Capital Market Day 2021 - Kardex increases financial targets
22 November 2021, Ad Hoc
Kardex Holding AG / Key word(s): Miscellaneous
22-Nov-2021 / 20:00 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.
Kardex Holding AG is holding the Capital Market Day 2021 tomorrow at the premises of its customer Pilatus Flugzeugwerke AG. At the event for institutional investors and analysts, Kardex's intralogistics solutions will be demonstrated in practical application and the Group's portfolio of solutions, which has been expanded to include new technologies, will be presented in greater detail. At the Capital Market Day, Kardex will also announce an adjustment to its financial targets
At the Pilatuswerke production site in Stans, Kardex Remstar has installed several solutions for optimizing production logistics in recent years. The latest solution based on the new product - Vertical Buffer Module (LR35) - and its operational and business benefits will be presented in detail to the participants of the event by those responsible at Kardex Remstar and the aircraft manufacturer.
In addition, the Head of New Business at Kardex Remstar and the Head of Corporate Technology at Kardex will present not only Kardex solutions in practical application but also trends in the development of intralogistics.
Furthermore, the investments made in recent years in participations in Robomotive and Rocket Solution to expand Kardex's solution portfolio will be explained. The innovative technologies of these two companies also open the doors to new industry segments, among other things.
Adjustment of financial targets
Based on the growing need for automation in intralogistics and the company's strong market position, management expects Kardex to grow organically and sustainably by between 5-7% annually over the cycle (previously 4-5% p.a.). Following a phase of increased investment in the supply chain and Kardex Remstar's new IT infrastructure, profitability will also settle at a higher level. The target EBIT range for Kardex Remstar has therefore been revised to 14-17% (from 8-16%), and that for Kardex Mlog to 5-8% (from 4-8%). The holdings Rocket Solution, Robomotive and Kardex Autostore, which are located directly under the holding umbrella, are currently still weighing on the Group result but should make an adequate profit contribution from 2023 onwards. Therefore, the EBIT target range for Kardex has been increased to 10-14% (previously >6%).
Going forward, Kardex will continue to focus on a strong balance sheet with a maximum leverage ratio of 2.5x EBITDA. Despite the growth initiatives, the payout ratio will continue to be up to 75% of the operating net profit.
The presentations of this event are available on the website (www.kardex.com) tomorrow at 07.00 am.