Kardex Holding AG Releases Half-Year Results 2024

Kardex Holding AG has reported its half-year results for 2024, highlighting significant growth across various metrics. Bookings rose by 12.9%, reaching EUR 382.8 million, while net revenues increased by 10.5%, amounting to EUR 369.7 million. Despite rising labor costs, the normalizing material expenses cushioned the impact, leading to an EBIT increase of 11.8% to EUR 48.2 million.

The company's gross profit margin improved to 34.4%, mainly due to eased supply chain conditions. Demand for Kardex’s intralogistics solutions remained strong, with New Business and Life Cycle Services seeing notable growth. The order backlog stood at EUR 488.3 million by mid-year.

The demand for Automated Products saw mixed results, while the sector of Standardized Systems experienced robust growth. Free cash flow rose markedly, and ROIC reached 39%. Kardex remains optimistic despite economic and geopolitical uncertainties, projecting stable results in line with their EBIT margin targets of 10-14%.