Finance
Dormakaba reports 20% decline in half-year profit
Published by Global Banking & Finance Review®
Posted on February 24, 2026
2 min readLast updated: February 24, 2026
Tags:currencies
Quick Summary
Swiss access solutions group Dormakaba posted a 20% half-year profit drop to CHF 77.4m, missing forecasts as FX pressures hit volumes. Margin improved to 15.6%, and the firm kept its 2025/26 outlook, citing stronger H2 growth.
Dormakaba Half-Year Profit Drops 20% as Currency Headwinds Bite
Earnings Highlights and Outlook
Feb 24 (Reuters) - Swiss access solutions provider Dormakaba reported a 20% fall in its half-year profit on Tuesday, missing market expectations, after unfavourable currency exchange rates affected sales volumes.
Net Profit and Estimates
The group, whose entrance systems can be found in venues such as offices, commercial buildings, airports and sports stadiums, said its net profit was 77.4 million Swiss francs ($99.7 million) in the six months through December.
Currency Effects on Results
Analysts polled by the company were expecting a profit of 85.7 million francs on average.
Regional Demand Trends
Dormakaba said good sales growth for access solutions in Europe, and particularly in Germany and Switzerland, compensated for softer demand in the North American hospitality market and a softer residential market in Australia.
EBITDA Margin Performance
The company's core profit (EBITDA) margin rose to 15.6% from 15.2% in the same period a year ago, and was just below analysts' expectations of 15.7%.
Guidance for FY 2025/26
The group, based in Rümlang near Zurich, confirmed its outlook for the 2025/26 financial year, expecting stronger volume growth in the second half of the year after suffering from a "challenging economic environment and persistent geopolitical tensions" in the first six months.
Exchange Rate Reference ($1 = 0.7763 CHF)
($1 = 0.7763 Swiss francs)
(Reporting by Mirko Miorelli and Bernadette Hogg in Gdansk, editing by Milla Nissi-Prussak)
Key Takeaways
- •Net profit was CHF 77.4 million for the six months to December, a 20% year-on-year decline and below the CHF 85.7 million consensus.
- •Adjusted EBITDA margin improved to 15.6% from 15.2% but came in just under 15.7% expected.
- •Unfavourable currency movements weighed on sales volumes and overall profitability.
- •Solid access solutions growth in Europe, especially Germany and Switzerland; softer demand in North American hospitality and Australia’s residential market.
- •Outlook for FY 2025/26 maintained, with management expecting stronger volume growth in H2.
Frequently Asked Questions about Dormakaba reports 20% decline in half-year profit
1What is the main topic?
Dormakaba reported a 20% decline in half-year net profit to CHF 77.4 million, missing market expectations. Despite FX headwinds, the company maintained its FY 2025/26 outlook.
2What were the key figures from the results?
Net profit was CHF 77.4 million for the six months through December. The adjusted EBITDA margin rose to 15.6% from 15.2% a year earlier, narrowly below the 15.7% consensus.
3What drove performance by region and what is the outlook?
Europe, particularly Germany and Switzerland, delivered good growth, while North American hospitality and Australia’s residential sectors were softer. Management reaffirmed the 2025/26 outlook, expecting stronger H2 volumes.
