Kendrion (KENDR) CMD 2026 summary

Strategic transformation and market focus

• Completed pivot to a focused industrial motion and control specialist, targeting four secular growth markets: Robotics & Automation, Healthcare & MedTech, Energy & Transmission Infrastructure, and Integrated Industrial Safety Systems.

• Portfolio now consists of two balanced, profitable industrial businesses (Industrial Brakes and Industrial Actuators and Controls), with mobility activities being phased out but still generating cash.

• 90% of industrial revenue is derived from selected growth markets, with a strong European presence, especially in Germany and Romania.

• Strategic pivot away from commodity volume and key account dependency, now emphasizing niche applications and cross-functional agile teams to drive opportunity pipeline growth.

• Products are mission-critical, enabling value-based pricing, long-term customer relationships, and advanced IP.

Market opportunities, trends, and product innovation

• Robotics & Automation is the largest segment, with EUR 120 million in 2025 revenue, driven by automation, reshoring, and AI; product content per robot and performance requirements are rising.

• Healthcare & MedTech focus on medical fluid control and surgical robotics, with high regulatory barriers and strong growth (fluid management and surgical robotics markets growing at 13%-17% and 15% CAGR, respectively).

• Energy & Transmission Infrastructure benefits from grid modernization, electrification, and renewable integration, with critical components supplied for high-voltage circuit breakers and wind turbines; global power grid market growing at 6.8% CAGR.

• Integrated Industrial Safety Systems market expanding due to stricter regulations and cybersecurity requirements, with a 7% CAGR and products including safety PLCs and locking mechanisms.

• Eight new products planned by 2030 across three technology fields, including innovations like the Slim PM Line and Halo Line for robotics and cobots.

Business group strategies and operational changes

• Industrial Brakes revenue increased by 8% in HY1 2026, with a 54.5% added value margin, driven by portfolio optimization, procurement improvements, and pricing actions.

• Active IB business opportunities more than doubled from 96 in 2024 to 224 in 2026, with a shift to niche applications and structured pricing.

• Industrial Actuators and Controls revenue grew by 1% in HY1 2026, with a 63.5% added value margin and a 10% increase in active opportunities, led by Robotics & Automation and MedTech.

• Product innovation includes early development of servo brakes, cobot brakes, and medical brakes, often before formal customer requirements exist.

• Both divisions have capacity for growth, with flexible expansion in Romania and automation in German plants.