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Strong EBIT gain and significantly improved balance sheet structure

The Kardex Group increased net revenues in the 2007 fiscal year by 11.4% to EUR 422.5 million (2006: EUR 379.1 million). The continued operations, KRM (Dynamic Storage and Retrieval Systems) and Stow (Static Storage Systems), both achieved record net revenues and bookings. The order backlog grew 21.8% to EUR 107.8 million (EUR 88.5 million). The Kardex Group's operating result showed a substantial improvement on the previous year's figure. Operating income for the continued operations amounted to EUR 35.2 million (EUR 18.6 mil-lion). Thanks to these operational improvements and the positive tax effects of the sale of the AFT Division, the net result for the entire Group increased to EUR 21.8 million (EUR -33.2 million). Net debt decreased by 41.5% to EUR 38.5 million (EUR 65.8 million) and equity rose by EUR 18.4 million to EUR 74.2 million (EUR 55.8 million), representing an equity ratio of 29.4% (19.2%).

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