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Smart Buildings

essensys Flexible Workspace Technology Business & 2022 New Financials Examined

November 30th, 2022
Smart Buildings

Mapping View Inc.’s Smart Building Strategy

November 29th, 2022
Smart Buildings

EnOcean: The Latest Smart Buildings Firm to Ride the SPAC Wave

The alternative IPO trend continues as German firm EnOcean announces its intention to implement a reverse merger with a SPAC to take them public early next year. Special purpose acquisition companies (SPACs) have proved a popular route for companies to list on the stock market without the rigmarole of a traditional IPO process. However, more often than not, smart buildings companies using these reverse mergers have either failed to complete their proposed deals or struggled since completing it. “The smart buildings market might not be ready for SPAC success. Whether it is because of the type of investors and business plans, or just the growth rate and maturity of the market, there seems to be a pattern forming for smart building SPACs. The SPAC route to IPO may also be attracting the smart building industry’s most ambitious and impatient companies, many of those companies might not be ready for the challenges of being publicly listed,” […]

Smart Buildings

Mapping Cushman & Wakefield Strategy in Smart Buildings

This Research Note examines the emerging strategic priorities of Cushman & Wakefield in the smart commercial buildings space. We have mapped M&A, divestments, strategic partnerships and investment activity to ascertain the growth ambitions of the business, categorizing the various business relationships by technology and investment type over a 3-year period. This article is intended as a non-exhaustive indicator of Cushman & Wakefield’s strategic direction between January 2020 and October 2022.  Cushman & Wakefield (C&W) is a leading global real estate services firm that serves real estate occupiers and owners. The company is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. Our strategy mapping exercise highlights 4 partnerships and 8 venture capital investments of relevance over the last three years.  The commentary below highlights some of […]

Smart Buildings

Siemens Buildings Business & 2022 Financials Examined

In this Research Note, we examine the Buildings business of Siemens, which operates within the Smart Infrastructure (SI) division, based on their Q4 press conference, earnings release, investor presentations of 17th November 2022 and building technology-related activities throughout the year. SI revenue growth is being led by strength in the Electrical Products business, which reported a 24% growth in Q4. While the Buildings business increased more modestly at 7%, driven by the product business. Smart Infrastructure achieved €17,353m revenues, year ending 30th September, 2022, a comparable revenue growth of 10% versus prior year and a 12.8% profit margin. Their Buildings Business is the largest of 3 segments in the SI portfolio, accounting for 45% or €6.7 billion of FY 2021 revenues. The Buildings segment offers integrated building management systems and software, HVAC control products, fire safety/security products and systems and solutions and services, including energy and performance services. While Siemens does not report financials for […]

Security

85% of All Cyber Crimes Go Unreported

As we continue to drive connected technology into buildings, we are experiencing a steady rise in the number of cyber attacks and a growing concern about the vulnerability of smart buildings. However, as much as 85% of all cyber crimes go unreported, according to the US Department of Justice (DOJ), meaning the scale of the problem is far greater than most people realize. Due to the lack of cyber security skills in buildings and low confidence in law enforcement to tackle individual cases, we are not getting the full story on cyber crime in smart buildings. “These statistics indicate that many organizations are either unable or unwilling to effectively report on the scale of their cyber security problem. Information about the disclosed incidents can be limited since many of the affected organizations are unaware of how threat actors managed to get initial access,” reads our latest research. “Many observers also point to the rising incidence […]

Smart Buildings

Johnson Controls Business and 2022 Financials Examined

In this Research Note, we examine the Johnson Controls business, based on their Q4 earnings release, conference call, investor presentation and 10K, reporting financials year ending 30th September 2022. Johnson Controls International plc (JCI), headquartered in Cork, Ireland, is a pure-play smart buildings player, serving a wide range of customers in more than 150 countries. They have a very significant market position across HVAC, building controls, fire, security and services, enhanced by a comprehensive equipment portfolio and substantial installed base. Compared to the prior year, reported sales for the year increased approximately 7% to $25.3 billion and grew 9% organically, in line with the high end of their guidance. Approximately 37% of sales originated from the Global Products portfolio. The global Building Solutions field businesses accounted for the remaining 63% with 39% of sales originating from installations and 24% of sales from service offerings. Johnson Controls has 4 reportable segments of which Global Products has the […]

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