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

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