Switzerland's Kardex misses 2025 revenue expectations, net profit falls

Kardex Holding AG

12/03/2026 05:44

Overview

Switzerland intralogistics provider's 2025 revenue rose 7.5% but missed analyst expectations

EBIT exceeded EUR 100 mln for first time, up 2.8% yr/yr

Net profit fell 48.3% due to a write-off related to Rocket Solution acquisition

Outlook

Kardex says reshoring, labor shortages and automation remain key growth drivers for intralogistics

Kardex expects results in line with communicated financial targets

Result Drivers

STANDARDIZED SYSTEMS - Revenue growth was mainly driven by strong performance in Standardized Systems, with segment bookings up 52.9% and net revenues up 18.6%

SALES MIX IMPACT - A shift in the sales mix between Automated Products and Standardized Systems led to a slightly lower gross profit margin

HIGHER OPERATING COSTS - Operating costs increased mainly due to higher sales and marketing, R&D, and digitalization expenses

ROCKET SOLUTION WRITE-OFF - Company wrote off loans granted to fund Rocket Solution since 2021 following acquisition, resulting in one-time non-cash effect of roughly EUR 39 mln

Company press release: ID:nEQ2FmQ82a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
FY Revenue
Miss
EUR 850.4 mln
EUR 872.52 mln (6 Analysts)
FY EBIT
EUR 101.2 mln
FY Order Backlog
EUR 599.2 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the heavy electrical equipment peer group is "buy"

Wall Street's median 12-month price target for Kardex Holding Ltd is CHF355.00, about 49.5% above its March 11 closing price of CHF237.50

The stock recently traded at 24 times the next 12-month earnings vs. a P/E of 26 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)