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Kardex AG: Interim report on the future of Kardex Stow

Media information Zurich, 18 December 2012 Kardex Group Interim report on the future of Kardex Stow



Kardex AG / Key word(s): Interim Report

 

18.12.2012 06:00

 

Release of an ad hoc announcement pursuant to Art. 53 KR

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Media information

 

Zurich, 18 December 2012

 

Kardex Group

 

Interim report on the future of Kardex Stow

 

Kardex Stow continues to perform well and is further expanding its presence

in selected markets. In doing so, the company benefits from its products'

strong market position, the ongoing expansion of its product range and the

continuing extension of cooperation with strong OEM and key account

partners such as Jungheinrich and Ikea. Moreover, the operational measures

initiated 18 months ago have brought about a lasting improvement in the

Division's key financial figures. With an EBIT margin of around 5% and ROCE

significantly in excess of 15%, Kardex Stow is well placed for the future

and a potential remain in the Kardex Group.

 

Despite this pleasing performance - and parallel to it - the Board of

Directors of Kardex AG and management of Kardex Stow have, in the last 12

months, been reviewing all the strategic options that would give Kardex

Stow an even better opportunity for development. Over recent months,

therefore, a merger with an industrial partner that possesses a

geographical network which is complementary to Kardex Stow's has been

analyzed and worked out. The associated due diligence procedures and

valuations are to a large extent completed. Still open is the financing of

the transaction which has to be secured by the industrial partner and some

contractual issues. In view of this, contract closure is unlikely by the

end of 2012. Should the industrial partner fail to secure the financing

until April 2013, the Board of Directors of Kardex AG will opt to retain

the Division within the Group.

 

 

Contact for media and investors:

 

Edwin van der Geest

Investor Relations investor-

relations@kardex.com

Tel. +41 79 330 55 22

www.kardex.com

 

Calendar of events

 

14 March 2013

Annual Report 2012, Analysts' and

Media Conference

 

25 April 2013

Annual General Meeting 2013

 

 

Kardex Group - Corporate Profile

 

The Kardex Group is a leading supplier of static and automated storage

solutions and materials handling systems. It consists of the three

corporate divisions Kardex Remstar, Kardex Stow and Kardex Mlog. Kardex

Remstar develops, produces and maintains dynamic storage and retrieval

systems, Kardex Stow static storage systems, shuttles and automated mobile

shelving systems and Kardex Mlog integrated materials handling systems and

automated high-bay warehouses. All divisions are partners for their

customers over the entire lifecycle of a product or solution. This starts

with an assessment of customer requirements and continues via the planning,

realization and implementation of customer-specific systems through to

ensuring a high level of availability and low lifecycle costs by means of

customer-oriented lifecycle management. More than 2 000 employees in over

30 countries worldwide work for the companies of the Kardex Group.

 

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 Group 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.

 

 

18.12.2012 News transmitted by EquityStory AG.

The issuer is responsible for the contents of the release.

 

EquityStory publishes regulatory releases, media releases on the capital

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Language: English

Company: Kardex AG

Thurgauerstrasse 40

8050 Zürich

Switzerland

Phone: +41 (0)44 419 44 44

Fax: +41 (0)44 419 44 17

E-mail: info@kardex.com

Internet: www.kardex.com

ISIN: CH0100837282

Swiss Security Number: A0RMWK

Listed: Freiverkehr in Berlin, München, Stuttgart; Open

Market in Frankfurt; SIX

 

End of Announcement EquityStory News-Service

 

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