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Results and Presentations
Key Figures
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Key Figures
| 01.01. - 31.12. (in EUR million) | 2022 | (%) | 2021 | (%) | (+/ –%) |
|---|---|---|---|---|---|
| Bookings | 698.6 | 123.5% | 603.0 | 132.4% | 15.9% |
| Order backlog (31.12.) | 510.5 | 90.3% | 366.6 | 80.5% | 39.3% |
| Net revenues | 565.6 | 100.0% | 455.5 | 100.0% | 24.2% |
| Gross profit | 177.7 | 31.4% | 163.3 | 35.9% | 8.8% |
| OPEX | 121.9 | 21.6% | 102.2 | 22.4% | 19.3% |
| EBITDA | 65.4 | 11.6% | 67.7 | 14.9% | -3.4% |
| Operating result (EBIT) | 55.8 | 9.9% | 61.1 | 13.4% | -8.7% |
| Result for the period (net profit) | 38.6 | 6.8% | 43.7 | 9.6% | -11.7% |
| Free cash flow | -15.2 | 51.4 | -129.6% | ||
| ROIC | 27.5% | 32.7% |
| 01.01. - 31.12. (in EUR million) | 2022 | (%) | 2021 | (%) | (+/ –%) | |
|---|---|---|---|---|---|---|
| 31.12.2022 | (%) | 31.12.2021 | (%) | (+/-%) | ||
| Net working capital | 76.2 | 44.1 | 72.8% | |||
| Net cash 1 | 102.7 | 148.5 | -30.8% | |||
| Equity/Equity ratio | 204.6 | 56.2% | 193.9 | 57.4% | 5.5% | |
| Employees (FTE) | 2'097 | 1'966 | 6.7% | |||
| 2022 | (%) | 2021 | (%) | (+/-%) | ||
| Distribution per share (CHF) 2 | 3.50 | 4.30 | -18.6% |
1 Definition according Alternative Performance Measures (APM) see note 1.
2 2022: Distribution of a dividend as proposed to the Annual General Meeting to be held on 20 April 2023
Income Statement
| in EUR million | 2022 | (%) | 2021 | (%) |
|---|---|---|---|---|
| Net revenues 1 | 565.6 | 100.0% | 455.5 | 100.0% |
| Cost of goods sold and services provided | -387.9 | -68.6% | -292.2 | -64.1% |
| Gross profit | 177.7 | 31.4% | 163.3 | 35.9% |
| Sales and marketing expenses | -65.3 | -11.5% | -53.3 | -11.7% |
| Administrative expenses | -41.9 | -7.4% | -37.6 | -8.3% |
| R&D expenses | -12.7 | -2.2% | -12.0 | -2.6% |
| Other operating income | 0.7 | 0.1% | 1.4 | 0.3% |
| Other operating expenses | -2.7 | -0.5% | -0.7 | -0.2% |
| Operating result (EBIT) | 55.8 | 9.9% | 61.1 | 13.4% |
| Financial result, net | -2.3 | -0.4% | -1.5 | -0.3% |
| Result for the period before tax (EBT) | 53.5 | 9.5% | 59.6 | 13.1% |
| Income tax expense | -14.9 | -2.6% | -15.9 | -3.5% |
| Income tax rate (based on EBT) | 27.9% | 26.7% | ||
| Result for the period | 38.6 | 6.8% | 43.7 | 9.6% |
Attributable to:
| in EUR million | 2022 | (%) | 2021 | (%) |
|---|---|---|---|---|
| Shareholders of Kardex Holding AG | 37.8 | 6.7% | 43.9 | 9.6% |
| Non-controlling interests | -0.8 | 0.1% | -0.2 | 0.0% |
| Result for the period | 38.6 | 6.8% | 43.7 | 9.6% |
| Earnings per share attributable to shareholders of Kardex Holding AG (EUR) 1 | 4.90 | 5.69 |
1 No dilutive effect occurred in 2022 and 2021.
Balance Sheet
| in EUR million | 31.12.2022 | (%) | 31.12.2021* | (%) | |
|---|---|---|---|---|---|
| Cash and cash equivalents | 71.2 | 19.6% | 85.9 | 25.4% | |
| Trade accounts receivable | 80.7 | 22.2% | 61.3 | 18.1% | |
| Other receivables | 32.4 | 8.9% | 27.3 | 8.1% | |
| Current fixed term deposits | 31.5 | 8.7% | 43.2 | 12.8% | |
| Inventories and work in progress | 33.5 | 9.2% | 6.5 | 1.9% | |
| Prepaid expenses | 8.6 | 2.4% | 4.3 | 1.3% | |
| Current assets | 257.9 | 70.8% | 228.5 | 67.6% | |
| Property, plant and equipment | 61.2 | 16.8% | 53.7 | 15.9% | |
| Intangible assets | 11.2 | 3.1% | 7.9 | 2.3% | |
| Non-current fixed term deposits | - | 0.0% | 20.0 | 5.9% | |
| Financial assets | 33.8 | 9.3% | 27.7 | 8.2% | |
| Non-current assets | 106.2 | 29.2% | 109.3 | 32.4% | |
| Assets | 364.1 | 100.0% | 337.8 | 100.0% | |
| Trade accounts payable | 26.3 | 7.2% | 19.5 | 5.8% | |
| Current financial liabilities | - | 0.0% | 0.6 | 0.2% | |
| Other current liabilities | 47.3 | 13.0% | 37.4 | 11.1% | |
| Current provisions | 4.4 | 1.2% | 5.3 | 1.6% | |
| Accruals | 54.4 | 14.9% | 56.3 | 16.7% | |
| Current liabilities | 132.4 | 36.4% | 119.1 | 35.3% | |
| Non-current provisions | 27.1 | 7.4% | 24.8 | 7.3% | |
| Non-current liabilities | 27.1 | 7.4% | 24.8 | 7.3% | |
| Liabilities | 159.5 | 43.8% | 143.9 | 42.6% | |
| Share capital | 2.5 | 0.7% | 2.5 | 0.7% | |
| Capital reserves | 32.1 | 8.8% | 31.6 | 9.4% | |
| Goodwill offset | -42.8 | -11.8% | -44.4 | -13.1% | |
| Retained earnings and translation differences | 214.3 | 58.9% | 205.8 | 60.9% | |
| Treasury shares | -2.2 | -0.6% | -1.7 | -0.5% | |
| Equity before non-controlling interests | 203.9 | 56.0% | 193.8 | 57.4% | |
| Non-controlling interests | 0.7 | 0.2% | 0.1 | 0.0% | |
| Equity | 204.6 | 56.2% | 193.9 | 57.4% | |
| Equity and liabilities | 364.1 | 100.0% | 337.8 | 100.0% |
* Restated (see note 5.1.5).
| in EUR million | 31.12.2022 | (%) | 31.12.2021* | (%) |
|---|
Cash Flow Statement
| in EUR million | 2022 | 2021* |
|---|---|---|
| Result for the period | 38.6 | 43.7 |
| Depreciation, amortization and impairment | 9.6 | 6.6 |
| Additions to or reversal (net) of provisions | 5.0 | 2.4 |
| Gain/loss on sale of assets | -0.5 | - |
| Other non–cash items | 2.2 | -1.9 |
| Change in accounts receivable | -19.0 | -10.9 |
| Change in other receivables | -5.3 | -4.2 |
| Change in inventories and work in progress | -27.0 | 8.3 |
| Change in prepaid expenses | -4.2 | -0.6 |
| Change in accounts payable | 6.8 | 7.1 |
| Change in other current liabilities | 10.0 | 21.2 |
| Change in provisions | -3.6 | -3.2 |
| Change in accruals | -2.2 | 11.1 |
| Net cash flow from operating activities | 10.4 | 79.6 |
| Purchase of property, plant and equipment | -14.2 | -7.0 |
| Sale of property, plant and equipment | 1.2 | 0.2 |
| Purchase of intangible assets | -4.6 | -2.8 |
| Change in current fixed term deposits | 42.7 | 4.0 |
| Purchase of non-current fixed term deposits | -11.0 | -25.0 |
| Purchase of financial assets | - | -16.0 |
| Change in other investments | -7.9 | -2.6 |
| Sale of subsidiary | -0.1 | - |
| Net cash flow from investing activities | 6.1 | -49.2 |
| Acquisition of treasury shares | -1.9 | - |
| Disposal of treasury shares | 1.5 | - |
| Change in current financial liabilities | 0.2 | 0.5 |
| Divident paid | -32.6 | -28.0 |
| Net cash flow from financing activities | -32.8 | -27.5 |
| Effect of currency translation differences on cash and cash equivalents |
1.6 | 2.8 |
| Net change in cash and cash equivalents | -14.7 | 5.7 |
| Cash and cash equivalents at 1 January | 85.9 | 80.2 |
| Cash and cash equivalents at 31 December | 71.2 | 85.9 |
| Net change in cash and cash equivalents | -14.7 | 5.7 |
* Restated (see note 5.1.5).
| in EUR million | 2022 | 2021* |
|---|
