Dormakaba Holding Ag · SIX:DOKA

Dormakaba — HY1 2015/2016 Earnings Presentation

44 slides from Dormakaba's earnings presentation, Mar 7, 2016

  1. Slide 1: dorma+kaba – A Successful Start to a New Era

    dorma+kaba – A SUCCESSFUL START TO A NEW ERA HALF-YEAR RESULTS 2015/2016 Riet Cadonau, CEO dorma+kaba Group Bernd Brinker, CFO dorma+kaba Group Zurich/Switzerland, 7 March 2016

  2. Slide 2: Agenda

    Agenda HY1 2015/2016 at a glance Riet Cadonau An industry leader emerges Riet Cadonau Financial results HY 2015/2016 Bernd Brinker Summary and outlook Bernd Brinker Presentation HY1 2015/2016 © dorma+kaba Group 7 March 2016 2

  3. Slide 3: HY1 2015/2016 at a glance

    HY1 2015/2016 at a glance dorma+kaba Group HY1 2015/2016 (pro forma*) at a glance  Sales increased by 2.6% to CHF 1,135.5 million (previous year CHF 1,106.6 million)  EBITDA margin improved to 14.6% (previous year 13.7%)  Strong balance sheet – solid equity ratio of 41.2%  First cost savings rea

  4. Slide 4: New segment organization

    HY1 2015/2016 at a glance New segment organization Access Access Access Access Key Movable Solutions Solutions Solutions Solutions Systems Walls DACH EMEA AMER APAC Master Key Systems (MKS) Door Hardware (DHW) Interior Glass Systems (IGS) Entrance Systems (ENS) Electronic Access & Data (EAD) Service

  5. Slide 5: Access Solutions AMER: Very good results

    HY1 2015/2016 at a glance Access Solutions AMER: Very good results  Very good business performance in North  Acquisition of Keyscan made a positive America contribution to the overall performance of  Excellent sales growth especially in the segment Lodging Systems  Recession-driven weakness in d

  6. Slide 6: Access Solutions APAC: Sales and profitability potential

    HY1 2015/2016 at a glance Access Solutions APAC: Sales and profitability potential  Market remained challenging, especially  Dorsët Kaba made a positive contribution in Asia, and particularly in China to the segment’s performance  Good performance in Australia, South- east Asian region and India

  7. Slide 7: Access Solutions DACH: Solid track record

    HY1 2015/2016 at a glance Access Solutions DACH: Solid track record  Overall good economic environment in  Includes production facilities and com- Germany petence centers based in Singapore, China and Malaysia (product cluster  Austrian economy posted only slight “Door Hardware”) growth  In Swit

  8. Slide 8: Access Solutions EMEA: Results in line with expectations

    HY1 2015/2016 at a glance Access Solutions EMEA: Results in line with expectations  The market performed well in Western  Includes production facilities and Europe, especially in the United Kingdom competence centers based in Wetzikon,  In the Middle East and Eastern Europe Rümlang, Herzogenburg,

  9. Slide 9: Segments Access Solutions (total)

    HY1 2015/2016 at a glance Segments Access Solutions (total) Sales / profitability (in CHF million) Segment contribution to third-party sales HY HY 0.6% 2015/16 2015/16 reported1) pro forma2) Segments Access Total segment sales 3) Solutions (total) 811.5 983.1 Operating profit before 146.6 171.0 depr

  10. Slide 10: Key Systems: Volume business with pleasing profitability

    HY1 2015/2016 at a glance Key Systems: Volume business with pleasing profitability  Performance in line with expectations  Product groups: Keys, Key Cutting Machines and Automotive Solutions  Acquisition of Advanced Diagnostics made a positive contribution to the segment’s performance Sales / pro

  11. Slide 11: Movable Walls: Debut with good results

    HY1 2015/2016 at a glance Movable Walls: Debut with good results  Global activities in the space-dividing  Product groups: Movable Partitions and systems sector are being reported as a Horizontal Sliding Walls single unit under joint management for the first time Sales / profitability (in CHF mill

  12. Slide 12: Mobile Access Solutions

    HY1 2015/2016 at a glance Mobile Access Solutions Presentation HY1 2015/2016 © dorma+kaba Group 7 March 2016 12

  13. Slide 13: exivo Access Solution

    HY1 2015/2016 at a glance exivo Access Solution Presentation HY1 2015/2016 © dorma+kaba Group 7 March 2016 13

  14. Slide 14: Product development and design

    HY1 2015/2016 at a glance Product development and design Major design price for MUTO Product development “Best of Best” award for MUNDUS and design The Architects’ Darling Award Kaba wins the GIT Security Award 2016 Kaba 360° City app wins the iF Design Award 2015 Presentation HY1 2015/2016 © dorma+

  15. Slide 15: Agenda

    Agenda HY1 2015/2016 at a glance Riet Cadonau An industry leader emerges Riet Cadonau Financial results HY 2015/2016 Bernd Brinker Summary and outlook Bernd Brinker Presentation HY1 2015/2016 © dorma+kaba Group 7 March 2016 15

  16. Slide 16: Timeline of our journey: Key milestones

    An industry leader emerges Timeline of our journey: Key milestones Announce Close Integrate and perform 2015 2016 May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul “Closing” “Org Day” “Day 1” (1 September 2015) (4 January 2016) (1 July 2016) We start operating in Legally, we are Major orga

  17. Slide 17: What we achieved so far

    An industry leader emerges What we achieved so far Merger announced on 30 April 2015 IMO (Integration Management Office) installed Green light of Kaba shareholders received Segment Management teams appointed for the merger on 22 May 2015 Opening Conference top management took place Capital increase:

  18. Slide 18: Agenda

    Agenda HY1 2015/2016 at a glance Riet Cadonau An industry leader emerges Riet Cadonau Financial results HY 2015/2016 Bernd Brinker Summary and outlook Bernd Brinker Presentation HY1 2015/2016 © dorma+kaba Group 7 March 2016 18

  19. Slide 19: Key figures HY1 2015/2016

    Financial results HY 2015/2016 Key figures HY1 2015/2016 1 2 3 4 4+6 6+6 6+6 Change 2015/2016 2015/2016 2014/2015 2 vs. 3 in CHF million reported1) pro forma2) pro forma2) Net sales growth 947.6 1135.5 1106.6 +2.6% Organic growth* +1.8% Acquisition growth +0.8% Currency effect on sales -8.1% Currenc

  20. Slide 20: Consolidated income statement

    Financial results HY 2015/2016 Consolidated income statement 1 2 3 4 4+6 6+6 6+6 Change 2015/2016 reported1) 2015/2016 pro forma2) 2014/2015 pro forma2) 2 vs. 3 in CHF million % % % % Net sales 947.6 100.0 1135.5 100.0 1106.6 100.0 +2.6 Cost of goods sold -540.1 -57.0 -653.3 -57.5 -643.4 -58.1 +1.5

  21. Slide 21: Sales development (basis 6+6 pro forma)

    Financial results HY 2015/2016 Sales development (basis 6+6 pro forma) Third-party sales by segment Sales development (in CHF million) 0.6% 1’204.0 -97.4 8.6% 21.0% AS AMER 9.4 1’135.5 19.5 4.5% AS APAC 1’106.6 AS DACH AS EMEA 27.1% 15.6% KS MW other 22.6% FX development of CHF (average rate) HY HY

  22. Slide 22: EBITDA development (basis 6+6 pro forma)

    Financial results HY 2015/2016 EBITDA development (basis 6+6 pro forma) EBITDA contribution by segment EBITDA margin development in % 8.3% 4+6 6+6 12 months 26.8% 2015/16 2015/16 2014/15 AS AMER reported pro forma pro forma1) 3.4% AS APAC AS AMER 22.8 20.3 19.1 14.7% AS DACH AS APAC 8.4 9.5 8.7 AS E

  23. Slide 23: Consolidated balance sheet: Assets

    Financial results HY 2015/2016 Consolidated balance sheet: Assets Reporting half-year Financial year in CHF million ended 31.12.20151) in % ended 30.6.20152) in % Current assets Cash and cash equivalents 178.5 11.8 142.5 19.4 Trade receivables 376.3 24.8 185.4 25.2 Inventories 375.5 24.7 175.8 23.9

  24. Slide 24: Consolidated balance sheet: Liabilities and equity

    Financial results HY 2015/2016 Consolidated balance sheet: Liabilities and equity Reporting half-year Financial year in CHF million ended 31.12.20151) in % ended 30.6.20152) in % Current liabilities Current borrowings 145.5 9.6 19.7 2.7 Trade payables 107.8 7.1 58.2 7.9 Current income tax liabilitie

  25. Slide 25: Consolidated cash flow statement

    Financial results HY 2015/2016 Consolidated cash flow statement 4+6 0+6 Reporting half-year Reporting half-year in CHF million ended 31.12.20151) ended 31.12.20142) Cash generated from operations 140.7 56.8 Net cash from operating activities 103.9 33.0 Net cash used in investing activities (excl acq

  26. Slide 26: Net debt

    Financial results HY 2015/2016 Net debt 4+6 0+6 Reporting half-year Reporting half-year in CHF million ended 31.12.20151) ended 31.12.20142) Cash and cash equivalents 178.5 55.2 Debt 147.2 148.2 Net Debt -31.3 93.0 1) Former Dorma Group consolidated as of 1 September 2015 – former Kaba Group 6 month

  27. Slide 27: Currency exposure

    Financial results HY 2015/2016 Currency exposure Sales per currency regions1)  As every globally active group, dorma+kaba 32% is exposed to currency risks 31%  The currency profile of dorma+kaba shows a broad balance between sales and costs per region (= natural hedge) 8% 29% Cost per currency reg

  28. Slide 28: Agenda

    Agenda HY1 2015/2016 at a glance Riet Cadonau An industry leader emerges Riet Cadonau Financial results HY 2015/2016 Bernd Brinker Summary and outlook Bernd Brinker Presentation HY1 2015/2016 © dorma+kaba Group 7 March 2016 28

  29. Slide 29: Guidance for financial year 2015/2016

    Summary and outlook Guidance for financial year 2015/2016 Statement made on Guidance for 9 September 2015 FY 2015/2016 (7 March 2016) Market development  Americas: good  Americas: good  Europe: positive by trend  Europe: moderate  Asia and other emerging  Asia and other emerging markets: flat,

  30. Slide 30: A successful start to a new era

    Summary and outlook A successful start to a new era Summary first half-year 2015/2016 Outlook  Sales increased The successful start  Profitability improved of dorma+kaba Group  Strong balance sheet, solid further adds to the equity ratio strong foundation to  Integration on track, first build a

  31. Slide 31: Questions & Answers

    QUESTIONS & ANSWERS Presentation HY1 2015/2016 © dorma+kaba Group 7 March 2016 31

  32. Slide 32: IR Agenda 2016

    IR Agenda 2016  Capital Market Day 5 April 2016 Ennepetal, Germany  Vontobel Investors Conference 7 June 2016 Interlaken, Switzerland  Publication and presentation of results 2015/2016 7 September 2016 Zurich, Switzerland  UBS Best of Switzerland Conference 15 September 2016 Ermatingen, Switzerl

  33. Slide 33: IR contact

    IR contact Siegfried Schwirzer Head of Investor Relations dorma+kaba Group T +41 44 818 90 28 E [email protected] dorma+kaba Holding AG Hofwisenstrasse 24 8153 Rümlang Switzerland www.dormakaba.com SIX Swiss Exchange: DOKA Presentation HY1 2015/2016 © dorma+kaba Group 7 March 2016 33

  34. Slide 34: Thank you for your attention!

    THANK YOU FOR YOUR ATTENTION! Presentation HY1 2015/2016 © dorma+kaba Group 7 March 2016 34

  35. Slide 35: Disclaimer

    Disclaimer This communication contains certain forward-looking statements, e.g. If one or more of these risks, uncertainties or other factors should statements using the words "believes", "assumes", "expects", or actually occur, or if one of the underlying assumptions or expectations formulations of

  36. Slide 36: Financial data – appendix

    Financial results HY 2015/2016 Financial data – appendix  Consolidated income statement (pro forma)  Consolidated income statement (Swiss GAAP FER)  Segment reporting (pro forma)  Segment reporting (Swiss GAAP FER)  Consolidated balance sheet  Consolidated cash flow statement Presentation HY1

  37. Slide 37: Consolidated income statement (pro forma)

    Financial results HY 2015/2016 Consolidated income statement (pro forma) Reporting half-year Financial year Reporting half-year in CHF m illion ended 31.12.2015 1) in % ended 30.06.2015 2) in % ended 31.12.2014 3) in % Net sales 1,135.5 100.0 2,249.6 100.0 1,106.6 100.0 Cost of goods sold -653.3 -57

  38. Slide 38: Consolidated income statement (Swiss GAAP FER)

    Financial results HY 2015/2016 Consolidated income statement (Swiss GAAP FER) in CHF m illion Reporting half-year Financial year Reporting half-year except per share am ounts ended 31.12.2015 1) in % ended 30.06.2015 2) in % ended 31.12.2014 2) in % Net sales 947.6 100.0 1,085.2 100.0 551.4 100.0 Co

  39. Slide 39: Segment reporting (pro forma)

    Financial results HY 2015/2016 Segment reporting (pro forma) Access Solutions Access Solutions Access Solutions Access Solutions Access Solutions AMER APAC DACH EMEA Elim inations TOTAL Reporting Reporting Reporting Reporting Reporting Reporting half-year Financial year half-year Financial year half

  40. Slide 40: Segment reporting (Swiss GAAP FER)

    Financial results HY 2015/2016 Segment reporting (Swiss GAAP FER) Access Solutions Access Solutions Access Solutions Access Solutions Access Solutions AMER APAC DACH EMEA Elim inations TOTAL Reporting Reporting Reporting Reporting Reporting Reporting Reporting Reporting Reporting Reporting Reporting

  41. Slide 41: Consolidated balance sheet

    Financial results HY 2015/2016 Consolidated balance sheet Reporting Reporting half-year Financial year half-year in CHF m illion ended 31.12.2015 1) in % ended 30.06.2015 2) in % ended 31.12.2014 2) in % Current assets Cash and cash equivalents 178.5 11.8 142.5 19.4 55.2 8.1 Trade receivables 376.3

  42. Slide 42: Consolidated cash flow statement

    Financial results HY 2015/2016 Consolidated cash flow statement Reporting half-year Financial year Reporting half-year in CHF m illion ended 31.12.2015 1) ended 30.06.2015 2) ended 31.12.2014 2) Net profit 57.4 98.9 50.2 Depreciation and amortization 23.4 25.2 12.6 Income tax expenses 21.3 38.8 18.7

  43. Slide 43: Dorma product portfolio

    The complementary portfolio Dorma product portfolio Presentation HY1 2015/2016 © dorma+kaba Group 7 March 2016 43

  44. Slide 44: Kaba product portfolio

    The complementary portfolio Kaba product portfolio Presentation HY1 2015/2016 © dorma+kaba Group 7 March 2016 44

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