Kardex Holding AG: Half-Year Results 2024
Source: EQS
Media Information – Half-Year Results 2024 Release of an ad hoc announcement pursuant to Art. 53 LR Half-Year Results 2024
The first half of 2024 was marked by a further normalization of business activity following the volatility of previous years. Despite the boost in the first two post-Covid years, the demand for intralogistics solutions remained steady across most business sectors and market regions. Although economic slowdown trends in various industries persisted, Kardex observed an uptick in investment appetite. The situation within the supply chain has generally eased. Gross profit margin improved, due to normalized material and transportation costs, which were partially offset by salary increases. Driven by the firm order backlog at the beginning of the year, net revenues increased, and profitability remained at a robust level. The continuing positive dynamics of demand for intralogistics solutions combined with Kardex' strong market position is reflected in bookings, which at Net revenues increased by 10.5% year-on-year to The balancing effect of a continuing increase in personnel costs and sinking material and transportation costs led to an improved gross profit margin of 34.4% (33.2%). Operating costs surged as planned to Moderate demand for Automated Products After the very strong post-Covid years, demand for Kardex Remstar’s Automated Products moderated slightly in all markets leading to bookings of Strong demand for Standardized Systems Demand for Standardized Systems (Kardex Mlog and Kardex AS Solutions) remains good, and the sales funnel remains full. The period of decision-making delays for larger projects at Kardex Mlog has eased markedly as of Q2 and demand for AutoStore systems continued to be extraordinarily strong. Both, Kardex Mlog and Kardex AS Solutions, are increasingly benefiting from sales, service and cost synergies. Overall bookings amounted to The EBIT of Strong cash flow and ROIC The free cash flow increased significantly compared to the beginning of the year, mainly due to a better result, lower outstanding receivables and an increase in accounts payable. Despite a substantial dividend payment, cash and cash equivalents increased significantly and equity slightly in the first half of the year. ROIC increased again and amounted to 39% (37.5%). Outlook Looking ahead, Kardex anticipates favorable conditions with inflation stabilization and ongoing interest rate adjustments. However, economic and geopolitical uncertainties persist in many regions. Nevertheless, the Board of Directors and the Group Management remain confident in continued customer investment in intralogistics solutions amid a skilled labor shortage, positioning Kardex well to capitalize on these trends. Despite the ongoing investments in the infrastructure, R&D and ERP landscape, Kardex expects to achieve results in line with the communicated financial targets of 10-14% EBIT margin.
Key figures in EUR million
Interim Report A PDF version of the Interim Report 2024 of Kardex is available on our website.
Contact for media and investors
Kardex Corporate Profile Disclaimer This communication contains statements that constitute “forward-looking statements”. In this communication, such forward-looking statements include, without limitation, statements relating to our financial condition, results of operations and business and certain of our strategic plans and objectives. Because these forward-looking statements are subject to risks and uncertainties, actual future results may differ materially from those expressed in or implied by the statements. Many of these risks and uncertainties relate to factors which are beyond Kardex’s ability to control or estimate precisely, such as future market conditions, currency fluctuations, the behavior of other market participants, the actions of governmental regulators and other risk factors detailed in Kardex’s past and future filings and reports and in past and future filings, press releases, reports and other information posted on Kardex companies’ websites. Readers are cautioned not to put undue reliance on forward-looking statements, which speak only of the date of this communication. Kardex disclaims any intention or obligation to update and revise any forward-looking statements, whether as a result of new information, future events or otherwise. Privacy policy You have registered with us for our ad hoc announcements and are therefore entered in Recipients of our communications have the option at any time of revoking their registration for ad hoc communications for the future or requesting information from Additional features: File: Kardex Media information_HYC 2024 End of Inside Information |
Language: | English |
Company: | |
Thurgauerstrasse 40 | |
8050 |
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Phone: | +41 (0)44 419 44 79 |
E-mail: | investor-relations@kardex.com |
Internet: | www.kardex.com |
ISIN: | CH0100837282 |
Valor: | 100837282 |
Listed: | Regulated Unofficial Market in |
EQS News ID: | 1956169 |
End of Announcement |
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1956169 30-Jul-