Half Year 2026 Kardex Holding AG Earnings Call Transcript
Key Points
- Bookings increased by 20.8% to EUR571.5 million, reaching a new record level for a first-half period.
- Order backlog reached a record high of EUR727.2 million, providing strong visibility for the second half of the year.
- Standardized Systems segment saw a 61% increase in bookings, driven by strong demand for Kardex AS Solutions.
- The company won its largest AutoStore project in France, valued between EUR25 million and EUR30 million.
- Management confirmed its midterm financial targets for 2029-2031, including a group EBIT margin target of 10% to 14%.
- EBIT declined sharply by 40% to EUR30.1 million, with the EBIT margin falling to 6.8%, well below expectations.
- Automated Products segment experienced an 11% decline in net revenues due to a weak order backlog and underutilized factories.
- The gross profit margin decreased from 34.1% to 30%, impacted by a shift in sales mix toward lower-margin standardized systems.
- Rocket Solutions continued to be a drag on profitability, with breakeven not expected until 2027.
- The company issued a profit warning, lowering its full-year 2026 EBIT margin guidance to 8%-10%, below the original target range.
So good morning, ladies and gentlemen. I welcome you to our presentation of Kardex half-year results 2026. My name is Alex Mueller; I'm responsible for Investor Relations. And I'm joined by Jens Hardenacke, our Group CEO; and Thomas Reist, our Group CFO, who will present the half-year figures.
After the presentation, we will have the Q&A session. And I would also like to remind you that the slides from today's presentation, as well as our press release and the half-year reports, are all available on our website.
And with that, I would like to hand over to Jens, please.
Thanks a lot, Alex. Dear ladies and gentlemen, also from my side, a warm welcome to the Kardex media and analyst conference for the first half of the year 2026. Let me start with our key message.
The first six months of 2026 were mixed. On the one hand, we are clearly not satisfied with our profitability
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