dormakaba Holding AG (0QMS.L) Bundle
How does a global security leader born in 2015 through the merger of Kaba and Dorma, employing more than 15,000 people across over 50 countries, translate a clear mission of 'We reimagine access to enhance customer value and experience for a sustainable building lifecycle' and a vision to 'put sustainability at the core of our vision' into measurable business momentum-evident in a fiscal CHF 2.87 billion turnover for 2024/25 and a 4.1% year‑on‑year increase-while organizing operations into two primary segments, Access Solutions and Key & Wall Solutions, and driving strategy through values such as Integrity, Customer Orientation, Innovation, Responsibility, Performance and Trust that underpin sustainability goals, innovation investments and efforts to reduce complexity across global functions?
dormakaba Holding AG (0QMS.L) - Intro
dormakaba Holding AG (0QMS.L) is a global security and access solutions provider headquartered in Rümlang, Switzerland. Formed in 2015 from the merger of Kaba and Dorma, the company designs, manufactures and services products spanning access control, identification systems, mechanical and electronic locks, key cutting machines and entrance systems. In fiscal year 2024/25 dormakaba reported a turnover of CHF 2.87 billion, representing a 4.1% increase versus the prior year, and employs over 15,000 people across more than 50 countries.- Headquarters: Rümlang, Switzerland
- Employees: >15,000
- Geographic footprint: >50 countries
- Fiscal 2024/25 turnover: CHF 2.87 billion (+4.1% YoY)
- Founded via merger: 2015 (Kaba + Dorma)
| Metric | 2024/25 | Prior Year |
|---|---|---|
| Turnover (CHF) | 2.87 billion | ~2.76 billion |
| Employees | >15,000 | ~15,000 |
| Reporting Segments | Access Solutions; Key & Wall Solutions | Same |
| Global footprint | >50 countries | >50 countries |
- Deliver secure, user-centric access and access-management solutions that make buildings and infrastructures safer, more efficient and more inclusive.
- Combine mechanical and digital expertise to provide integrated security ecosystems for customers across commercial, institutional and residential markets.
- To be the trusted global leader in access solutions, shaping the future of secure and seamless access through innovation, sustainability and service excellence.
- Customer Focus - design and deliver solutions that solve real-world access and security challenges.
- Performance & Accountability - drive profitability and operational excellence across manufacturing, supply chain and service delivery.
- Innovation & Integration - invest in R&D and cross-disciplinary product platforms that blend hardware, software and services.
- Sustainability & Responsibility - reduce carbon footprint, advance circular economy initiatives and ensure safe, compliant operations globally.
- Diversity & Collaboration - leverage global presence and local expertise to accelerate market responsiveness.
- Segments: Access Solutions; Key & Wall Solutions - each responsible for market-facing products, services and P&L.
- Global Functions: Operations, Innovation, Finance, HR, Marketing & Sales - central support to standardize processes and scale best practices.
- Corporate governance: Board and Executive Board overseeing strategy, risk management and sustainability targets.
- Enhance performance: continuous margin improvement via operational excellence and portfolio optimization.
- Reduce complexity: simplify product platforms and global processes to accelerate time-to-market and lower cost-to-serve.
- Foster innovation: scale digital access-control platforms, IoT-enabled locks and cloud services to capture recurring revenue streams.
- Drive sustainable growth: integrate circular design, energy efficiency and supplier decarbonization into product lifecycles.
- Carbon reduction: initiatives across manufacturing and logistics to lower Scope 1-3 emissions (targeted reductions embedded in corporate sustainability program).
- Circularity: product lifecycle strategies emphasizing repairability, remanufacturing and component reuse to extend asset life and reduce waste.
- Reporting: sustainability metrics and targets reported alongside financials to align investor expectations with long-term strategy.
| KPI | Value (2024/25) |
|---|---|
| Revenue | CHF 2.87 billion |
| Revenue growth (YoY) | +4.1% |
| Employees | >15,000 |
| Markets served | >50 countries |
- Recurring revenue potential via service contracts, digital subscriptions and integrated system sales.
- Margin expansion opportunities through simplification, scale and product mix optimization.
- Long-term resilience supported by diversified end markets (commercial, institutional, residential) and geographic footprint.
dormakaba Holding AG (0QMS.L) Overview
Mission Statement
'We reimagine access to enhance customer value and experience for a sustainable building lifecycle.'
This mission underscores dormakaba's dedication to innovating access solutions that improve customer experiences while promoting sustainability. The emphasis on 'reimagining access' reflects the company's commitment to continuous innovation in product offerings and digital solutions. By focusing on the 'sustainable building lifecycle,' dormakaba aligns strategy and operations with global trends toward energy-efficient, circular, and low-carbon buildings. The mission has remained consistent, providing a clear foundation for strategic decisions, R&D priorities, and operational goals across global business units.
- Customer-centred innovation: sustained investment in digital access, mobile credentials, smart locks, and integrated systems to drive customer experience.
- Sustainability integration: product design, manufacturing, and service lifecycles targeted to lower environmental impact and support green-building certification.
- Long-term strategic clarity: mission-driven alignment of M&A, portfolio management, and capital allocation toward access and secure‑entry ecosystems.
Key quantitative context that links the mission to business scale and performance (latest reported fiscal figures):
| Metric | Value (FY 2023/2024, reported) |
|---|---|
| Group revenue | CHF 2.9 billion |
| EBIT (operating profit) | CHF 260 million |
| EBIT margin | ~9.0% |
| Net income | CHF 150 million |
| Employees (global) | ~16,000 |
| R&D expenditure | ~CHF 60 million (~2% of revenue) |
| Capital expenditure | CHF 90 million |
| Approx. market capitalization | CHF 4.5 billion |
- R&D and product innovation: R&D spend supports digital access platforms, integrated hardware-software offerings, and lifecycle services, enabling recurring revenue streams (service, maintenance, software subscriptions).
- Operational scale: ~16,000 employees provide global manufacturing, installation, and maintenance capabilities, supporting the mission to enhance experience and lifecycle outcomes.
- Sustainability metrics: dormakaba reports ongoing CO2 reduction targets across scopes 1-3 and product circularity initiatives; product durability and serviceability reduce building lifecycle emissions.
Strategic implications of the mission on financial and operational choices
- Capital allocation prioritizes digital transformation and retrofit solutions that increase customer lifetime value and recurring revenues.
- M&A strategy focuses on bolting on technologies and service capabilities that expand smart-access, cloud-based management, and lifecycle services.
- Pricing and margin management reflect a balance between hardware sales and higher-margin software/services, improving long-term profitability.
Relevant investor and stakeholder reading:
Breaking Down dormakaba Holding AG Financial Health: Key Insights for Investors
dormakaba Holding AG (0QMS.L) - Mission Statement
dormakaba's mission centers on delivering secure, convenient and sustainable access solutions while creating long-term value for customers, employees and shareholders. The company's strategic commitment embeds sustainability into product design, operations and corporate governance, reflecting a drive to decarbonize, increase circularity and lead the security-and-access industry toward lower environmental impact.- Integrate sustainability across product lifecycles - from materials and manufacturing to installation, maintenance and end-of-life.
- Deliver safe, reliable and digitally enabled access solutions that lower customers' total cost of ownership and environmental footprint.
- Grow profitably while investing in innovation, employee development and responsible supply-chain practices.
- Operationalize the vision through measurable targets (energy, emissions, waste, and circular design) and transparent reporting aligned with global frameworks.
- Embed sustainability in capital allocation and R&D priorities to reinforce a long-term competitive position.
| Metric / Target | Latest public figure (FY / target year) |
|---|---|
| Revenue | Approx. CHF 2.7 billion (FY 2023) |
| Employees | ~16,000 worldwide (2023) |
| EBIT margin (adjusted) | ~9-11% range (recent fiscal years) |
| Scope 1 & 2 emissions target | Progressive reduction targets announced; aligned with SBTi commitments (interim 2030 reductions) |
| Net-zero ambition | Long-term target to reach net-zero (company-aligned roadmap toward mid-century) |
- Core values driving the mission:
- Customer orientation - solutions that meet security, convenience and sustainability needs.
- Integrity - transparent governance, compliance and responsible sourcing.
- Innovation - digitalization, product modularity and sustainable materials.
- Collaboration - partnerships across supply chains and with customers to scale impact.
dormakaba Holding AG (0QMS.L) Vision Statement
dormakaba's vision is to be the global leader in access and security solutions - creating safe, sustainable and seamless access to buildings and rooms for people, assets and information. This vision is supported by measurable targets and strategic investments that translate purpose into performance across financial, technological and ESG dimensions.- Integrity - transparent governance, ethical procurement and compliance across a global footprint of operations in more than 50 countries.
- Customer Orientation - product portfolios and service models designed around customer journeys, with a growing services and software share of total sales.
- Innovation - sustained R&D investment to accelerate digital and electromechanical access solutions.
- Responsibility - emissions, circularity and community engagement targets embedded into operations and supply chain.
- Performance - operational excellence targets (margin, cash conversion, aftermarket growth) to deliver shareholder value.
- Trust - long-term relationships with building owners, installers and facility managers backed by warranties, certifications and auditability.
| Metric | Latest reported / Approximate | Target / Trend |
|---|---|---|
| Annual sales (FY2023/2024) | ≈ CHF 2.8-2.9 billion | Grow mid-single digits annually via aftermarket & digital services |
| EBITDA margin | Low-to-mid teens % range | Improve through productivity programs and mix shift to services |
| Employees | ≈ 16,000 worldwide | Maintain skilled workforce; increase digital & service headcount |
| R&D investment | ≈ 2% of sales (~CHF 60-75 million) | Sustain or increase to accelerate digital access, IoT and cyber-secured solutions |
| Aftermarket / Services share | Growing portion of sales (double-digit % of revenue) | Strategic priority for recurring revenue and margin stability |
| Scope 1+2 CO2 emissions | Managed with energy efficiency and renewables (base year reductions in progress) | Short- to mid-term reduction targets toward 2030; move to net-zero pathways |
- Focus: electromechanical locks, mobile access, cloud-based access management, and integrated building security platforms.
- Investment approach: allocated R&D budget (~2% of sales) targeted to software-enabled products, connectivity and cybersecurity.
- Commercialization: cross-selling into global key accounts and scaling subscription/service models to increase recurring revenue.
- Compliance: global code of conduct, anti-corruption policies and supplier audits to enforce ethical sourcing.
- Transparency: periodic sustainability reporting aligned with recognized frameworks and external assurance on key KPIs.
- Stakeholder engagement: structured customer feedback loops, installer training programs and investor communications.
- Environmental: energy-efficiency upgrades, renewable procurement and product lifecycle strategies to reduce footprint.
- Social: employee safety programs, skills development, and local community initiatives in manufacturing hubs.
- Governance: board oversight of ESG performance and integration of ESG metrics into executive incentives.
| Levers | How they map to Vision & Values | KPIs to watch |
|---|---|---|
| Services & Software growth | Customer orientation + performance | Recurring revenue %, customer retention, gross margin |
| Product innovation | Innovation + trust | R&D spend, product launches, IP filings, commercial adoption rates |
| Operational excellence | Performance + responsibility | EBITDA margin, working capital days, CO2 per revenue |
| ESG integration | Responsibility + integrity | Scope 1/2 reductions, supplier audits, sustainability ratings |
- Clear metrics: revenue growth, margin expansion, free cash flow conversion and recurring revenue mix inform investor expectations.
- Capital allocation: prioritizing organic investment in digital capabilities and selective M&A to fill technological or geographic gaps.
- Disclosure: regular reporting cadence and engagement to demonstrate progress on strategic KPIs and ESG objectives.
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