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Kardex AG announces initial key figures for 2011

The Kardex Group returned to profitability in 2011. Bookings increased by a significant 23% compared with the year-earlier figure (EUR 391 million) to EUR 480 million (adjusted for acquisitions 15%). At EUR 149 million, the order books were also well filled at the end of the year under review compared with 31 December 2010 (EUR 130.0 million).

Following a still muted business performance at the beginning of the year, revenues rose continually to reach satisfactory levels at the end of the period. Net revenues totalling around EUR 459 million were generated, corresponding to a year-on-year increase of 29%. Adjusted for acquisitions, growth was 23%.


After a challenging start to the year, the Kardex Group returned to profitability at EBIT level as early as the second quarter on the back of higher volumes. In the second half, despite one-off restructuring and refinancing charges, the Group was back in the profit zone for the year as a whole. Thanks to the successful capital increase in September 2011, year-end Group net debt was down to around EUR 15 million. Following the switch in accounting standards from IFRS to Swiss GAAP ARR, the equity ratio came to approximately 25%.


From the present perspective, the outlook for financial year 2012 is good in all of the Group’s divisions. However, management also has suitable measures in place to respond fast to a worsening of the economic environment.


Kardex AG will be publishing the full annual report on 29 March 2012. At a forthcoming analysts’ and media conference in Zurich, the company will report in detail on the results as well as the outlook for the Group and the divisions.


Contact for media and investors:

Edwin van der Geest

Investor Relations


Tel. +41 79 330 55 22




Calendar of events


29 March 2012

Annual Report 2011

24 April 2012

Annual General Meeting 2012






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