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Key Figures
01.01. - 31.12. (in EUR million) | 2023 | (%) | 2022 | (%) | (+/ –%) |
---|---|---|---|---|---|
Bookings | 673.9 | 95.9% | 698.6 | 123.5% | -3.5% |
Order backlog (31.12.) | 475.9 | 67.7% | 510.5 | 90.3% | -6.8% |
Net revenues | 702.9 | 100.0% | 565.6 | 100.0% | 24.3% |
Gross profit | 235.9 | 33.6% | 177.7 | 31.4% | 32.8% |
OPEX | 150.0 | 21.3% | 121.9 | 21.6% | 23.1% |
EBITDA | 99.3 | 14.1% | 65.4 | 11.6% | 51.8% |
Operating result (EBIT) | 85.9 | 12.2% | 55.8 | 9.9% | 53.9% |
Result for the period (net profit) | 66.9 | 9.5% | 38.6 | 6.8% | 73.3% |
Free cash flow | 46.2 | -15.2 | 403.9% | ||
ROIC | 37.5% | 27.5% |
01.01. - 31.12. (in EUR million) | 2023 | (%) | 2022 | (%) | (+/ –%) |
---|---|---|---|---|---|
31.12.2023 | (%) | 31.12.2022 | (%) | (+/-%) | |
Net working capital | 102.2 | 76.2 | 34.1% | ||
Net Cash 1 | 119.6 | 102.7 | 16.5% | ||
Equity/Equity ratio | 240.1 | 56.9% | 204.6 | 56.2% | 17.4% |
Employees (FTE) | 2'397 | 2'097 | 14.3% | ||
2023 | (%) | 2022 | (%) | (+/-%) | |
Distribution per share (CHF) 2 | 5.00 | 3.50 | 42.9% |
1 Definition according Alternative Performance Measures (APM) see note 1 of the consolidated financial statements.
2 2023: Distribution of a dividend as proposed to the Annual General Meeting to be held on 25 April 2024.
Income Statement
in EUR million | 2023 | (%) | 2022 | (%) |
---|---|---|---|---|
Net revenues 1 | 702.9 | 100.0% | 565.6 | 100.0% |
Cost of goods sold and services provided | 467.0 | -66.4% | -387.9 | -68.6% |
Gross profit | 235.9 | 33.6% | 177.7 | 31.4% |
Sales and marketing expenses | -76.3 | -10.9% | -65.3 | -11.5% |
Administrative expenses | -50.9 | -7.2% | -41.9 | -7.4% |
R&D expenses | -17.5 | -2.5% | -12.7 | -2.2% |
Other operating income | 0.5 | 0.1% | 0.7 | 0.1% |
Other operating expenses | -5.8 | -0.8% | -2.7 | -0.5% |
Operating result (EBIT) | 85.9 | 12.2% | 55.8 | 9.9% |
Financial result, net | 1.2 | 0.2% | -2.3 | -0.4% |
Result for the period before tax (EBT) | 87.1 | 12.4% | 53.5 | 9.5% |
Income tax expense | -20.2 | -2.9% | -14.9 | -2.6% |
Income tax rate (based on EBT) | 23.2% | 27.9% | ||
Result for the period | 66.9 | 9.5% | 38.6 | 6.8% |
Attributable to:
in EUR million | 2023 | (%) | 2022 | (%) |
---|---|---|---|---|
Shareholders of Kardex Holding AG | 66.6 | 9.5% | 37.8 | 6.7% |
Non-controlling interests | 0.3 | 0.0% | -0.8 | 0.1% |
Result for the period | 66.9 | 9.5% | 38.6 | 6.8% |
Earnings per share attributable to shareholders of Kardex Holding AG (EUR) 2 | 8.63 | 4.90 |
1 Thereof from construction contracts (percentage of completion (POC)): EUR 139.9 million (EUR 100.1 million).
2 No dilutive effect occurred in 2023 and 2022.
Balance Sheet
in EUR million | 31.12.2023 | (%) | 31.12.2022 | (%) |
---|---|---|---|---|
Cash and cash equivalents | 107.3 | 25.4% | 71.2 | 19.6% |
Trade accounts receivable | 93.0 | 22.0% | 80.7 | 22.2% |
Other receivables | 47.8 | 11.3% | 32.4 | 8.9% |
Current fixed term deposits | 12.3 | 2.9% | 31.5 | 8.7% |
Inventories and work in progress | 23.4 | 5.5% | 33.5 | 9.2% |
Prepaid expenses | 10.9 | 2.6% | 8.6 | 2.4% |
Current assets | 294.7 | 68.9% | 257.9 | 70.8% |
Property, plant and equipment | 68.9 | 16.3% | 61.2 | 16.8% |
Intangible assets | 8.4 | 2.0% | 11.2 | 3.1% |
Financial assets | 50.2 | 11.9% | 33.8 | 9.3% |
Non-current assets | 127.5 | 30.2% | 106.2 | 29.2% |
Assets | 422.2 | 100.0% | 364.1 | 100.0% |
Trade accounts payable | 25.7 | 6.1% | 26.3 | 7.2% |
Other current liabilities | 44.2 | 10.5% | 47.3 | 13.0% |
Current provisions | 8.4 | 2.0% | 4.4 | 1.2% |
Accruals | 72.6 | 17.2% | 54.4 | 14.9% |
Current liabilities | 150.9 | 35.7% | 132.4 | 36.4% |
Non-current provisions | 31.2 | 7.4% | 27.1 | 7.4% |
Non-current liabilities | 31.2 | 7.4% | 27.1 | 7.4% |
Liabilities | 182.1 | 43.1% | 159.5 | 43.8% |
Share capital | 2.5 | 0.6% | 2.5 | 0.7% |
Capital reserves 1 | 32.3 | 7.7% | 32.1 | 8.8% |
Goodwill offset | -45.0 | -10.7% | -42.8 | -11.8% |
Retained earnings and translation differences 1 | 251.1 | 59.5% | 214.3 | 58.9% |
Treasury shares | -1.8 | -0.4% | -2.2 | -0.6% |
Equity before non-controlling interests | 239.1 | 56.6% | 203.9 | 56.0% |
Non-controlling interests | 1.0 | 0.2% | 0.7 | 0.2% |
Equity | 240.1 | 56.9% | 204.6 | 56.2% |
Equity and liabilities | 422.2 | 100.0% | 364.1 | 100.0% |
1 The equity comprises EUR 17.5 million (EUR 17.3 million) in non-distributable reserves.
in EUR million | 31.12.2023 | (%) | 31.12.2022 | (%) |
---|
Cash Flow Statement
in EUR million | 2023 | 2022 |
---|---|---|
Result for the period | 66.9 | 38.6 |
Depreciation, amortization and impairment | 13.4 | 9.6 |
Additions to or reversal of provisions | 12.9 | 5.0 |
Gain/loss on sale of assets | - | -0.5 |
Other non–cash items | -2.1 | 2.2 |
Change in accounts receivable | -12.8 | -19.0 |
Change in other receivables | -15.7 | -5.3 |
Change in inventories and work in progress | -9.5 | -27.0 |
Change in prepaid expenses | -2.5 | -4.2 |
Change in accounts payable | -0.5 | 6.8 |
Change in other current liabilities | -2.9 | 10.0 |
Change in provisions | -4.6 | -3.6 |
Change in accruals | 18.8 | -2.2 |
Net cash flow from operating activities | 80.4 | 10.4 |
Purchase of property, plant and equipment | -16.6 | -14.2 |
Sale of property, plant and equipment | 0.4 | 1.2 |
Purchase of intangible assets | -3.1 | -4.6 |
Sale of intangible assets | 0.2 | - |
Change in current fixed term deposits | 19.2 | 42.7 |
Purchase of non-current fixed term deposits | - | -11.0 |
Purchase of financial assets | -0.1 | - |
Change in other investments | -13.1 | -7.9 |
Acquisition of subsidiary | -1.9 | - |
Sale of subsidiary | - | -0.1 |
Net cash flow from investing activities | -15.0 | 6.1 |
Acquisition of treasury shares | - | -1.9 |
Disposal of treasury shares | - | 1.5 |
Change in current financial liabilities | - | 0.2 |
Divident paid | -27.5 | -32.6 |
Net cash flow from financing activities | -27.5 | -32.8 |
Effect of currency translation differences on cash and cash equivalents |
-1.8 | 1.6 |
Net change in cash and cash equivalents | 36.1 | -14.7 |
Cash and cash equivalents at 1 January | 71.2 | 85.9 |
Cash and cash equivalents at 31 December | 107.3 | 71.2 |
Net change in cash and cash equivalents | 36.1 | -14.7 |
* Restated see notes.
in EUR million | 2023 | 2022 |
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