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Tag: Dormakaba

  • Access solutions in transition: focus on growth

    Access solutions in transition: focus on growth

    Dormakaba is shifting its strategy implementation from “Shape to Growth”. “Our strategic transformation is on track and is delivering lasting and tangible improvements in results,” explained CEO Till Reuter in a statement on the occasion of the Capital Markets Day 2024 of the globally active locking technology company from Rümlang. Now dormakaba wants to gradually focus on growth. Specifically, the company wants to “become the leading provider of access solutions by connecting the physical and digital worlds”, said Reuter.

    Growth is to be generated by increasing performance and innovation and reducing complexity in the portfolio and supply chain. For example, dormakaba plans to reduce its software platforms by around half. The hardware portfolio is to be made modular, starting with the door closers. The supply chains will be trimmed for resilience, simplicity and cost efficiency. In doing so, dormakaba is focusing on best-cost countries and the respective local production networks.

    The “consistent implementation” of the ongoing transformation program remains “the central key to achieving our medium-term goals,” explains Reuter. In order to increase performance, the company is also implementing new measures in the areas of productivity, shared business services, automation and digitalization. These are expected to generate additional savings of CHF 40 million over the next few years. For financial year 2025/26, dormakaba expects an adjusted EBITDA margin of between 16 and 18 percent.

  • Dormakaba receives four winners at the Iconic Awards 2024

    Dormakaba receives four winners at the Iconic Awards 2024

    Dormakaba returns home from the Iconic Awards 2024: Innovative Architecture ceremony in Munich with four awards. The locking technology company from Rümlang impressed in three categories with a total of four solutions for access control, access and time recording, dormakaba explained in a press release. Specifically, the new terminal generation for time recording and the new Axessor APEXX IP digital high-security safe lock series were each awarded a Winner in the Product-Building Technologies category, the MotionIQ automatic door system in the Energy Solutions category and the skyra cloud-based access solution in the Product Special category.

    “These awards strengthen our reputation as a design-oriented company and are a sign of recognition for creative product development and innovation,” said Torsten Stolte, Managing Director of dormakaba Deutschland GmbH, in the press release. “They also motivate our employees to continue developing products of the highest quality.” The awards were accepted in Munich by Alfred Aschmann, Deputy Vice President Product Management, and Bernhard Heitz, Strategic Product Design at dormakaba.

  • Dormakaba launches new terminals for time and attendance recording

    Dormakaba launches new terminals for time and attendance recording

    Dormakaba is presenting two new time recording terminals. Terminal 96 00 is available immediately, with Terminal 98 00 to follow shortly, the internationally active locking technology company from Rümlang announced in a press release. Both terminals “support individual working time models, meet the specific needs of employers and are designed to adapt to different requirements and display designs”, it says.

    The 96 00 terminal has a 5-inch screen, the surface of which can be freely designed. In addition to time recording functions, the device also offers options for identification and access control. The storage volume comprises 50,000 master records and 200,000 transactions.

    During development, dormakaba also paid attention to sustainability. In terms of long-term use, emphasis was placed on reparability. To save energy, the 96 00 is equipped with a proximity sensor.

    The 98 00 terminal will also be launched on the market shortly. It is equipped with a 10.1-inch screen and extensive functions, explains dormakaba. The 98 00 terminal thus offers “even more scope for individuality”.

  • Transformation programme to strengthen the Dormakaba company

    Transformation programme to strengthen the Dormakaba company

    As part of dormakaba’s Shape4Growth (S4G) strategy, the transformation programme represents an important step towards achieving better profitability and sustainable volume growth. It is designed to ensure that the medium-term financial targets are achieved: annual organic revenue growth of 3% to 5% for each future financial year, an adjusted EBITDA margin of 16% to 18% achieved in financial year 2025/26 and a return on capital employed (ROCE) of over 30% from financial year 2025/26 onwards. The transformation programme is expected to result in estimated combined cost savings on a run-rate basis of approximately CHF 170 million per year by the end of 2025/26. One-off costs of approximately CHF 225 million and one-off additional capital expenditure (CAPEX) of approximately CHF 100 million (IT, Operations) will be incurred from 2023/24. The main impact on items affecting comparability (IAC) will occur in the same year. For 2022/23, dormakaba expects IAC to increase to approximately CHF 60 million, of which CHF 30 million is related to transformation. The implementation may impact up to 1800 positions, with an expected net reduction of full-time equivalents of around 800 positions.

    The programme aims to increase network and production efficiencies and expand sourcing improvement measures. It also includes the establishment of shared service centres for finance and human resources. With the help of the new organisational structure, all research and development (R&D) activities will be bundled and time to market will be shortened. This will be supported by nearshoring and the consolidation of development resources, including newly established dedicated R&D centres. To support all initiatives, dormakaba will reduce IT system complexity and costs while increasing process efficiency and standardisation across the business.

    All organisational changes will come into effect gradually from 2023/24, once negotiations with the respective employee representatives have been completed in a socially acceptable manner.

    Jim-Heng Lee, CEO dormakaba, says: “We are intensifying our efforts to become a leading supplier in the industry that achieves above-market growth. These efforts will free up capacity for further growth investments and strengthen our innovation capabilities. We are convinced that this is the right approach and will continue on our path of successive improvements. Ultimately, we need to get better before we get bigger.” Beyond the programme, dormakaba remains committed to implementing strategies that create scope for further investment in sustainable growth initiatives and innovation capabilities. As announced on 30 March 2023, dormakaba has been operating under a simplified organisational structure since 1 July 2023. The new structure will increase the company’s focus on its core markets where it has a strong competitive position.

  • Dormakaba becomes new partner of Aareon Connect

    Dormakaba becomes new partner of Aareon Connect

    Rümlang-based security technology company dormakaba is partnering with Aareon Connect, according to a media release. The partner programme was launched by Mainz-based Aareon. It allows external digital solutions and services to be seamlessly connected to Aareon’s ERP systems via a standardised interface and using a uniform data model. ERP stands for Enterprise Resource Planning and describes business management systems.

    Access specialist dormakaba joins Aareon Connect with its new cloud access management system resivo. “Aareon Connect is more or less an online marketplace,” Alf Tomalla, Director Ecosystem Success at Aareon Group, is quoted as saying. “We want to transfer the way we all obtain software easily and quickly in our private lives via app stores to the property sector.” The goal is to unite the best software solutions in the property industry in a single ecosystem, Tomalla said.

    “The benefits of electronic locking systems, coupled with secure yet user-friendly apps for tenants and managers, offer significant added value for our customers, which we maximise by integrating dormakaba into Aareon’s ERP systems,” Bernd Rütgers, Head of System Sales at dormakaba Deutschland GmbH, is quoted as saying.

    The cloud solution resivo from dormakaba enables simple access management of buildings, according to the statement. With resivo, all access rights can be flexibly organised online. They are managed and assigned from the office.

  • Prices drive revenue growth at dormakaba

    Prices drive revenue growth at dormakaba

    According to a statement from dormakaba, the globally active locking technology group from Glattal generated sales totalling CHF 1.42 billion in the first half of the 2022/23 financial year, which ended on 31 December 2022. This corresponds to year-on-year growth of 5.2 percent. Organic growth is put at 8.0 per cent in the press release. It was mainly generated by price increases, explains dormakaba.

    The adjusted operating result at EBITDA level was 4.6 percent below the previous year’s value at 184.6 million Swiss francs, and the corresponding margin fell from 14.3 to 13.0 percent. Similar losses were recorded in net profit. At 84.9 million francs, it was 15.7 million francs lower than in the same semester last year. The company attributes the decline in profitability to higher operating costs, a change in product mix and low volume growth in sales.

    “Dormakaba has consistently continued on its path of successive improvement,” CEO Jim-Heng Lee is quoted as saying in the statement. “Although this is a good result, there is still much to be done.” Here, dormakaba is putting the focus on improving profitability. “In the second half of the 2022/23 financial year, we will focus on measures to reduce the cost base across the company, increase efficiency and improve our operational performance,” Lee explains.

  • Dormakaba exhibits doors in the Next Facade and Design Studio

    Dormakaba exhibits doors in the Next Facade and Design Studio

    With a team of architect and property consultants as well as revolving door specialists, the locking technology group dormakaba is participating in the Next Facade and Design Studio from Wicona and participating partner companies. According to a press release , dormakaba wants to present its access solutions for facade planners in the 800 square meter studio in Frankfurt am Main from September.

    The studio of Wicona, a German supplier of windows, doors and facades made of aluminum, as well as eleven other companies, has been offering trade visitors from the facade industry a platform for exchange and events for five years. “With this unique Next Facade and Design Studio platform, we are reaching a competent, very interested specialist audience,” Frank Ulbrich, Key Account Manager at dormakaba, is quoted as saying in the press release.

    Dormakaba’s on-site consultants are to use the exhibition for personal discussions with customers, for architect and property advice, workshops, training courses, sales meetings and events for target groups in facade construction. The company is building its new generation of automatic sliding doors in the main entrance area for this purpose. A revolving door designed for the sustainable facade design will also be accessible.

  • Dormakaba remains on course for growth

    Dormakaba remains on course for growth

    In the 2021/22 financial year, which ended on June 30, Dormakaba generated net sales of almost 2.76 billion francs, according to the globally active locking technology company from the Glattal in a press release . According to dormakaba’s preliminary and not yet audited key figures, this corresponds to growth of 10.3 percent. Organic growth is estimated at 7.7 percent in the release. The company explains that dormakaba has exceeded its self-imposed target range of 3 to 5 percent.

    The adjusted result at the EBITDA level rose from 362 to 372 million francs year-on-year. At 13.5 percent, the adjusted EBITDA margin was below the target of at least 14.2 percent, dormakaba reports. The company gives the background to inflation accelerated by the war in Ukraine and disruptions in the supply chains.

    According to dormakaba, the latter primarily led to impairments in business with high-margin electronic products. Overall, however, the company can look back on a financial year with good demand. In its own estimation, dormakaba can currently also rely on a good order intake and backlog.

    “While we exceeded our growth targets, we were unable to meet our EBITDA margin guidance in this challenging inflationary environment,” dormakaba CEO Jim-Heng Lee is quoted as saying in the release. “We have therefore raised prices to compensate for further inflationary effects and will continue to do so.” dormakaba will present its detailed annual report on 31 August.

  • Dormakaba is growing at double-digit rates

    Dormakaba is growing at double-digit rates

    According to a statement from dormakaba , the globally active locking technology group from the Glattal generated sales totaling CHF 1.35 billion in the first half of the 2021/22 financial year, which ended on December 31, 2021. In a year-on-year comparison, this corresponds to growth of 10.0 percent. The operating result at the EBITDA level increased by 7.9 percent to CHF 193.5 million in the same period. A net profit of CHF 100.6 million was reported compared to CHF 99.9 million in the same period of the previous year.

    At 14.3 percent, the EBITDA margin was 0.3 percentage points lower than in the first half of 2020/21. In the statement, dormakaba attributes this “to the product mix, higher raw material and freight costs and increased labor costs”. In the Germany, Austria and Switzerland region, however, the EBITDA margin increased from 17.1 to 18.2 percent year-on-year.

    "Due to healthy demand, we were able to achieve strong organic growth," Jim-Heng Lee is quoted as saying in the release. According to dormakaba's CEO, the company was able to record "promising order intake and a good order backlog" in most markets and all segments. The head of the company is confident "that we will continue on this path of growth with the implementation of our new strategy".

    dormakaba reorganized its corporate structure with effect from the beginning of the year. In the future there will be “three customer-centric regions and sales organizations” with Americas, Asia Pacific and Europe & Africa, according to the press release. To this end, the DACH and EMEA business areas will be combined in the Europe & Africa region and the Middle East region will be integrated into Asia Pacific. All regions are to be supported “by new global functions such as Marketing & Products or Operations”.

  • Dormakaba takes over Solus Security Systems in India

    Dormakaba takes over Solus Security Systems in India

    Dormakaba International Holding AG has taken over Solus Security Systems Pvt Ltd. closed. The company for access and security solutions expects the transaction to make a contribution to earnings per share at group level and to the EBITDA margin from day one, according to a media release . Solus achieved sales in the single-digit million range in the 2020/2021 financial year as of the end of March 2021. No further financial information was given on the transaction.

    Solus is the market leader in India for integrated solutions in the field of electronic access control, time and attendance recording, access management for visitors, access control and security as well as the associated services. The company has a total of 200 employees in Bangalore and other locations, including 130 service technicians. They serve system integrators and medium-sized end customers in various industries throughout India.

    "We are expanding our electronic access & data business in India with a broad product portfolio, additional sales channels and a large customer base – Solus offers us excellent growth opportunities," said Jim-Heng Lee, COO AS APAC at dormakaba, in the press release quoted.

    For Solus, too, there are “synergies from the expanded product portfolio and the greater market presence, which increases the additional benefit for our customers in terms of better solutions and services,” said Narasimha Swamy, owner and managing director of Solus, quoted in the media release.