Kaba Group generated net sales of CHF 562.5 million (-7.8%) for the first half of the 2009/2010 financial year. Acquisition- and currencyadjusted, sales went down 4.6%. EBIT was down 7.9% to CHF 72.6 million.
The Board of Directors of Kaba Holding AG is proposing to the Annual General Meeting of 19 October 2010 that it elect Elton SK Chiu, a Chinese resident in Hong Kong, and Daniel Daeniker, a Swiss citizen, to the Board of Directors.
Thanks to growth in the second half of the financial year and a significant improvement in earnings, Kaba Group is pleased with its 2009/2010 performance.
Sustainability and continuity: values that Kaba upholds not only when developing products, but also when making changes at Group level.
Kaba Holding AG is examining various strategic options for its Door Automation Business Segment. This includes ongoing talks with interested parties about a possible partnership or sale.
Kaba Holding AG's Annual General Meeting has accepted all the Board of Directors’ proposals.
Kaba subsidiary Silca has increased its stake in the Minda Silca joint venture from 50% to 65%. This move is intended to further strengthen the Minda Silca role in Silca's worldwide manufacturing platform and its position in India's growth market.