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dormakaba (DOKA) investor relations material
dormakaba H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Achieved strong organic net sales growth of 4.1% to CHF 2,870.1m, with adjusted EBITDA margin up 80 bps to 15.5% and net profit rising 128.7% to CHF 188.0m; free cash flow was CHF 176.9m and net debt reduced by 21.2% to CHF 358.2m, improving leverage to 0.8x.
Transformation program delivered CHF 148m in cost savings, with four divestments and four bolt-on acquisitions completed to streamline and grow the business.
Proposed a 15% dividend increase to CHF 9.20 per share and a 1:10 share split to enhance liquidity, subject to AGM approval.
On track to meet 2025-2026 commitments, including organic growth and margin targets, with continued focus on U.S. expansion, cost efficiency, and innovation.
ROCE reached 30.6%, achieving midterm targets ahead of plan.
Financial highlights
Net sales reached CHF 2,870.1m, with organic growth of 4.1% year-over-year despite currency headwinds.
Adjusted EBITDA margin improved to 15.5% (+80 bps), with adjusted EBITDA at CHF 445.0m (+6.7%).
Net profit was CHF 188.0m (+128.7% year-over-year), and free cash flow was CHF 176.9m (-10.2%).
Net debt reduced to CHF 358.2m, leverage ratio improved to 0.8x adjusted EBITDA.
ROCE increased to 30.6% (+160 bps), achieved one year ahead of plan.
Outlook and guidance
For FY 2025/26, targets organic net sales growth of 3–5%, adjusted EBITDA margin above 16%, and adjusted operating cash flow margin of 11.5–12.5%.
Guidance assumes balanced contribution from pricing and volume, with surcharges of 2–10% on products to offset tariffs.
Robust trading environment expected, supported by lower interest rates in Europe, increased US investment, and a strong order book.
Ongoing geopolitical and trade uncertainties remain a risk.
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