Results and Presentations

Key Figures

1.1.-30.6. (in EUR million)		2021		2020	+/ –%
Bookings	302.5	146.1%	200.1	96.3%	51.2%
Order backlog (30.6.)	313.4	151.3%	210.9	101.5%	48.6%
Net revenues	207.1	100.0%	207.8	100.0%	-0.3%
Gross profit	75.2	36.3%	71.8	34.6%	4.7%
OPEX	48.3	23.3%	47.8	23.0%	1.0%
EBITDA	30.2	14.6%	27.2	13.1%	11.0%
Operating result (EBIT)	26.9	13.0%	24.0	11.5%	12.1%
Result for the period (net profit)	19.6	9.5%	17.1	8.2%	14.6%
Net cash flow from operating activities	24.7		26.3		-6.1%
Free cash flow	25.8		10.0		158.0%
ROCE	36.8%		47.2%		-22.0%

1.1.-30.6. (in EUR million)		2021		2020	+/ –%
		30.6.2021		30.6.2020	+/-%
Net working capital	56.9		67.4		-15.6%
Net cash	121.0		109.1		10.9%
Equity/Equity ratio	166.6	56.7%	153.3	57.8%	8.7%
Employees (FTE)	1 870		1 906		-1.9%

in EUR million	1.1.-30.6.2021	(%)	1.1.-30.6.2020	(%)
Net revenues	207.1	100.0%	207.8	100.0%
Cost of goods sold and services provided	-131.9	-63.7%	-136.0	-65.4%
Gross profit	75.2	36.3%	71.8	34.6%

Sales and marketing expenses	-24.5	-11.8%	-25.0	-12.0%
Administrative expenses	-18.1	-8.7%	-16.5	-7.9%
R&D expenses	-6.0	-2.9%	-5.4	-2.6%
Other operating income	0.5	0.2%	0.3	0.1%
Other operating expenses	-0.2	-0.1%	-1.2	-0.6%
Operating result (EBIT)	26.9	13.0%	24.0	11.5%

Financial result, net	-1.0	-0.5%	-1.4	-0.7%

Result for the period before tax (EBT)	25.9	12.5%	22.6	10.9%

Income tax expense	-6.3	-3.0%	-5.5	-2.6%
Income tax rate (based on EBT)		24.3%		24.3%

Result for the period	19.6	9.5%	17.1	8.2%

Attributable to:

in EUR million	1.1.-30.6.2021	(%)	1.1.-30.6.2020	(%)
Shareholders of Kardex Holding AG	19.7	9.5%	17.0	8.2%
Minority interests	-0.1	0.0%	0.1	0.0%
Result for the period	19.6	9.5%	17.1	8.2%

Earnings per share attributable to shareholders (EUR)¹	2.56		2.21

¹ No dilutive effect occurred in 2021 and 2020.

in EUR million	30.6.2021	(%)	31.12.2020	(%)
Cash and cash equivalents	75.3	25.6%	122.4	44.1%
Trade accounts receivable	49.0	16.7%	49.0	17.7%
Other receivables	42.8	14.6%	22.9	8.3%
Inventories and work in progress	13.6	4.6%	14.8	5.3%
Prepaid expenses	4.7	1.6%	3.4	1.2%
Current assets	185.4	63.1%	212.5	76.6%

Property, plant and equipment	51.1	17.4%	50.7	18.3%
Intangible assets	6.9	2.3%	6.0	2.2%
Financial assets	50.4	17.2%	8.1	2.9%
Non-current assets	108.4	36.9%	64.8	23.4%
Assets	293.8	100.0%	277.3	100.0%

Trade accounts payable	14.7	5.0%	12.1	4.4%
Current financial liabilities	0.3	0.1%	0.1	0.0%
Other current liabilities	21.3	7.2%	15.6	5.6%
Current provisions	9.1	3.1%	9.4	3.4%
Accruals	59.5	20.3%	44.3	16.0%
Current liabilities	104.9	35.7%	81.5	29.4%

Non-current provisions	22.3	7.6%	21.5	7.8%
Non-current liabilities	22.3	7.6%	21.5	7.8%
Liabilities	127.2	43.3%	103.0	37.1%

Share capital	2.5	0.9%	2.5	0.9%
Capital reserves	31.4	10.7%	31.4	11.3%
Retained earnings and translation differences	134.4	45.7%	141.9	51.2%
Treasury shares	-1.9	-0.6%	-1.9	-0.7%
Equity before minorities	166.4	56.6%	173.9	62.7%
Minority interests	0.2	0.1%	0.4	0.1%
Equity	166.6	56.7%	174.3	62.9%
Equity and liabilities	293.8	100.0%	277.3	100.0%

in EUR million	30.6.2021	(%)	31.12.2020	(%)

in EUR million	1.1.-30.6.2021	1.1.-30.6.2020
Result for the period	19.6	17.1
Depreciation and amortization	3.3	3.2
Additions or reversal (net) of provisions	3.0	5.5
Other non–cash items	-1.9	2.2
Change in accounts receivable	0.4	16.1
Change in other receivables	-19.7	-3.9
Change in inventories and work in progress	1.3	-2.4
Change in prepaid expenses	-1.1	-0.1
Change in accounts payable	2.5	-3.8
Change in other current liabilities	5.1	-0.9
Change in provisions	-2.6	-1.4
Change in accruals	14.8	-5.3
Net cash flow from operating activities	24.7	26.3

Purchase of property, plant and equipment	-2.3	-12.5
Purchase of intangible assets	-1.4	-1.8
Purchase of financial assets	-40.1	-
Change in other investments	-1.1	-0.1
Acquisition of organizations	-	-1.9
Net cash flow from investing activities	-44.9	-16.3

Acquisition of treasury shares	-	-1.0
Change in current financial liabilities	0.3	-
Divident paid	-28.0	-32.8
Net cash flow from financing activities	-27.7	-33.8

Effect of currency translation differences on cash and cash equivalents	0.8	-0.6
Net change in cash and cash equivalents	-47.1	-24.4

Cash and cash equivalents at 1 January	122.4	133.6
Cash and cash equivalents at 30 June	75.3	109.2
Net change in cash and cash equivalents	-47.1	-24.4