Letter to the shareholders
The integration has made good progress and we are on track, having achieved a visible impact on our profitability.
In these consolidated full-year financial statements, we provide two different sets of figures for the previous year period 2015/16 as a result of the business combination of former Dorma and former Kaba, which became effective on 1 September 2015. As a result, the former Dorma Group’s entities were consolidated from 1 September 2015 (for ten months) in line with Swiss GAAP FER. The published previous year figures (2015/16) relate to the business activities of the former Kaba Group for the entire period, while the former Dorma Group was only included for ten months (“as reported”). However, to increase interpretability, in addition separate pro forma figures for the previous year period 2015/16 are shown as if the Dorma Group
would have been consolidated since 1 July 2015 already. Commentaries in the texts about the income statement refer to these pro forma figures.