DORMA: Sharp rise in sales outpaced by earnings growth

Acquisition of new sales and distribution company in Turkey

Düsseldorf/Ennepetal, Germany. The DORMA Group concluded fiscal 2006/07 (June 30) with a substantial increase in sales of 9.3 percent to €838 million (previous year €767 million). And there was also good news on profitability with earnings before taxes (EBT) growing by 25.4% to €62.3 million (previous year: €49.6 million). “This means that, for the second year in succession, we have posted a growth in Group profits more than double that in consolidated revenues,” declared DORMA CEO Dr. Michael Schädlich speaking at a press conference convened to present DORMA’s year-end results. The EBT of €62.3 million corresponds to a return on sales of 7.4%. Earnings before interest and taxes (EBIT) amounted to €64.3 million, yielding a return on sales of 7.7%. Both metrics were adversely affected by exceptional charges amounting to €10.1 million and a foreign exchange impact of €0.8 million. At the press conference, DORMA also announced its acquisition of the Turkish distributor Milenyum, a company able to offer a dense sales and distribution network of trade specialists coupled with excellent expertise in relation to the important project business segment that has developed in Turkey.

Encouraging growth in Central Europe - foreign sales steadily increasing
The economic environment led to encouraging growth of 8. more…

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