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Investing.com -- Kardex Holding AG on Thursday reported strong first-half 2025 results that exceeded market expectations, with significant growth in order intake and sales.
The Swiss intralogistics company saw order intake rise 18.7% year-over-year to €454.3 million, well above analyst consensus of €417.6 million. Sales increased 12.4% to €415.7 million, also beating expectations of €395.8 million.
Operating profit (EBIT) grew 1.5% to €48.9 million, while net profit decreased 5.7% to €36.1 million, both figures surpassing analyst forecasts.
The company’s Automated Products division, which includes Kardex Remstar, reported an 11.1% increase in order intake to €294.1 million. Revenue in this segment rose 6.5% to €283 million, with EBIT up 2% to €45.3 million.
Kardex’s Standardized Systems division, comprising Kardex Mlog and AutoStore Solutions, saw order intake surge 35.6% to €160.4 million.
Within this segment, Mlog orders jumped 85.2% to €76.5 million, while AutoStore grew 9% to €84.1 million. Revenue for the division increased 27.9% to €133 million, though EBIT declined 10% to €5.4 million.
Free cash flow decreased to €8.4 million from €56 million in the first half of 2024, primarily due to working capital changes and higher investments.
The company’s equity ratio stood at 53.3%, down from 57.7% at the end of 2024, with net cash of €125.8 million compared to €137.4 million a year earlier.
Despite ongoing geopolitical tensions and trade uncertainties, Kardex anticipates a stronger second half of 2025, pointing to a filled sales funnel and improved decision-making for larger projects.
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