Brief: Kardex FY Net Profit Down At EUR 40.7 Million

Kardex Holding AG

04/03/2021 05:33

March 4 (Reuters) - KARDEX HOLDING AG  KARN.S :
    * PROVES ROBUST IN AN ENVIRONMENT DOMINATED BY THE PANDEMIC
    * IN 2020, KARDEX RECORDED BOOKINGS OF EUR 416.8 MILLION,
7.9%
BELOW PREVIOUS YEAR
    * FY REVENUES DECLINED MORE SHARPLY TO EUR 412.9 MILLION AND
WERE
12.4% LOWER THAN IN PREVIOUS YEAR
    * AT EUR 153.0 MILLION, FY GROSS PROFIT WAS ONLY 10.7% BELOW
PREVIOUS YEAR'S RECORD
    * FY OPERATING PROFIT (EBIT) OF EUR 55.5 MILLION
    * FY NET PROFIT AMOUNTED TO EUR 40.7 MILLION, A DECLINE OF
9.4%
COMPARED TO PREVIOUS YEAR
    * NEW KARDEX REMSTAR PLANT IN USA, WHICH IS NOW ALMOST
COMPLETE,
IS NOT EXPECTED TO START OPERATIONS UNTIL Q3 OF 2021
    * REMAIN CONVINCED OF MEDIUM TO LONG-TERM GROWTH
OPPORTUNITIES AND
DYNAMICS OF AUTOMATION IN INTRALOGISTICS
    * KARDEX' MEDIUM-TERM GROWTH AND FINANCIAL TARGETS REMAIN
UNCHANGED

Source text for Eikon:  ID:nEQFQMBNa 
Further company coverage:  KARN.S 

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