Dormakaba Holding Ag · SIX:DOKA
Dormakaba — Investor Day (November 2024)
54 slides from Dormakaba's investor day presentation, November 2024
Slide 1: Capital Markets Day
dormakaba — ce ail ——- ll TT | i | ar | Capital Markets yume
Slide 2: Capital Markets Day 2024 Agenda and Speakers
Capital Markets Day 2024 From Shape to Growth Agenda Speakers 09:00 Welcome Till Reuter, CEO 09:05 Keynote — From Shape to Growth Till Reuter, CEO 09:45 Room change - Break out sessions 09:50 9 Commercial Steve Bewick, CCO * Innovation Magin Guardiola, ClO * Operations Carsten Franke, COO 14:15 Coff
Slide 3: Presenters of the day
Capital Markets Day 2024 Presenters of the day Till Reuter René Peter Carsten Franke Steve Bewick Magin Guardiola Chief Executive Officer Chief Financial Officer a.i. Chief Operations Officer Chief Commercial Officer Chief Innovation Officer dormakaba vz Capital Markets Day 2024 3 Fr
Slide 4: CEO Keynote, November 2024
20 November 2024 ~ .@) Se Y) = O pe LL Chief Executive Officer - o =] -] oO a = + N i=} N a> fe) a a 2 © f -3 rs 5 = 3 = [om fo] O dormakabavza
Slide 5: Agenda
Capital Markets Day 2024 Agenda a We operate in an attractive industry a5 eeEeeEe a A dormakaba is well positioned with a 2) holistic, global offering ae 4 —- moe a oe Taking the next step: E from Shape to Growth FH TT Financial profile and mid-term targets dormakaba vz Capital Markets Day 2024
Slide 6: We operate in an attractive industry
Capital Markets Day 2024 We operate in an attractive industry dormakaba vz Capital Markets Day 2024
Slide 7: One of the most attractive markets in industrial goods
We operate in an attractive industry One of the most attractive markets in industrial goods High resilience Pricing Power + Access control solutions, a fraction of the buildings’ total cost of ownership * Brand reputation and regulatory know-how are key * Good profitability and less cyclicality * Bi
Slide 8: Resilient and late-cyclical industry with strong growth potential
We operate in an attractive industry Resilient and late-cyclical industry with strong growth potential dormakaba Po en Organic Growth 2014-2023, Top Industry Players Capital Markets Day 2024 Well balanced New construction * Infrastructure Refurbishment & * Industries Aftersales Service * Institution
Slide 9: Industry growth is reinforced by powerful megatrends
We operate in an attractive industry Industry growth is reinforced by powerful megatrends... baniza' Smart cities are on the rise. People are reassessing what they want from urban living 200,000 7 billion 11,000+ people move to a city people will be livingin new buildings each day urban areas by 205
Slide 10: Strengthened by construction industry trends
We operate in an attractive industry ..and strengthened by construction industry trends Building Modernization Global building renovation market expected to grow at a 4-5% CAGR ran’ >4 billion connected loT devices in oll commercial buildings by 2028 <30% of US homes protected to National Fire Prote
Slide 11: Example Offices: Managing productivity of people flow and spaces
We operate in an attractive industry Example Offices: Managing productivity of people flow and spaces Facility People flow exchange and interaction Visitor Protection of management & people, assets co-working and IP Space utilization & booking, indoor navigation Optimize energy, service & maintenanc
Slide 12: Evolution of customer needs drive demand for Access Solutions
We operate in an attractive industry Evolution of customer needs drive demand for Access Solutions Ge Connectivity & Cloud Interoperability & Simplicity YP Design ey Energy Efficiency & Serviceability Requires customer centricity with strong domain and vertical knowhow dormakaba vz Capital Markets D
Slide 13: Our products create value across the whole building lifecycle
We operate in an attractive industry Our products create value across the whole building lifecycle Selected stakeholders + Architect + Investor/Owner * Contractor + Planner * Government Building Lifecycle © Operate Maintain Productivity in Core Operating Cost Energy Cost + Installer + End User + Dis
Slide 14: Evolving underlying technologies in the access solutions industry
We operate in an attractive industry Evolving underlying technologies in the access solutions industry ’ Interoperability & Pa roperability Electromechanical Open Standards aX o sae = transition Connectivity FF Cc f Physical Nea ’ onvergence of Physica’ YS &Cloud ? * $ & Cyber Security | be poe Data
Slide 15: dormakaba is well positioned with a holistic, global offering
Capital Markets Day 2024 dormakaba is well positioned with a holistic, global offering dormakabavza Capital Markets Day 2024
Slide 16: Holistic, global offering of products and solutions
dormakaba is well positioned with a holistic, global offering Well positioned with a holistic, global offering of products & solutions... cl fo re) 4 Access Hardware Access Automation Access Control Key & Wall Solutions Solutions (AHS) Solutions (AAS) Solutions (ACS) Services and OEM (KWO) Door Clos
Slide 17: Underlying key competence of today and tomorrow
dormakaba is well positioned with a holistic, global offering ..with underlying key competence of today and tomorrow ny er © 3 Access Hardware Access Automation Access Control Key & Wall Solutions Solutions (AHS) Solutions (AAS) Solutions (ACS) Services and OEM (KWO) Door Closers Entrance Automation
Slide 18: Resilient exposure across end-markets with strong project and service business
dormakaba is well positioned with a holistic, global offering Resilient exposure across end-markets with strong project and service business he Product business 60% & wax. Y bs vs. 10% of “Waesidential bus yn25% Projects) 15% Aftersales! Senvices Based on FY 2023/24 net sales dormakaba vz Capital Ma
Slide 19: Offering products and solutions for a wide variety of verticals
dormakabza is well positioned with a holistic, global offering Offering products & solutions for a wide variety of verticals Hospitality ~10% Office >15% , Healthcare 5-10% o Transportation 5-10% Multi-Housing >10% Industrial ~10% ‘Fs LB dormakabay Capital Markets Day 2024
Slide 20: Uniquely positioned to benefit from installed base and upsell
dormakaba is well positioned with a holistic, global offering Uniquely positioned to benefit from installed base and upsell into technologically advanced solutions Installed Base Use Case a} [I] CHF ~20 bn Service technician site visit, manual labor Product repair with replacement parts Product succ
Slide 21: Leading in sustainability and helping partners make a positive impact
dormakaba is well positioned with a holistic, global offering Leading in sustainability and helping our partners make a positive impact We contribute to 9 out of 17 SDGs Three pillar approach to sustainability ‘ooo eA ‘waar coer ‘MO WEEE cron Equury —w/ AMBER Ap ccnncvo [Pg rosmaowm B47) rou a ian e
Slide 22: dormakaba Capital Markets Day 2024
Taking the next step: from Shape to Growth dormakaba Capital Markets Day 2024
Slide 23: From Shape to Growth
Taking the next step: from Shape to Growth Taking the next step: From Shape to Growth Elevate performance Reduce complexity Strict execution of 1 Streamline product portfolio to Shape4Growth free up resources to innovate Launch commercial ONE dormakaba transformation . Resilience, simplicity and cos
Slide 24: Elevate performance
Taking the next step: from Shape to Growth Taking the next step: From Shape to Growth Elevate performance Strict execution of Shape4Growth Launch commercial transformation | Establish performance culture dormakaba vz Capital Markets Day 2024
Slide 25: Transformation program delivering tangible results
Taking the next step: from Shape to Growth Transformation program delivering tangible results Sequential margin improvement over the last 4 semesters A 16%-18% >15% 14.8 14.0 zi — o— ae re H1 — 2024/25 2025/26 pepE 2023/24 Hl adj. EBITDA margin, % dormakaba vz Capital Markets Day 2024 Savings target
Slide 26: Continue strict execution while adding Commercial Transformation
Taking the next step: from Shape to Growth Continue strict execution while adding Commercial Transformation Transformation savingsbylever uz CHF m BQ Savings Procurement Operational Product G&A IT Savings realized Efficiency development target until end of 2025/26 2023/24 dormakaba vz Capital Market
Slide 27: Commercial transformation to deliver additional CHF 40m savings
Taking the next step: from Shape to Growth Commercial transformation to deliver additional CHF 40m savings Go-To-Market ngtail Countries Sales Excellence + Focus on Global Core * Exit and import + Standardize & + Improve customer * Free up frontline * Account + Restructure enhance “opportunity exper
Slide 28: Establish performance culture
Taking the next step: from Shape to Growth Establish performance culture [F] Invest in people Al Aligned incentive scheme El Drive accountability and ownership on all levels dormakaba Capital Markets Day 2024
Slide 29: Reduce complexity
Taking the next step: from Shape to Growth Taking the next step: From Shape to Growth Reduce complexity Streamline product portfolio to free up resources to innovate ONE dormakaba Resilience, simplicity and cost efficiency in supply chain Sustainability dormakaba vz Capital Markets Day 2024
Slide 30: Continuous review of business portfolio to reduce complexity
Taking the next step: from Shape to Growth Continuous review of business portfolio to reduce complexity Portfolio Measures Divest Under-Critical Business Reduce Unprofitable Business Optimize Go-to-market i. Sale or MBO of business and serve as Exit service organizations and other £2 Leverage market
Slide 31: Streamline product portfolio to free up resources
Taking the next step: from Shape to Growth Streamline product portfolio to free up resources [i Simplify Access Control Solutions Streamline Door Closer Portfolio to increase agility and get closer to customer wa Free up resources to innovate dormakaba vz Capital Markets Day 2024
Slide 32: Simplify Access Control Solutions: reduce software platforms by >50%
Taking the next step: from Shape to Growth Simplify Access Control Solutions — reduce software platforms by > 50% Ecosystem for cloud & EntriworX NY * . 1 Focus invest and offerings and Platform for a Global Hardware 3 Develop Connected Device reduce Software applications Software platforms reductio
Slide 33: Streamline Hardware Portfolio, starting with door closers
Taking the next step: from Shape to Growth Streamline Hardware Portfolio — starting with door closers —— * CHF ~300m of Group's net sales from door closers + Vast variety of articles + Less than 3% of SKUs generate 80% of profit * Driving complexity in R&D, supply chain, manufacturing and logistics,
Slide 34: Introducing one global R&D roadmap
Taking the next step: from Shape to Growth Introducing one global R&D roadmap ee ees ee oo Focus +) Alignment +) Synchronized rotna ts a . ZZ. oc 2. SST za on major with go-to-market == opportunities key markets More efficient, more reliable, higher ROI - eliminating duplications in development ~ 4
Slide 35: Strong local-for-local footprint with regional hubs
Taking the next step: from Shape to Growth Strong local-for-local footprint with 3 regional hubs ~95% local-for-local production ~20% in best-cost country with production in Nogales, Mexico dormakaba vz Capital Markets Day 2024 ~90% local-for-local production <5% in best-cost country with production
Slide 36: Innovate & Grow
Taking the next step: from Shape to Growth Taking the next step: From Shape to Growth dormakaba vz Capital Markets Day 2024 Innovate & Grow Integrated, innovative products & Ecosystem Grow North America / Grow verticals External growth 36
Slide 37: Our products are evolving from the purely physical into the digital world
Taking the next step: from Shape to Growth Our products are evolving from the purely physical into the digital world TT This is NOT a door closer ) This is an loT device dormakaba vz Capital Markets Day 2024 37 Fr
Slide 38: Our offering is evolving towards connected, intelligent and digital
Taking the next step: from Shape to Growth Our offering is evolving towards CONNECTED, INTELLIGENT and DIGITAL Access Hardware Mechanical, Safety & Security Serviceability Solutions \= Btandalone CONNECTED (AHS) Energy Efficiency Compliance Access Electro- Automation mechanical, Ne Solutions ihe sta
Slide 39: Tangible, innovative, customer-centric solutions creating customer value
Taking the next step: from Shape to Growth Tangible, innovative, customer-centric solutions are creating customer value across the building lifecycle... ncy Calculator 4 Enabling our customers to Bringing door closers in the save energy and CO2 digital age Boosting efficiency in specification & plan
Slide 40: Helping customers to become more efficient
Taking the next step: from Shape to Growth ..and help customers to become more efficient Plannin 2% — ein) 7 Y 4,2. _ A J Reduction of planning cost ~ : Installation [30-80% ‘ Y J EntriWorX a Rp, 2 b ML Reduction of installation & commissioning time i Operation [20-40% ® = Savings in remote analysis
Slide 41: Developing into the end-to-end solutions provider combining physical and digital
Taking the next step: from Shape to Growth Oe: Developing into THE emeCIGeSS solutions . "provider combining | physical & digital ; world dormakaba vz Capital Markets Day 2024
Slide 42: Gain market share in North America
Taking the next step: from Shape to Growth Gain market share in North America Net sales ambition: GDP growth +2% p.a. over next 3 years G) Focus on selected markets and distributors @ Improve commercial productivity dormakaba vz Capital Markets Day 2024
Slide 43: Strengthen our vertical approach
Taking the next step: from Shape to Growth Strengthen our vertical approach Currently strong presence in... ..aind big potential in ini il nk ‘am HOSPITALITY (GLOBAL) UTILITIES, SPORTS &... dormakaba vz Capital Markets Day 2024
Slide 44: Adding external growth and participating in industry consolidation
Taking the next step: from Shape to Growth Adding external growth and participating in ongoing industry consolidation Market share development of the top three industry players 1994 — 2024 Latest 2019 2011 1994 > @ Top three players Tier 2 Source: Company estimates dormakaba vz Capital Markets Day 2
Slide 45: Acquisition priorities and acquisition criteria
Taking the next step: from Shape to Growth Adding external growth and participating in ongoing industry consolidation Acquisition priorities... ..With clearly defined acquisition criteria + Building Leadership positions * Scale up global core, with emphasis on AAS and ACS Q) Convincing USP * Regiona
Slide 46: From Shape to Growth
Taking the next step: from Shape to Growth Taking the next step: From Shape to Growth Elevate performance Reduce complexity Strict execution of 1 Streamline product portfolio to Shape4Growth free up resources to innovate Launch commercial ONE dormakaba transformation . Resilience, simplicity and cos
Slide 47: Financial profile and mid-term targets
Financial profile and mid-term targets dormakaba Capital Markets Day 2024
Slide 48: Financial performance is getting traction
Financial profile and mid-term targets Financial performance is getting traction Net Sales 7.7% 8.4% 4.7% 2021/22 2022/23 2023/24 > A * Mid to high single-digit sales growth * Gaining market share dormakaba vz Capital Markets Day 2024 Adj. EBITDA margin 1] 14.7% 13.5% 13.5% 2021/22 2022/23 2023/24 O
Slide 49: On track to 2025/26 commitments
Financial profile and mid;term targets a 9 a - a) 4 On track to “Ee 2025/26 commitments +3-5% 16-18% >30% Organic net sales Adj. EBITDA margin in FY ROCE in FY 2025/26 -) 9 growth p.a. a) 2025/26 > > > ~ 4 Dall > on track > 14.7%, 29.0% _ , Adj. EBITDA margin in FY ROCE in FY 2023/24
Slide 50: dormakaba with an attractive business and financial profile
Financial profile and mid-term targets dormakaba with an attractive business and financial profile , Balanced business portfolio with limited volatility dormakaba has , Low capital intensity & attractive profitability an attractive business & iF High Cash Generation financial profile Strong Balance
Slide 51: Capital Allocation Priorities
Financial profile and mid-term targets Capital Allocation Priorities CG Maintaining strong balance sheet 6 Funding organic growth 3 ) Value accretive acquisitions dormakaba Capital Markets Day 2024
Slide 52: Initiatives to deliver until June 2026 and beyond
Financial profile and mid-term targets Current and new initiatives to deliver until June 2026 and beyond Mid-term targets 2025/26 3-5% Shape4Growth i Organic net sales growth p.a. +) Grow North America / Grow verticals —1R9 Shape4Growth transformation CHF 170m | 1 6 18 % . Adj. EBITDA margin in FY 2
Slide 53: Execution is key, re-building trust, shifting gears to growth
Financial profile and mid-term targets Execution is key | Re-building trust | Shifting gears to growth +5-5% 16-18% >30% Organic net sales growth p.a. Adj. EBITDA margin in ROCE in FY 2025/26 FY 2025/26 dormakabavz Capital Markets Day 2024 53 Fl
Slide 54: Thank you
dormakabay Thank you dormakaba Holding AG Hofwisenstrasse 24, 8153 Rumlang Switzerland dormakabagroup.com