Results and Presentations
Key Figures
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Key Figures
| 1.1.-31.12. (in EUR million) | 2020 | 2019 | +/ –% | ||
|---|---|---|---|---|---|
| Bookings | 416.8 | 100.9% | 452.4 | 96.0% | -7.9% |
| Order backlog (31.12.) | 220.2 | 53.3% | 217.8 | 46.2% | 1.1% |
| Net revenues | 412.9 | 100.0% | 471.2 | 100.0% | -12.4% |
| Gross profit | 153.0 | 37.1% | 171.3 | 36.4% | -10.7% |
| OPEX | 97.5 | 23.6% | 107.8 | 22.9% | -9.6% |
| EBITDA | 62.6 | 15.2% | 70.2 | 14.9% | -10.8% |
| Operating result (EBIT) | 55.5 | 13.4% | 63.5 | 13.5% | -12.6% |
| Result for the period (net profit) | 40.7 | 9.9% | 44.9 | 9.5% | -9.4% |
| Net cash flow from operating activities | 49.8 | 44.8 | 11.2% | ||
| Free cash flow | 25.2 | 30.8 | -18.2% | ||
| ROCE | 43.7% | 51.2% |
| 1.1.-31.12. (in EUR million) | 2020 | 2019 | +/ –% | ||
|---|---|---|---|---|---|
| 31.12.2020 | 31.12.2019 | +/-% | |||
| Net working capital | 67.9 | 77.3 | -12.2% | ||
| Net cash | 122.3 | 133.6 | -8.5% | ||
| Equity/Equity ratio | 174.3 | 62.9% | 172.0 | 59.4% | 1.3% |
| Employees (FTE) | 1 860 | 1 913 | -2.8% | ||
| 2020 | 2019 | +/-% | |||
| Distribution per share (CHF)¹ | 4.00 | 4.50 | -11.1% |
1 2020: Distribution of a dividend as proposed to the Annual General Meeting to be held on 15 April 2021.
Income Statement
| in EUR million | 2020 | (%) | 2019 | (%) |
|---|---|---|---|---|
| Net revenues | 412.9 | 100.0% | 471.2 | 100.0% |
| Cost of goods sold and services provided | -259.9 | -62.9% | -299.9 | -63.6% |
| Gross profit | 153.0 | 37.1% | 171.3 | 36.4% |
| Sales and marketing expenses | -49.0 | -11.9% | -58.3 | -12.4% |
| Administrative expenses | -35.4 | -8.6% | -37.9 | -8.0% |
| R&D expenses | -11.0 | -2.7% | -11.3 | -2.4% |
| Other operating income | 0.6 | 0.1% | 1.3 | 0.3% |
| Other operating expenses | -2.7 | -0.7% | -1.6 | -0.3% |
| Operating result (EBIT) | 55.5 | 13.4% | 63.5 | 13.5% |
| Financial result, net | -1.9 | -0.5% | -3.3 | -0.7% |
| Result for the period before tax (EBT) | 53.6 | 13.0% | 60.2 | 12.8% |
| Income tax expense | -12.9 | -3.1% | -15.3 | -3.2% |
| Income tax rate (based on EBT) | 24.1% | 25.4% | ||
| Result for the period | 40.7 | 9.9% | 44.9 | 9.5% |
Attributable to:
| in EUR million | 2020 | (%) | 2019 | (%) |
|---|---|---|---|---|
| Shareholders of Kardex Holding AG | 40.7 | 9.9% | 44.4 | 9.4% |
| Minority interests | - | 0.0% | 0.5 | 0.1% |
| Result for the period | 40.7 | 9.9% | 44.9 | 9.5% |
| Earnings per share attributable to shareholders (EUR)¹ | 5.28 | 5.75 |
1 No dilutive effect occurred in 2020 and 2019.
Balance Sheet
| in EUR million | 31.12.2020 | (%) | 31.12.2019 | (%) |
|---|---|---|---|---|
| Cash and cash equivalents | 122.4 | 44.1% | 133.6 | 46.1% |
| Trade accounts receivable | 49.0 | 17.7% | 65.4 | 22.6% |
| Other receivables | 22.9 | 8.3% | 15.4 | 5.3% |
| Inventories and work in progress | 14.8 | 5.3% | 19.2 | 6.6% |
| Prepaid expenses | 3.4 | 1.2% | 4.3 | 1.5% |
| Current assets | 212.5 | 76.6% | 237.9 | 82.1% |
| Property, plant and equipment | 50.7 | 18.3% | 41.2 | 14.2% |
| Intangible assets | 6.0 | 2.2% | 4.1 | 1.4% |
| Financial assets | 8.1 | 2.9% | 6.6 | 2.3% |
| Non-current assets | 64.8 | 23.4% | 51.9 | 17.9% |
| Assets | 277.3 | 100.0% | 289.8 | 100.0% |
| Trade accounts payable | 12.1 | 4.4% | 17.3 | 6.0% |
| Current financial liabilities | 0.1 | 0.0% | - | 0.0% |
| Other current liabilities | 15.6 | 5.6% | 19.2 | 6.6% |
| Current provisions | 9.4 | 3.4% | 6.0 | 2.1% |
| Accruals | 44.3 | 16.0% | 54.7 | 18.9% |
| Current liabilities | 81.5 | 29.4% | 97.2 | 33.5% |
| Non-current provisions | 21.5 | 7.8% | 20.6 | 7.1% |
| Non-current liabilities | 21.5 | 7.8% | 20.6 | 7.1% |
| Liabilities | 103.0 | 37.1% | 117.8 | 40.6% |
| Share capital | 2.5 | 0.9% | 2.5 | 0.9% |
| Capital reserves | 31.4 | 11.3% | 31.3 | 10.8% |
| Retained earnings and translation differences | 141.9 | 51.2% | 138.7 | 47.9% |
| Treasury shares | -1.9 | -0.7% | -1.0 | -0.3% |
| Equity before minorities | 173.9 | 62.7% | 171.5 | 59.2% |
| Minority interests | 0.4 | 0.1% | 0.5 | 0.2% |
| Equity | 174.3 | 62.9% | 172.0 | 59.4% |
| Equity and liabilities | 277.3 | 100.0% | 289.8 | 100.0% |
| in EUR million | 31.12.2020 | (%) | 31.12.2019 | (%) |
|---|
Cash Flow Statement
| in EUR million | 2020 | (%) | 2019 | (%) |
|---|---|---|---|---|
| Result for the period | 40.7 | 161.5% | 44.9 | 145.8% |
| Depreciation and amortization | 7.1 | 28.2% | 6.7 | 21.8% |
| Additions or reversal (net) of provisions | 6.7 | 26.6% | 6.2 | 20.1% |
| Other non–cash items | 4.0 | 15.9% | -0.7 | -2.3% |
| Change in accounts receivable | 14.7 | 58.3% | -0.2 | -0.6% |
| Change in other receivables | -6.9 | -27.4% | -4.2 | -13.6% |
| Change in inventories and work in progress | 1.4 | 5.6% | -3.7 | -12.0% |
| Change in prepaid expenses | 0.6 | 2.4% | 0.4 | 1.3% |
| Change in accounts payable | -2.9 | -11.5% | -0.2 | -0.6% |
| Change in other current liabilities | -3.9 | -15.5% | -5.9 | -19.2% |
| Change in provisions | -2.3 | -9.1% | -3.9 | -12.7% |
| Change in accruals | -9.4 | -37.3% | 5.4 | 17.5% |
| Net cash flow from operating activities | 49.8 | 197.6% | 44.8 | 145.5% |
| Purchase of property, plant and equipment | -18.8 | -74.6% | -11.7 | -38.0% |
| Sale of property, plant and equipment | 0.1 | 0.4% | - | 0.0% |
| Purchase of intangible assets | -3.2 | -12.7% | -2.3 | -7.5% |
| Purchase of financial assets | -0.8 | -3.2% | - | 0.0% |
| Acquisition of organizations and investment in associated companies | -1.9 | -7.5% | - | 0.0% |
| Net cash flow from investing activities | -24.6 | -97.6% | -14.0 | -45.5% |
| Free cash flow | 25.2 | 100.0% | 30.8 | 100.0% |
| Acquisition of treasury shares | -1.0 | -4.0% | - | 0.0% |
| Disposal of treasury shares | - | 0.0% | 0.2 | 0.6% |
| Divident paid | -32.9 | -130.6% | -27.6 | -89.6% |
| Net cash flow from financing activities | -33.9 | -134.5% | -27.4 | -89.0% |
| Effect of currency translation differences on cash and cash equivalents | -2.5 | -9.9% | 1.0 | 3.2% |
| Net change in cash and cash equivalents | -11.2 | -44.4% | 4.4 | 14.3% |
| Cash and cash equivalents at 1 January | 133.6 | 129.2 | ||
| Cash and cash equivalents at 31 December | 122.4 | 133.6 | ||
| Net change in cash and cash equivalents | -11.2 | -44.4 | 4.4 | 14.3% |
| in EUR million | 2020 | (%) | 2019 | (%) |
|---|
