Full Year 2025 Kardex Holding AG Earnings Call Transcript
Key Points
- Kardex Holding AG (XSWX:KARN) achieved all-time high bookings, net revenues, and EBIT numbers in 2025 despite a challenging market environment.
- The company increased bookings by more than 24%, nearly reaching the EUR1 billion mark for the first time.
- Kardex Holding AG made substantial investments in strategic growth initiatives, focusing on sales, marketing, innovation, and digitalization.
- The acquisition of Rocket Solutions is expected to enhance Kardex's solution portfolio, particularly in handling light goods with multi-shuttle solutions.
- The company proposed a dividend payment of CHF6 per share, maintaining the same level as in 2024, reflecting strong financial results.
- Net revenues increased by only 7.5% in 2025, indicating a lag in transforming bookings into revenues.
- Free cash flow dropped significantly to EUR20.5 million compared to the previous year due to increased net working capital and CapEx.
- The EBIT margin slightly decreased to 11.9%, affected by higher personnel expenses and a shift in sales mix.
- The acquisition of Rocket Solutions led to a technical full write-off of a EUR39 million loan, impacting financial results.
- The US market showed weaker order momentum for Kardex Remstar in the second half of 2025, affecting overall performance.
Good afternoon, ladies and gentlemen. I welcome you to our presentation of the Kardex annual results 2025. My name is Alex Muller. 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 annual results.
I would like to remind you that all the slides from the presentation as well as the press release and the annual report are all on our website.
And with that, I would like to hand over to you, Jens.
Thanks a lot, Alex. Yeah. Dear ladies and gentlemen, also from my side, a warm welcome to the Kardex media and analyst conference for the year-end results of 2025.
Let me start with our key message. We are happy with the full year 2025 results. In a difficult market environment with geopolitical tensions and trade uncertainties, Kardex reached all-time high bookings, net revenues, and EBIT
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