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Kardex AG announces first key half-year figures for 2011

The Kardex Group is on the way to recovery. Bookings rose by a substantial 34% compared to the same period in the previous year, and were even up 23% against the second half of 2010. Adjusted for acquisitions, bookings increased by 25% in the first half. With an order backlog of EUR 156.8 million at the end of June, the order books are well filled compared to the lows reported on 30 June 2010 (EUR 129.6 million) and at the end of 2010 (EUR 130.0 million). Following a moderate start at the beginning of the year, revenues rose continually month for month and in June reached their highest levels in every division. Overall, net revenues of EUR 221.5 million (adjusted for the acquisition of Kardex Mlog EUR 188.1 million) were posted, which is 31.2% higher than in the corresponding year-back period (EUR 143.4 million) and almost 8% more than in the - traditionally stronger - second half of 2010. However, the higher volumes did not translate into operating profitability until as of the second quarter. The Group achieved total EBITDA of EUR 7.4 million in the first half of 2011 (previous year: EUR -0.5 million) and EBIT of EUR 0.5 million (previous year: EUR -6.7 million).


Seen from the present perspective, the market recovery is continuing across all divisions. According to management’s estimates, the results for the second half of the year should be higher than those for the first six months.


Kardex AG will be publishing the full interim report on 23 August 2011. At a forthcoming analysts‘ and media conference in Zurich, the Executive Committee will report in detail on the results for the first half as well as the outlook for the Group and the divisions.



Contact for media and investors:

Edwin van der Geest

Communication Consultant

Philipp Buhofer
Chairman of the Board of Directors

Tel. +41 (0)79 330 55 22



Calendar of events



23 August 2011

Interim Report 2011

29 March 2012

Annual Report 2011

24 April 2012

Annual General Meeting 2012




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