In those business divisions in which it is continuing operations – KRM
(Dynamic Storage and Retrieval Systems) and Stow (Static Storage
Systems) – the Kardex Group generated a significant increase in
consolidated sales in 2006, up by 16.2% from EUR 326.2 million to EUR
379.1 million. At EUR 18.6 million, the operating result (EBIT) of those
business divisions was slightly ahead of the previous year's figure
(EUR 18.3 million), which reduced the EBIT margin from 5.6% to 4.9%. The
lower EBIT margin was due to start-up problems at the new Stow works,
steel price increases that could not be passed on to the market straight
away, and heavy capital investment in the Sales & Marketing
organization – especially at KRM.
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