Kardex Holding Ag · SIX:KARN
Kardex — H1 2022 Earnings Presentation
20 slides from Kardex's earnings presentation, Jul 28, 2022
Slide 1: Media and Analysts Conference H1 2022
Media and Analysts Conference H1 2022 28 July 2022
Slide 2: Agenda
Agenda Introduction T. Reist, CFO Financials H1 2022 T. Reist, CFO Division Reports Kardex Remstar and Kardex Mlog J. Fankhänel, CEO Outlook J. Fankhänel, CEO Questions and Answers Media and Analysts Conference - H1 2022 | 28.07.2022 | 2
Slide 3: Introduction
Introduction Thomas Reist, CFO Media and Analysts Conference - H1 2022 | 28.07.2022 | 3
Slide 4: Highlights and Key Achievements 1st Half Year 2022
Highlights and Key Achievements 1st Half Year 2022 Automation trend drives demand across all industry segments Strategic investment programs continue to prepare Kardex for the future Bookings growth of 6% above the strong H1 2021 Net revenues increased by 24% but still impacted by missing co
Slide 5: Kardex – Key Figures H1 2018 - 2022 (in EUR million)
Kardex – Key Figures H1 2018 - 2022 (in EUR million) Net revenues EBIT and EBIT margin 300 40 CAGR 7.2% CAGR 0.2% 250 30 12.4% 13.0% 200 12.1% 11.5% 9.2% 150 20 229.6 257.5 100 195.1 +17.7% 207.8 207.1 28.4 26.9 -9.5% -0.3% +24.3% 23.6 +20.3% -15.5% 24.0 +12.1% -11.5% 23.8 10 50 0 0 H1 2018 H1 2019
Slide 6: Financials H1 2022
Financials H1 2022 Thomas Reist, CFO Media and Analysts Conference - H1 2022 | 28.07.2022 | 6
Slide 7: Kardex – Income Statement (1/2)
Kardex – Income Statement (1/2) in EUR million H1 2022 (%) H1 2021 (%) (+/-%) Bookings 320.5 124.5% 302.5 146.1% 6.0% Order Backlog (30.06.) 437.4 169.9% 313.4 151.3% 39.6% Net revenues 257.5 100.0% 207.1 100.0% 24.3% Gross profit 81.5 31.7% 75.2 36.3% 8.4% OPEX 57.7 22.4% 48.3 23.3% 19.5% EBITDA 28
Slide 8: Kardex – Income Statement (2/2)
Kardex – Income Statement (2/2) in EUR million H1 2022 (%) H1 2021 (%) (+/-%) EBIT 23.8 9.2% 26.9 13.0% -11.5% Financial result, net -2.3 -0.9% -1.0 -0.5% -130.0% EBT 21.5 8.3% 25.9 12.5% -17.0% Income tax -5.7 -2.2% -6.3 -3.0% 9.5% Tax rate 26.5% 24.3% Result for the period 15.8 6.1% 19.6 9.5% -19.
Slide 9: Kardex – Balance Sheet
Kardex – Balance Sheet in EUR million H1 2022 YE 2021 (+/-) (+/-%) Non-current assets 104.4 109.3 -4.9 -4.5% thereof property, plant and equipment 58.2 53.7 4.5 8.4% Current assets 228.9 228.5 0.4 0.2% thereof cash and cash equivalents 73.1 88.1 -15.0 -17.0% thereof NWC 106.9 86.2 20.7 24.0% Assets
Slide 10: Kardex – Cash Flow Statement
Kardex – Cash Flow Statement in EUR million H1 2022 H1 2021 (+/-) (+/-%) Result for the period 15.8 19.6 -3.8 -19.4% Change in non-cash items 7.9 4.4 3.5 79.5% Change in NWC -16.4 11.0 -27.4 -249.1% thereof accounts receivable -5.1 5.2 -10.3 -198.1% thereof inventories -14.1 1.4 -15.5 -1107.1% there
Slide 11: Division Reports Kardex Remstar and Kardex Mlog
Division Reports Kardex Remstar and Kardex Mlog Jens Fankhänel, CEO Media and Analysts Conference - H1 2022 | 28.07.2022 | 11
Slide 12: Division Kardex Remstar – Financial Highlights H1 2022
Division Kardex Remstar – Financial Highlights H1 2022 in EUR million H1 2022 H1 2021 (+/-%) Increased booking, both in New Bookings 254.6 228.6 11.4% Business and LCS Order backlog (30.06.) 300.2 204.7 46.7% Net revenues increased, impacted by Net revenues 200.2 166.7 20.1% shortage of componen
Slide 13: Division Kardex Remstar – Key Figures H1 2018 - 2022
Division Kardex Remstar – Key Figures H1 2018 - 2022 (in EUR million) Net revenues EBIT and EBIT margin 240 40 CAGR 6.0% CAGR 0.9% 180 30 14.5% 16.0% 14.5% 14.4% 11.9% 120 20 189.1 200.2 158.8 +19.1% 173.2 166.7 +20.1% 27.4 26.7 -8.4% -3.8% 23.0 +19.1% -8.8% 25.0 +6.8% -10.9% 23.8 60 10 0 0 H1 2018
Slide 14: Division Kardex Mlog – Financial Highlights H1 2022
Division Kardex Mlog – Financial Highlights H1 2022 in EUR million H1 2022 H1 2021 (+/-%) Good bookings development, below Bookings 54.7 73.3 -25.4% very strong H1 2021 Order backlog (30.06.) 115.0 108.1 6.4% Net revenues with strong increase Net revenues 50.4 40.4 24.8% over H1 2021 Gross profi
Slide 15: Division Kardex Mlog – Key Figures H1 2018 - 2022
Division Kardex Mlog – Key Figures H1 2018 - 2022 (in EUR million) Net revenues EBIT and EBIT margin 60 4 CAGR 8.6% CAGR 11.7% 3 5.6% 45 5.9% 5.2% 2 5.0% 30 50.4 40.6 40.4 2.8 36.3 +11.8% -15.0% 34.5 +17.1% +24.8% +33.3% 2.4 -91.7% +950.0% 2.1 +33.3% 15 1 1.8 0.6% 0 0 0.2 H1 2018 H1 2019 H1 2020 H1
Slide 16: Corporate Ventures
Corporate Ventures Bookings of EUR 11.4 million and net revenues of EUR 7.0 million included in consolidated result Ramp-up cost with approx. EUR 1 million negative EBIT impact AutoStore Business Robomotive B.V. Rocket Solution GmbH consolidated * consolidated * non-consolidated * in Segment Hol
Slide 17: Outlook
Outlook Jens Fankhänel, CEO Media and Analysts Conference - H1 2022 | 28.07.2022 | 17
Slide 18: Outlook
Outlook Customer learnings from global supply chain problems support strong demand for automated intralogistics solutions Strategic investments continue to prepare Kardex for the future Improved components supply and stabilization of material cost Kardex Remstar to turn very high order backl
Slide 19: Questions and Answers
Questions and Answers Media and Analysts Conference - H1 2022 | 28.07.2022 | 19
Slide 20: 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