Kardex AG / Key word(s): Interim Report
18.12.2012 06:00
Release of an ad hoc announcement pursuant to Art. 53 KR
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Media information
Zurich, 18 December 2012
Kardex Group
Interim report on the future of Kardex Stow
Kardex Stow continues to perform well and is further expanding its presence
in selected markets. In doing so, the company benefits from its products'
strong market position, the ongoing expansion of its product range and the
continuing extension of cooperation with strong OEM and key account
partners such as Jungheinrich and Ikea. Moreover, the operational measures
initiated 18 months ago have brought about a lasting improvement in the
Division's key financial figures. With an EBIT margin of around 5% and ROCE
significantly in excess of 15%, Kardex Stow is well placed for the future
and a potential remain in the Kardex Group.
Despite this pleasing performance - and parallel to it - the Board of
Directors of Kardex AG and management of Kardex Stow have, in the last 12
months, been reviewing all the strategic options that would give Kardex
Stow an even better opportunity for development. Over recent months,
therefore, a merger with an industrial partner that possesses a
geographical network which is complementary to Kardex Stow's has been
analyzed and worked out. The associated due diligence procedures and
valuations are to a large extent completed. Still open is the financing of
the transaction which has to be secured by the industrial partner and some
contractual issues. In view of this, contract closure is unlikely by the
end of 2012. Should the industrial partner fail to secure the financing
until April 2013, the Board of Directors of Kardex AG will opt to retain
the Division within the Group.
Contact for media and investors:
Edwin van der Geest
Investor Relations investor-
relations@kardex.com
Tel. +41 79 330 55 22
www.kardex.com
Calendar of events
14 March 2013
Annual Report 2012, Analysts' and
Media Conference
25 April 2013
Annual General Meeting 2013
Kardex Group - Corporate Profile
The Kardex Group is a leading supplier of static and automated storage
solutions and materials handling systems. It consists of the three
corporate divisions Kardex Remstar, Kardex Stow and Kardex Mlog. Kardex
Remstar develops, produces and maintains dynamic storage and retrieval
systems, Kardex Stow static storage systems, shuttles and automated mobile
shelving systems and Kardex Mlog integrated materials handling systems and
automated high-bay warehouses. All divisions are partners for their
customers over the entire lifecycle of a product or solution. This starts
with an assessment of customer requirements and continues via the planning,
realization and implementation of customer-specific systems through to
ensuring a high level of availability and low lifecycle costs by means of
customer-oriented lifecycle management. More than 2 000 employees in over
30 countries worldwide work for the companies of the Kardex Group.
Disclaimer
This communication contains statements that constitute 'forward-looking
statements'. In this communication, such forward-looking statements
include, without limitation, statements relating to our financial
condition, results of operations and business and certain of our strategic
plans and objectives. Because these forward-looking statements are subject
to risks and uncertainties, actual future results may differ materially
from those expressed in or implied by the statements. Many of these risks
and uncertainties relate to factors which are beyond Kardex's ability to
control or estimate precisely, such as future market conditions, currency
fluctuations, the behavior of other market participants, the actions of
governmental regulators and other risk factors detailed in Kardex's past
and future filings and reports and in past and future filings, press
releases, reports and other information posted on Kardex Group companies'
websites. Readers are cautioned not to put undue reliance on
forward-looking statements, which speak only of the date of this
communication. Kardex disclaims any intention or obligation to update and
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
18.12.2012 News transmitted by EquityStory AG.
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Language: English
Company: Kardex AG
Thurgauerstrasse 40
8050 Zürich
Switzerland
Phone: +41 (0)44 419 44 44
Fax: +41 (0)44 419 44 17
E-mail: info@kardex.com
Internet: www.kardex.com
ISIN: CH0100837282
Swiss Security Number: A0RMWK
Listed: Freiverkehr in Berlin, München, Stuttgart; Open
Market in Frankfurt; SIX
End of Announcement EquityStory News-Service
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