Media Information
Media Service No. 88, 30 Oktober 2008
Kardex AG plans to buy US competitor Kardex Systems Inc.
Kardex AG has signed an Asset Purchase Agreement to buy the assets of its US competitor Kardex Systems Inc., which has filed Chapter 11 bankruptcy. Provided that the agreement is approved by the court, Kardex AG will take over the assets of Kardex Systems Inc. Kardex Systems Inc. posted sales of approx. USD 21 million in the 2007 business year.
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Media Service No. 87, 23 September 2008
Change in the Management Board of Kardex AG
The Chief Financial Officer of Kardex AG, Reto Welte, will be leaving the Group at the end of March 2009 to take on a new challenge. The Board of Directors and Management Board regret his decision and would like to thank him for his services and wish him all the best for the future.
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Media Service No. 86, 12 August 2008
Strong revenue growth and increased profitability
in the first half of fiscal 2008
In the first half of fiscal 2008, the Kardex Group, with its two divisions KRM (55% share) and Stow (45% share), lifted consolidated net revenues by 13.1% to EUR 222.0 million (prior year: EUR 196.2 million).
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Media Service No. 85, 23 April 2008
Annual General Meeting approves proposals of the Board of Directors
The Annual General Meeting of Kardex AG approved all proposals put forward by the Board of Directors. David J. Schnell was newly elected to the Board. He replaces Dr Rudolf Huber, who had opted not to seek re-election.
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Invitation
Ordinary 30th General Meeting
Tuesday, 22 April 2008, 4:00 PM,
at tv productioncenter zürich ag, Fernsehstrasse 1-4, 8052 Zürich
Agenda of minutes and applications of the Board of Directors are only available in German:
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Media Service No. 84, 11 March 2008
Strong EBIT gain and significantly improved balance sheet structure
The Kardex Group increased net revenues in the 2007 fiscal year by 11.4% to EUR 422.5 million (2006: EUR 379.1 million). The continued operations, KRM (Dynamic Storage and Retrieval Systems) and Stow (Static Storage Systems), both achieved record net revenues and bookings. The order backlog grew 21.8% to EUR 107.8 million (EUR 88.5 million). The Kardex Group's operating result showed a substantial improvement on the previous year's figure. Operating income for the continued operations amounted to EUR 35.2 million (EUR 18.6 mil-lion). Thanks to these operational improvements and the positive tax effects of the sale of the AFT Division, the net result for the entire Group increased to EUR 21.8 million (EUR -33.2 million). Net debt decreased by 41.5% to EUR 38.5 million (EUR 65.8 million) and equity rose by EUR 18.4 million to EUR 74.2 million (EUR 55.8 million), representing an equity ratio of 29.4% (19.2%).
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Media Service No. 83, 5 February 2008
Kardex Group reports record revenues and bookings in 2007 – Significantly higher EBIT expected
Thanks to its attractive range of products and services as well as a sound economic environment, Kardex Group, one of the world’s leading providers of dynamic storage and retrieval systems (SWX Swiss Exchange: KAR), increased the consolidated revenues of its continued operations in fiscal 2007 by 11.4% year on year to EUR 422.5 million (2006: EUR 379.1 million). Bookings rose by 12.4% to EUR 436.2 million (EUR 388.0 million). With order books of EUR 107.8 million (EUR 88.5 million), the Kardex Group has started confidently into the new fiscal year.
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Media Service No. 82, 27 November 2007
Kardex strengthens KRM division
Integration of Kardex and Megamat opens up sustainable synergy potential.
Kardex Group, a world leader in dynamic storage and retrieval systems (SWX Swiss Exchange: KAR), is strengthening its KRM division by fully integrating Kardex und Megamat, two units which had previously operated independently on the market.
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Media Service No. 81, 24 September 2007
Kardex strengthens position of KRM in France
Integration of French distribution partner.
Kardex Group, a leading global provider of dynamic storage and retrieval systems, is acquiring Leader Systèmes SA (www.leadersystemes.com) from the company's founder effective 21 September 2007. Leader Systèmes SA is domiciled in Le Mesnil-le-Roi near Paris.
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Media Service No. 80, 20 September 2007
Kardex to sell System Schultheis AG
Move marks continuation of focus on core business.
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Media Service No. 79, 14 August 2007
Kardex reports significant increase in profitability in first half-year 2007
Successful turnaround in operations – EBIT increase in both divisions – sustainable growth by concentrating on intrinsic strengths.
In the first half of 2007, the Kardex Group achieved a turnaround in its operations, increasing its operating result by EUR 8.7 million. In the first six months of the current financial year, Kardex reported a gratifying net result of EUR 8.3 million as against a loss of EUR -0.4 million in the previous year.
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Media Service No. 78, 27 June 2007 (available only in German)
For legal reasons the information contained in Media Service No. 78 is directed at visitors from certain countries only.
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Media Service No. 77, 26 June 2007 (available only in German)
For legal reasons the information contained in Media Service No. 77 is directed at visitors from certain countries only.
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Media Service No. 76, 15 June 2007 (available only in German)
For legal reasons the information contained in Media Service No. 76 is directed at visitors from certain countries only.
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Media Service No. 75, 25 May 2007
Annual General Meeting approves proposals of the Board of Directors
Creation of conditional capital
The Annual General Meeting of Kardex AG approved the creation of CHF 12,150,000 in conditional capital. Martin Wipfli was elected as a new member to the Board of Directors. All proposals put forward by the Board of Directors were approved.
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Invitation
Ordinary 29th General Meeting
Thursday, 24 May 2007, 4:00 PM,
at Lake Side Casino Zürichhorn, Bellerivestrasse 170, 8008 Zürich
Agenda of minutes and applications of the Board of Directors are only available in German:
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Media Service No. 74, 12 April 2007
Back on course for profitable growth after selling AFT
Measures to sustainably strengthen Group to be proposed to Annual General Meeting.
Substantial growth at KRM and Stow – divestment of AFT depresses shareholders' equity.
In those business divisions in which it is continuing operations – KRM (Dynamic Storage and Retrieval Systems) and Stow (Static Storage Systems) – the Kardex Group generated a significant increase in consolidated sales in 2006, up by 16.2% from EUR 326.2 million to EUR 379.1 million. At EUR 18.6 million, the operating result (EBIT) of those business divisions was slightly ahead of the previous year's figure (EUR 18.3 million), which reduced the EBIT margin from 5.6% to 4.9%. The lower EBIT margin was due to start-up problems at the new Stow works, steel price increases that could not be passed on to the market straight away, and heavy capital investment in the Sales & Marketing organization – especially at KRM.
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Media Service No. 73, 22 February 2007
Sale of AFT division closed
Kardex AG is selling its AFT division effective February 21, 2007 to the Munich-based Certina Group since agreement could not be reached with the original buyer (see media information dated December 22, 2006) on the terms of the closing. The contract with the Certina Group was signed and closed yesterday. As previously published, the anticipated extraordinary costs for the restructuring and hive-off of AFT amount to around EUR 25 million. Appropriate provisions are to be made in the 2006 financial statements.
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Media Service No. 72, 22 December 2006
Contract for sale of AFT division signed
On 22 December 2006, Kardex signed the contract for the sale of its AFT (Industrial Automation and Conveyor Technology) division to the former owner Gerhard Brutschin. The deal will ensure continuity for customers and suppliers of AFT.
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Media Service No. 71, 13 December 2006
Restructuring and separation from AFT division
In its media release of October 23, 2006, Kardex announced that more decisive action would be needed at its AFT (Industrial Automation and Conveyor Technology) division.
To ensure the continued existence of the AFT business, the Kardex board of directors decided to implement a comprehensive restructuring. All AFT locations will be affected and a reduction of workforce is inevitable. Kardex is in discussions with representatives of staff organizations.
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Media Service No. 70, 23 October 2006
Further AFT division losses impact Group result
The result for this year's third quarter, which ended September 30, shows the AFT division of Kardex to have sustained further, unexpected losses of approximately five million EUR in the third quarter due to technical problems encountered in the course of making major projects operational. Contrary to the expected profit at group level, the development at AFT division will lead to a negative Kardex Group result for 2006.
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Media Service No. 69, 18 September 2006
Kardex Remstar International Group Half-year Report 2006.
Group results improved Performance in the divisions varied.
Kardex Remstar International Group, which is listed on the Swiss Stock Exchange SWX, increased revenues by 17.1% to EUR 222.7 million in the first half of 2006. All three divisions contributed to growth, although they performed differently. The Group operating result (EBIT) improved to EUR 3.8 million (vs. EUR –4.0 million in the previous year’s period). Various extraordinary factors weighed on the result. The Group net result (EAT) amounted to EUR –0.4 million (vs. EUR –5.8 million in the previous year). For the financial year 2006 as a whole, Kardex expects a continued high level of incoming orders and a positive Group result.
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Media Service No. 68, 31 August 2006
The General Meeting approves motions of the Board of Directors.
Personnel changes in the Board of Directors and management.
At the 28th General Meeting of Kardex AG in Zürich on 31 August 2006, the shareholders approved the Annual Report with the Financial Statement as well as the Consolidated Financial Statements for financial 2005.
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Media Service No. 67, 9 August 2006
CFO to leave Kardex
Rolf Juninger, Chief Financial Officer of the Kardex Remstar International Group, will be leaving the company by the end of 2006.
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Media Service No. 66, 31 July 2006
New consolidated financial statements for 2005 now completed
Revision and audit of the Kardex Remstar International Group’s consolidated financial statements for 2005 has been completed. At EUR 23.5 million before adjustments to the value of goodwill, the corrections are within the range previously announced. Adjustments to the value of goodwill amount to EUR 19.0 million net. As a result, the Group made a loss of EUR 34.2 million in 2005. Shareholders’ equity at the end of 2005 amounted to EUR 90.3 million and the equity ratio stood at 31.5%. The Kardex AG Annual General Meeting will take place on 31 August 2006. The new Annual Report will be published by the time invitations are sent out.
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Media Service No. 65, 18 July 2006
Kardex Remstar International Group rectifies AFT's
goodwill position
Following its announcement of 14 May 2006, Kardex AG's Board of Directors wishes to clarify the situation regarding the revised version of its financial statements for 2005.
The reappraisal of projects being handled by the AFT Division (Industrial Automation and Conveyor Technology) and examination of the remaining items in the statements is largely complete. As far as we are able to tell at the moment, the correction necessary, before any adjustment for goodwill, will be within the previously announced range of EUR 20.0 to 25.0 million.
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Media Service No. 64, 15 May 2006
Kardex Remstar Group postpones 2006 General Meeting
The Kardex Remstar International Group and its three divisions applied for and announced the suspension of trading in Kardex shares for Friday, 12 May 2006. In the course of an ongoing overhaul of the strategy and processes practised by the AFT Division, management uncovered a number of serious errors in the assessment of various projects. These errors will lead to considerable adjustments in the Group’s financial statements for 2005 and, possibly, of the individual financial statement for Kardex AG. In view of these facts, the financial statements for 2005 will have to be drawn up again and re-audited.
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Media Service No. 63, 12 May 2006
Kardex applies for suspension of trading in its shares
In view of the announced overhaul of the strategy of the AFT Division (Industrial Automation and Conveyor Technology) we have detected unexpected differences in the valuation of certain projects.
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Media Service No. 62, Mid-March 2006
Kardex Remstar International Group:
Projected par value payback.
In 2005, all three divisions in the Kardex Remstar Group contributed towards an impressive increase in total revenues. Consolidated sales rose by 11.6% from EUR 395.5 million to EUR 441.2 million.
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Media Service No. 61, February 2, 2006
Kardex Remstar International Group:
Significantly higher revenues. Better-than-average results for the KRM and Stow Divisions. Losses posted by AFT. Income (IFRS) approximately the same as 2004.
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Media Service No. 60, Ocotber 2005
Change in management at AFT,
a division of the Kardex Remstar Group
Mr Michael Tatomir, current General Manager of AFT Automatisierungs- und Fördertechnik GmbH & Co. KG in Schopfheim/Germany, and CEO of the Industrial Automation and Conveyor Technology Division, leaves the Group with effect from mid-November 2005.
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Media Service No. 59, August 2005
The first half of 2005 for the Kardex Remstar International Group: Substantial improvements in sales and profits
As announced, the Kardex Remstar Group's financial statements for the first half of 2005 are reported for the first time under IFRS and in euros. For comparative purposes, the previous year's figures have been restated.
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Media Service No. 58, March 2005
Strong second half and higher order intake
As expected, the Industrial Automation and Conveyor Technology Division, which mainly supplies project contractors and the automobile industry, failed to equal its record sales of 2003. The difference was CHF 52.3 million, or 24.7%. Despite this, with revenues for 2004 totalling CHF 613.7 million, the Kardex Remstar Group as a whole managed to maintain sales at the same level as in the previous year.
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Media Service No. 57, December 2004
Replacements in Top Management of the Kardex Remstar Group
At the end of the year 2005, Richard Flury (1942), CEO and Member of the Board of Directors of Kardex Remstar International Group for many years, will relinquish his function as business executive for reasons of age and retire from operative management. Richard Flury has prepared this step well. The Board of Directors is therefore pleased to be able to present an internal solution for his succession as planned.
Jos De Vuyst will be appointed COO of the Kardex Remstar Group on 1 January 2005. After a transitional year, he will take up the position of CEO on 1 January 2006.
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Media Service No. 56, August 2004
First half of 2004 – Kardex Remstar International Group
– Results within the scope of the prior-year period
– Strong second half of the year expected
Overall, the consolidated financial figures reported by the Kardex Remstar Group for the first six months of 2004 are within the magnitude of the same previous-year period. For the materials handling specialist, there are parallels in the business trend as well: expectations of a perceptible improvement of earnings are focused on the second half of the year. Within Kardex Remstar, however, there have been some significant changes.
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Media Service No. 55, Mai 2004
Approval of the Shareholders for the Merger with Tuxedo Invest AG
After the extraordinary General Meeting of Tuxedo Invest AG of 10 May 2004, the ordinary General Meeting of Kardex AG also agreed today to the merger with Tuxedo Invest AG. All proposals submitted by the Board of Directors were approved.
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Press Release of 19 March 2004
Kardex to merge with Tuxedo Invest
Disengagement of the shareholders of IC Cham, Kardex and
Tuxedo
Kardex AG is merging with investment company Tuxedo Invest AG, whereby equity amounting to approximately CHF 61 million will flow into Kardex. Industrieholding Cham AG will focus on special papers and real estate.
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Media Service No. 54, March 2004
Board proposes dividend
As announced on several occasions, Kardex Remstar's main priority in 2003 was to increase profits. This goal was achieved, with income after tax and minority interests rising by 168.7% from CHF 3 million to CHF 8.1 million.
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Media Service No. 53, February 2004
Kardex Remstar: to begin with, three pieces of good news
Before Kardex Remstar International Group publishes its definite figures for the previous financial year 2003 traditionally in mid-March, the Board of Directors and management can offer some good news.
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Media Service No. 52, October 2003
Kardex concludes acquisition of Stow International
Kardex AG, whose stocks are listed on the Zurich Stock Exchange, has taken over the remaining 40% of the Belgian Stow International nv, effective end of September 2003.
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Media Service No. 51, October 2003
Kardex sells RETIS Software AG, Jona (Switzerland)
The Kardex Remstar International Group, a materials handling specialist, has sold one of its software companies, RETIS Software AG, Jona (sales CHF 3.2 m.) to Stöcklin Logistik AG, Dornach.
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Media Service No. 50, August 2003
Profit advances in first half of 2003
The Group’s start into the current financial year reflected the adverse economic environment. Worldwide, the industrial sector exercised great restraint in equipment spending decisions, redoubling the pressure imposed on the prices of capital goods.
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Media Service No. 49, March 2003
Resisting the trend
In an extraordinarily difficult year Kardex Remstar managed to finish up in the black, generate a free cash flow, pay off a number of debts and improve its balance sheet.
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Media Service No. 48, August 2002
Balanced result thanks to improved second quarter
Contrary to all expectations, the precarious state of the world economy shows no sign of improvement. Industry as a whole is extremely cautious about any form of capital investment.
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Media Service No. 47, March 2002
Results in line with revised expectations
Despite a decline during the fourth quarter, the Kardex Remstar Group posted sales of CHF 560.5 million in 2001.
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Media Service No. 46, November 2001
Kardex expects profits to be halved
The Kardex Remstar Group will not be able to meet its targets for 2001.
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Media Service No. 45, August 2001
Vigorous sales growth as margins come under pressure
Once again, revenues during the first six months of 2001 increased sharply and, compared with the same period last year, were up 19.1% to CHF 230.4 million.
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Media Service No. 44, August 2001
Kardex takes over Belgian Stow Group
Switzerland’s internationally successful materials handling specialist, Kardex Remstar, has acquired a controlling interest in the stock of the Stow Group, which is headquartered in Wevelgem in the Flemish-speaking part of Belgium.
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Media Service No. 37, March 2000
Kardex acquires AFT Automation and Conveying Systems GmbH, Schopfheim/Germany
The traditional niche in storage and retrieval systems held by the Kardex Remstar International Group, Zurich, had become somewhat restrictive of late. The takeover of AFT, which became effective on 1.1.2000, has given the Group control of a well-known manufacturer in automation and conveying technology, which has made a big name for itself in the automobile industry.
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