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Kardex Holding (KARN) investor relations material
Kardex Holding H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Bookings rose 18.7% year-over-year to EUR 454.3 million, with strong demand across regions, especially Central Europe, and normalized decision-making for large projects despite geopolitical and trade uncertainties.
Net revenues increased 12.4% year-over-year to EUR 415.7 million, driven by growth in Standardized Systems.
EBIT grew 1.5% to EUR 48.9 million, with margin at 11.8%, reflecting significant investments in R&D, IT, and sales & marketing.
Net profit declined 5.7% year-over-year to EUR 36.1 million due to lower financial income.
Return on invested capital remained strong at 37.6%.
Financial highlights
Gross profit rose 11.5% year-over-year to EUR 141.9 million, with gross margin at 34.1%.
Free cash flow dropped to EUR 8.4 million from EUR 56.0 million, mainly due to increased NWC, higher CAPEX, and dividend payout.
Equity ratio stood at 53.3% as of 30 June 2025, down from 57.7% at year-end 2024.
Net cash position was EUR 125.8 million, down from EUR 137.4 million a year earlier.
EBITDA rose 1.9% to EUR 54.1 million; EBIT margin was 11.8%.
Outlook and guidance
Anticipates a stronger H2 2025 in bookings, net revenues, and EBIT, expecting to meet communicated financial targets.
Ongoing investments in sales, marketing, R&D, and IT to support profitable growth and market outperformance.
Positive market sentiment expected, driven by reshoring, labor shortages, and automation megatrends.
Confident in achieving results in line with communicated financial targets.
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