Results and Presentations
Key Figures
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Key Figures
| 1.1.-31.12. (in EUR million) | 2021 | 2020 | +/ –% | ||
|---|---|---|---|---|---|
| Bookings | 603.0 | 132.4% | 416.8 | 100.9% | 44.7% |
| Order backlog (31.12.) | 366.6 | 80.5% | 220.2 | 53.3% | 66.5% |
| Net revenues | 455.5 | 100.0% | 412.9 | 100.0% | 10.3% |
| Gross profit | 163.3 | 35.9% | 153.0 | 37.1% | 6.7% |
| OPEX | 102.2 | 22.4% | 97.5 | 23.6% | 4.8% |
| EBITDA | 67.7 | 14.9% | 62.6 | 15.2% | 8.1% |
| Operating result (EBIT) | 61.1 | 13.4% | 55.5 | 13.4% | 10.1% |
| Result for the period (net profit) | 43.7 | 9.6% | 40.7 | 9.9% | 7.4% |
| Net cash flow from operating activities | 38.6 | 49.8 | -22.5% | ||
| Free cash flow | 51.4 | 25.2 | 104.0% | ||
| ROIC | 32.7% | 31.4% |
| 1.1.-31.12. (in EUR million) | 2021 | 2020 | +/ –% | ||
|---|---|---|---|---|---|
| 31.12.2021 | 31.12.2020 | +/-% | |||
| Net working capital | 44.1 | 67.9 | -35.1% | ||
| Net cash | 148.5 | 122.3 | 21.4% | ||
| Equity/Equity ratio | 193.9 | 57.4% | 174.3 | 62.9% | 11.2% |
| Employees (FTE) | 1'996 | 1'860 | 5.7% | ||
| Distribution per share (CHF) | 4.30 | 4.00 | 7.5% |
Income Statement
| in EUR million | 2021 | (%) | 2020 | (%) |
|---|---|---|---|---|
| Net revenues | 455.5 | 100.0% | 412.9 | 100.0% |
| Cost of goods sold and services provided | -292.2 | -64.1% | -259.9 | -62.9% |
| Gross profit | 163.3 | 35.9% | 153.0 | 37.1% |
| Sales and marketing expenses | -53.3 | -11.7% | -49.0 | -11.9% |
| Administrative expenses | -37.6 | -8.3% | -35.4 | -8.6% |
| R&D expenses | -12.0 | -2.6% | -11.0 | -2.7% |
| Other operating income | 1.4 | 0.3% | 0.6 | 0.1% |
| Other operating expenses | -0.7 | -0.2% | -2.7 | -0.7% |
| Operating result (EBIT) | 61.1 | 13.4% | 55.5 | 13.4% |
| Financial result, net | -1.5 | -0.3% | -1.9 | -0.5% |
| Result for the period before tax (EBT) | 59.6 | 13.1% | 53.6 | 13.0% |
| Income tax expense | -15.9 | -3.5% | -12.9 | -3.1% |
| Income tax rate (based on EBT) | 26.7% | 24.1% | ||
| Result for the period | 43.7 | 9.6% | 40.7 | 9.9% |
Attributable to:
| in EUR million | 2021 | (%) | 2020 | (%) |
|---|---|---|---|---|
| Shareholders of Kardex Holding AG | 43.9 | 9.6% | 40.7 | 9.9% |
| Minority interests | -0.2 | 0.0% | - | 0.0% |
| Result for the period | 43.7 | 9.6% | 40.7 | 9.9% |
| Earnings per share attributable to shareholders of Kardex Holding AG (EUR) | 5.69 | 5.28 |
Balance Sheet
| in EUR million | 31.12.2021 | (%) | 31.12.2020 | (%) |
|---|---|---|---|---|
| Cash and cash equivalents | 88.1 | 26.1% | 122.4 | 44.1% |
| Trade accounts receivable | 61.3 | 18.1% | 49.0 | 17.7% |
| Other receivables and current financial assets | 68.3 | 20.2% | 22.9 | 8.3% |
| Inventories and work in progress | 6.5 | 1.9% | 14.8 | 5.3% |
| Prepaid expenses | 4.3 | 1.3% | 3.4 | 1.2% |
| Current assets | 228.5 | 67.6% | 212.5 | 76.6% |
| Property, plant and equipment | 53.7 | 15.9% | 50.7 | 18.3% |
| Intangible assets | 7.9 | 2.3% | 6.0 | 2.2% |
| Financial assets | 47.7 | 14.1% | 8.1 | 2.9% |
| Non-current assets | 109.3 | 32.4% | 64.8 | 23.4% |
| Assets | 337.8 | 100.0% | 277.3 | 100.0% |
| Trade accounts payable | 19.5 | 5.8% | 12.1 | 4.4% |
| Current financial liabilities | 0.6 | 0.2% | 0.1 | 0.0% |
| Other current liabilities | 37.4 | 11.1% | 15.6 | 5.6% |
| Current provisions | 5.3 | 1.6% | 9.4 | 3.4% |
| Accruals | 56.3 | 16.7% | 44.3 | 16.0% |
| Current liabilities | 119.1 | 35.3% | 81.5 | 29.4% |
| Non-current provisions | 24.8 | 7.3% | 21.5 | 7.8% |
| Non-current liabilities | 24.8 | 7.3% | 21.5 | 7.8% |
| Liabilities | 143.9 | 42.6% | 103.0 | 37.1% |
| Share capital | 2.5 | 0.7% | 2.5 | 0.9% |
| Capital reserves | 31.6 | 9.4% | 31.4 | 11.3% |
| Retained earnings and translation differences | 161.4 | 47.8% | 141.9 | 51.2% |
| Treasury shares | -1.7 | -0.5% | -1.9 | -0.7% |
| Equity before minorities | 193.8 | 57.4% | 173.9 | 62.7% |
| Minority interests | 0.1 | 0.0% | 0.4 | 0.1% |
| Equity | 193.9 | 57.4% | 174.3 | 62.9% |
| Equity and liabilities | 337.8 | 100.0% | 277.3 | 100.0% |
| in EUR million | 31.12.2021 | (%) | 31.12.2020 | (%) |
|---|
Cash Flow Statement
| in EUR million | 2021 | 2020 |
|---|---|---|
| Result for the period | 43.7 | 40.7 |
| Depreciation and amortization | 6.6 | 7.1 |
| Additions or reversal (net) of provisions | 2.4 | 6.7 |
| Other non–cash items | -1.9 | 4.0 |
| Change in accounts receivable | -10.9 | 14.7 |
| Change in other receivables | -45.2 | -6.9 |
| Change in inventories and work in progress | 8.3 | 1.4 |
| Change in prepaid expenses | -0.6 | 0.6 |
| Change in accounts payable | 7.1 | -2.9 |
| Change in other current liabilities | 21.2 | -3.9 |
| Change in provisions | -3.2 | -2.3 |
| Change in accruals | 11.1 | -9.4 |
| Net cash flow from operating activities | 38.6 | 49.8 |
| Purchase of property, plant and equipment | -7.0 | -18.8 |
| Sale of property, plant and equipment | 0.2 | 0.1 |
| Purchase of intangible assets | -2.8 | -3.2 |
| Purchase of financial assets | -41.0 | - |
| Sale of financial assets | 5.0 | - |
| Change in other investments | -2.6 | -0.8 |
| Acquisition of organizations | - | -1.9 |
| Net cash flow from investing activities | -48.2 | -24.6 |
| Acquisition of treasury shares | - | -1.0 |
| Change in current financial liabilities | 0.5 | - |
| Divident paid | -28.0 | -32.9 |
| Net cash flow from financing activities | -27.5 | -33.9 |
| Effect of currency translation differences on cash and cash equivalents | 2.8 | -2.5 |
| Net change in cash and cash equivalents | -34.3 | -11.2 |
| Cash and cash equivalents at 1 January | 122.4 | 133.6 |
| Cash and cash equivalents at 31 December | 88.1 | 122.4 |
| Net change in cash and cash equivalents | -34.3 | -11.2 |
| in EUR million | 2021 | 2020 |
|---|
