba : After a H1 close to expectations, the group remains cautious on H2 and is pushing back its medium-term targets
>H1 2022-23: organic growth sees a surprise increase, but not the margin - Activity saw an 8% organic increase in H1 2022-2023, thanks mainly to a sharp increase in price hikes (6.5% over the period). The adjusted EBITDA margin stands at 13%, down 130bp. Adjusted EBITDA stands at CHF 184.6m. FCF (ODDO BHF calculation) was positive at CHF 80m vs CHF 26m at H1 2021-2022. See our first take from yesterday for further details.Conference call feedback: de...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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