First half of the 2022/23 financial year
dormakaba reports strong organic growth
dormakaba achieved strong organic sales growth in the first half of the financial year 2022/23, mainly driven by pricing. The adjusted EBITDA margin was lower than in the previous year, however in line with the guidance given in late August 2022. All business segments contributed to the strong organic sales growth, despite a challenging operating environment with continued supply chain constraints, inflationary pressure, and disruptions related to Covid-19 restrictions in China. Profitability declined, as positive growth effects were offset by the product mix, an increase in functional costs – mainly due to strategic investments in profitable growth initiatives with a payback in the future – and slower volume growth due to a reduction in customer inventories.