Kardex AG: Continued good business at Kardex
30 July 2019, Company News
Kardex AG / Key word(s): Half Year Results
Media information - Half Year Results 2019
Zurich, 30 July 2019
Continued good business at Kardex
The Kardex Group is once again looking back on a positive first half with increased revenues and a further improvement in operating income. The largely stable market conditions and strong position in the intralogistics market led to a continuation of a good level of bookings at Kardex Remstar, thus ensuring full order books. At Kardex Mlog, bookings in the period under review were low, but revenues also show double-digit growth with good margins due to the processing of the high order backlog.
At EUR 239.9 million, bookings for Kardex Group were 2.5% down from previous year's level
Strong increase in operating income and net profit
Kardex Remstar with a further increase in bookings
The order backlog of EUR 185.9 million (EUR 160.1 million) at the end of the period provides an extended visibility with regards to the revenue development in the second half of the year.
Investments in the supply chain are beginning to take effect and delivery times could be slightly reduced. New business revenues increased by 22.0% and Life Cycle Service business grew by 12.6%, not least due to the market's good acceptance of the continuously expanded services. Overall, the division's revenue grew by 19.1% year-on-year to EUR 189.1 million (EUR 158.8 million). Operating income rose by 19.1% to EUR 27.4 million, which corresponds to the same good EBIT margin of 14.5%.
As North America in particular continues to develop in a promising way, the division will open an own production site in the USA approximately mid-2020. The corresponding planning processes are already well advanced. In addition, the recruitment of qualified personnel in all functions and markets remains a major challenge for the organization.
Kardex Mlog with solid development despite weak bookings
Balance sheet remains solid
Today, 30 July 2019 at 2:00 p.m. (CET), an analyst and media conference call will be held with CEO Jens Fankhänel, CFO Thomas Reist as well as Investor Relations Contact Officer Alexandre Müller to discuss the half-year results. The conference call will be held in English. The corresponding presentation is available on http://www.kardex.com/presentation.
Kardex Group - Corporate Profile
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Document title: Kardex_Media information Half Year Results 2019
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