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Kardex Group posts record result in financial year 2008

Much improved result – balance sheet and equity basis strengthened decisively – proposal for par value reduction of CHF 2.50 per share.

Financial year 2008 saw the Kardex Group increase its net revenues by 8.9% to EUR 460.0 million (2007: EUR 422.5 million). Adjusted for exchange rate effects the increase amounted to 9.6%. At EUR 449.2 million, bookings were up by 3.0% on the previous year (EUR 436.2 million). At the end of the financial year, Kardex Group had sound order books of EUR 99.4 million (EUR 107.8 million). Despite an increase in investment in marketing and distribution, the operating result (EBIT) was lifted by 20.2% to EUR 42.3 million (EUR 35.2 million); the EBIT margin rose to 9.2% (8.3%). In financial year 2008, the Group’s result stood at EUR 33.0 million (EUR 21.8 million). The Board of Directors will submit a proposal to the Annual General Meeting on April 21, 2009, to reduce the par value by CHF 2.50 per share (to CHF 11.00).

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