Dormakaba : The Shape4Growth plan is starting to bear fruit (at last)
>H1 2023-24: upside surprise on the margin, not on sales - Sales grew 3.9% on an organic basis in H1 2023-24, driven mainly by the price effect (3.1% impact). The adjusted EBITDA margin came to 14.6%, up 160bp. Adjusted EBITDA came to CHF 200.7m, 2% ahead of consensus forecasts. Note that once restructuring costs are factored in, EBIT amounted to CHF 88m, down -13.6%, implying a margin of 6.4%, down -80bp. FCF (ODDO BHF calculation) was positive to the tune of CH...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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