Kardex Holding AG: Increase in bookings and net profit
29 July 2021, Company News
Kardex Holding AG / Key word(s): Half Year Results
Media information - Half Year Results 2021
Zurich, 29 July 2021
Increase in bookings and net profit
Kardex recorded so far unmatched bookings of EUR 302.5 million in the reporting period, which is more than 50% above the first half of 2020, but also more than 25% higher than the strong first half of 2019. Catch-up effects as well as a noticeable boost of automation in various industry segments contributed to this. Bookings in new business increased by around 80% and the service business, which came through the pandemic sturdily, also managed a double-digit growth of around 10%. The order backlog as of June 30, 2021 amounts to EUR 313.4 million, which is 42.3% higher than at the beginning of the year.
At EUR 207.1 million, the revenues generated did not exceed the previous year's level, although the monthly development was reverse to the previous year - after a weak start to the year, revenues increased every month. Also, the Covid-related restrictions from customers for service work and new installations have gradually decreased. Revenues accounted for 63.2% (66.4%) in new business and 36.8% (33.6%) in services. The lower revenues in new business reflect, among other things, the major challenges created by shortages in the global supply chains. The gross profit margin of new business was negatively impacted by price increases for raw materials and components, which could only partially be compensated by price increases in the market.
Thanks to the higher service share of total revenues, gross profit increased by 4.7% to EUR 75.2 million, corresponding to a gross margin of 36.3% (34.6%). Operating costs also remained at a moderate level of EUR 48.3 million (EUR 47.8 million) and only slightly above the previous year. Travel and trade show costs remained at a low level, whilst targeted investments were made in research and development, especially into software and digitalization. With EUR 26.9 million and 13.0% respectively, EBIT and EBIT margin were higher than previous year. This also impacted net profit, which at EUR 19.6 million was 14.6% higher than in the same period of the previous year.
Kardex Remstar with positive development in e-commerce
Kardex Mlog benefits from automation push
Significant progress in strategic initiatives
Sustained strong balance sheet despite high investments
in EUR million
Contact for media and investors
Kardex - Corporate Profile
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File: Kardex Media Information Half Year Results 2021
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|Company:||Kardex Holding AG|
|Phone:||+41 (0)44 419 44 79|
|Listed:||Regulated Unofficial Market in Berlin, Frankfurt (Basic Board), Munich, Stuttgart; SIX Swiss Exchange|
|EQS News ID:||1222389|
|End of Announcement||EQS Group News Service|