EQS-Adhoc

Kardex AG: Half Year Results 2015 / Strong development of the Kardex Group continues 2015

EQS Group-Ad-hoc: Kardex AG / Key word(s): Half Year Results
Kardex AG: Half Year Results 2015 / Strong development of the Kardex
Group continues 2015

13.08.2015 / 06:28
Release of an ad hoc announcement pursuant to Art. 53 KR.
The issuer is solely responsible for the content of this announcement.

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Media information - Half Year Results 2015

Zurich, 13 August 2015

Strong development of the Kardex Group continues in 2015

The financial year 2015 has started well, following on from the good second
half of 2014. Kardex Remstar is continuing on its dynamic growth path and
Kardex Mlog is recording profitable growth for the first time.

Significant currency effects
The half-year figures are influenced by significant currency effects. The
US dollar and the Swiss franc have both strengthened substantially against
the euro and therefore positively affected the consolidated turnover
expressed in euros. However, the aforementioned effects also led to
currency-related cost increases.

Double-digit growth and improved operating result
At EUR 180.5 million, the bookings reported by the Kardex Group were
substantially higher than in the same period in the previous year. This
equates to an increase of EUR 27.5 million or 18.0%. Currency adjusted,
this increase still amounts to 13.4%. The generated revenue of EUR 165.1
million was 12.2% higher than in the previous year, currency adjusted 7.3%
higher. The order backlog has increased in both divisions and, at EUR 128.2
million, is considerably above the level of the previous year (EUR 110.0
million).
In the course of this turnover growth, profitability rose
over-proportionately despite additional costs. The gross margin increased
to 33.7% (33.2%). The operative costs grew by 10.1%, but approximately one
third of which can be attributed to currency shifts. The operating result
rose by 26.4% to EUR 15.3 million (EUR 12.1 million), which equates to a
strong EBIT margin of 9.3% (8.2%). As a result of the improved financial
result, the currency gains and a higher but still relatively low tax rate,
a half-year profit of EUR 12.3 million was generated, up 30% on the
previous year. The return on capital employed (ROCE) reached 38.8% (31.1%).
Since the start of the year, the Group headcount increased by 1.3% or 19
full-time equivalents to 1 499 employees.

Positive development in both divisions
The Kardex Remstar division is continuing to experience dynamic growth.
Bookings and revenue were up by 11.9% and 11.2% respectively, or currency