DORMA ends a successful fiscal 2014/15 with improved results

DORMA increases Group sales by 9.8% to record level of € 1.109 billion. EBITDA improves by 4.4% to € 125.6 million. Consolidated net income up 9.9% compared to previous year at € 78.7 million.

DORMA ends a successful fiscal 2014/15 with improved results

Ennepetal, Germany: 28 August 2015. The DORMA Group, headquartered in Ennepetal, Germany, has improved sales and profits in fiscal 2014/2015 (30.6). According to provisional, unaudited IFRS figures, Group sales rose by 9.8% to € 1,109.2 million (previous year: € 1,010.3 million). The organic growth of this premium supplier of access solutions and services amounted to 4.2%. A further 0.9 percentage points of the increase were due to acquisitions and 4.7 percentage points to currency changes. With EBITDA standing at € 125.6 million (previous year: € 120.2 million) and EBIT at € 97.7 (previous year: € 89.3 million), DORMA again exceeded the results of the previous fiscal year by 4.4% and 9.5% respectively. Acquisitions recorded at € 1.0 million and currency changes at € 8.0 million contributed to the increase in EBITDA. Consolidated net income is up 9.9% at € 78.7 million, compared to the figure of € 71.6 million for the previous year. A dividend of € 55 million is proposed for fiscal 2014/2015.

"DORMA has performed very well in fiscal 2014/15, particularly in growth markets. We generated strong organic growth and further improved our profitability", said Thomas P. Wagner, CEO of the DORMA Group. "With this result behind us we are well prepared for the upcoming merger with Kaba. I am convinced that under the same roof the two companies will unlock attractive growth potentials."

DORMA's capital expenditure on intangible assets and property, plant and equipment stood at € 46.8 million (previous year: € 19.2 million). This included the purchase of real estate for the European Logistics Center in Wuppertal. Net cash flow from operating activities rose to € 79.1 million (previous year: € 67.8 million). On the reporting date (30 June 2015), DORMA was again on balance debt-free and had net funds totaling € 112.0 million (previous year: € 135.9 million). At the same time provisions for pensions stood at € 198.2 million with matching cover provided by a partial amount of € 16.6 million.

The number of employees (including trainees) in the Group rose during fiscal 2014/15 from 7,191 to 7,410.

Numerous product innovations

DORMA once again demonstrated its innovative capacities in the past fiscal year with the Group launching more product innovations than ever before. At the international BAU fair in January 2015, DORMA presented six new products. In addition, there were numerous local innovations, for example the ITS 900 and ITS 915 door closers for the entry segment in Asia. For these new products, DORMA has received 12 design awards since the beginning of the year. And as a company, DORMA was recognized in June as one of Germany’s most innovative SMEs.

Publication of the audited IFRS consolidated financial statements is planned for the beginning of October 2015.

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