Kardex Holding Ag · SIX:KARN
Kardex — H1 2026 Earnings Presentation
22 slides from Kardex's earnings presentation, Jul 30, 2026
Slide 1: Media and Analysts Conference H1 2026
Media and Analysts Conference H1 2026 30 July 2026
Slide 2: Agenda
Agenda Introduction Jens Hardenacke, CEO Financials H1 2026 Thomas Reist, CFO Segment Reports Thomas Reist, CFO Outlook Jens Hardenacke, CEO Questions and Answers Media and Analysts Conference - H1 2026 30.07.2026 2
Slide 3: Introduction
Introduction Jens Hardenacke, CEO Media and Analysts Conference - H1 2026 30.07.2026 3
Slide 4: Highlights and Key Achievements 1st Half Year 2026
Highlights and Key Achievements 1st Half Year 2026 Ongoing positive demand for Kardex’ intralogistics solutions despite geopolitical tensions and trade uncertainties Bookings rise by 25.8% to EUR 571.5 million, driven primarily by Standardized Systems and with varying levels of demand across the
Slide 5: Financials H1 2026
Financials H1 2026 Thomas Reist, CFO Media and Analysts Conference - H1 2026 30.07.2026 5
Slide 6: Kardex – Key Figures H1 2022 - 2026 (in EUR million)
Kardex – Key Figures H1 2022 - 2026 (in EUR million) Bookings Net revenues 600 600 CAGR 15.6% CAGR 14.4% 450 450 300 571.5 300 454.3 440.5 382.8 +18.7% 415.7 150 320.5 +5.8% 339.1 +12.9% +25.8% 150 +29.9% 334.5 +10.5% 369.7 +12.4% +6.0% 257.5 0 0 H1 2022 H1 2023 H1 2024 H1 2025 H1 2026 H1 2022 H1 20
Slide 7: Kardex – Income Statement (1/2)
Kardex – Income Statement (1/2) in EUR million H1 2026 (%) H1 2025 (%) (+/-%) Bookings 571.5 129.7% 454.3 109.3% 25.8% Order Backlog (30.06.) 727.2 165.1% 512.7 123.3% 41.8% Net revenues 440.5 100.0% 415.7 100.0% 6.0% Gross profit 131.5 29.9% 141.9 34.1% -7.3% OPEX 101.4 23.0% 93.0 22.4% 9.0% EBITDA
Slide 8: Kardex – Income Statement (2/2)
Kardex – Income Statement (2/2) in EUR million H1 2026 (%) H1 2025 (%) (+/-%) EBIT 30.1 6.8% 48.9 11.8% -38.4% Financial result, net 1.3 0.3% -0.4 -0.1% 425.0% EBT 31.4 7.1% 48.5 11.7% -35.3% Income tax -9.1 -2.1% -12.4 -3.0% 26.6% Tax rate 29.0% 25.6% Result for the period 22.3 5.1% 36.1 8.7% -38.2
Slide 9: Kardex – Balance Sheet
Kardex – Balance Sheet in EUR million H1 2026 YE 2025 (+/-) (+/-%) Current assets 362.0 362.8 -0.8 -0.2% thereof cash and cash equivalents 91.8 118.1 -26.3 -22.3% thereof NWC (accounts receivable and inventories) 237.3 199.0 38.3 19.2% thereof current fixed term deposits - 18.2 -18.2 -100.0% Non-cur
Slide 10: Kardex – Cash Flow Statement
Kardex – Cash Flow Statement in EUR million H1 2026 H1 2025 (+/-) (+/-%) Result for the period 22.3 36.1 -13.8 -38.2% Change in non-cash items 7.5 9.4 -1.9 -20.2% Change in NWC -8.0 -14.7 6.7 45.6% thereof accounts receivable -32.0 -21.4 -10.6 -49.5% thereof inventories -2.9 -6.7 3.8 56.7% thereof a
Slide 11: Segment Reports
Segment Reports Thomas Reist, CFO Media and Analysts Conference - H1 2026 30.07.2026 11
Slide 12: Automated Products
Automated Products Kardex Remstar Global organization providing Sales and Service in over 30 countries Automated solutions focusing on order fulfillment and storage/retrieval of single items >2’200 FTEs >140’000 installed solutions 2 manufacturing sites in Germany and 1 manufacturing site
Slide 13: Automated Products – Financial Highlights H1 2026
Automated Products – Financial Highlights H1 2026 in EUR million H1 2026 H1 2025 (+/-%) Following a weak start of the year, bookings picked up steadily. Bookings 314.6 294.1 7.0% Bookings +7%, with growth across all regions, led Order backlog (30.06.) 314.7 281.8 11.7% primarily by strong perfor
Slide 14: Automated Products – Key Figures H1 2022 - 2026 (in EUR million)
Automated Products – Key Figures H1 2022 - 2026 (in EUR million) Net revenues EBIT and EBIT margin 300 50 16.7% 16.0% 20.0% CAGR 5.9% CAGR 2.6% 16.8% 240 40 15.0% 11.9% 10.5% 180 30 283.0 10.0% 245.3 265.8 251.5 41.2 44.4 45.3 120 20 200.2 +22.5% +8.4% +6.5% -11.1% +73.1% +7.8% +2.0% -41.7% 23.8 26.
Slide 15: Standardized Systems
Standardized Systems Kardex Mlog Kardex AS Solutions Rocket Solution German based organization with focus Global partner of AutoStore since 2021 Founded in 2019 on Europe The AutoStore technology is an Kardex acquired minority stake in 2020 Automated solutions focusing on innovative a
Slide 16: Standardized Systems – Financial Highlights H1 2026
Standardized Systems – Financial Highlights H1 2026 in EUR million H1 2026 H1 2025 (+/-%) Bookings at Standardized Systems developed very positively. Demand was particularly strong for Bookings* 257.9 160.4 60.8% Kardex AS Solutions, and somewhat less so for thereof Kardex Mlog & Rocket 75.2 76.5
Slide 17: Major AutoStore Order – Groupe Madrigall, Paris
Major AutoStore Order – Groupe Madrigall, Paris About the customer The challenge The solution Leading French publishing group Consolidate two logistics picking and 300.000 storage bins and with renowned brands including shipping centers into one highly 300 AutoStore robots Gallimard and Flammarion
Slide 18: Standardized Systems – Key Figures H1 2022 - 2026 (in EUR million)
Standardized Systems – Key Figures H1 2022 - 2026 (in EUR million) Net revenues EBIT and EBIT margin 160 8 7.0% CAGR 35.0% CAGR 22.6% 5.8% 2.7% 6.0% 5.0% 4.1% 120 6 4.0% 5.0% 189.7 4.0% 80 4 133.0 3.0% 6.0 5.4 5.2 89.2 104.0 4.5 2.0% 40 2 57.1 +56.2% +16.6% +27.9% +42.6% 2.3 +95.7% +33.3% -10.0% -3.
Slide 19: Outlook
Outlook Jens Hardenacke, CEO Media and Analysts Conference - H1 2026 30.07.2026 19
Slide 20: Outlook
Outlook Based on current visibility, the Board of Directors and Group Management expect a full-year 2026 order and revenue growth in the range of 15-20%, with an EBIT margin of 8–10%. Kardex confirms the communicated mid-term financial targets set for 2029-2031 with a Group EBIT margin of 10-14%
Slide 21: Questions and Answers
Questions and Answers Media and Analysts Conference - H1 2026 30.07.2026 21
Slide 22: Disclaimer
Disclaimer This communication contains statements that constitute “forward-looking statements”. In this communication, such forward-looking statements may include statements on the financial situation, earnings situation and business results of Kardex as well as certain strategic plans and objective