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Kardex Systems AG

Kardex Remstar International Group: Kardex Group reports peak figures again in financial year 2008

Zurich (ots)

Renewed increase in revenues and bookings - order
books solid at year end - exceptionally high increase in
profitability expected
Kardex Group, one of the world's leading providers of dynamic
storage and retrieval systems (SIX Swiss Exchange: KAR) reported
record figures again in financial year 2008. Consolidated revenues
were increased by 9.0% to EUR 460.5 million (2007: EUR 422.5
million); adjusted for exchange rate effects, the increase was 9.7%.
Bookings also rose, up by 3.0% to EUR 449.2 million (EUR 436.2
million). At the end of the financial year, Kardex Group had solid
order books of EUR 98.9 million (EUR 107.8 million).
Record revenues at Kardex (KRM) division
In financial year 2008, the Kardex (KRM) division reported record
revenues of EUR 257.5 million (EUR 252.8 Mio.), exceeding the
previous year by 1.9%; adjusted for exchange rate effects, revenues
were increased by 3.5%. Bookings were at EUR 251.6 million (EUR 258.3
million), 2.6% below the previous year's record level. The decline is
due to lower demand in the fourth quarter of 2008 as a result of the
uncertain global economic outlook. Nevertheless, the Kardex (KRM)
division again had solid order backlog, totalling EUR 66.9 million
(EUR 71.8 million) at the end of financial year 2008. Following the
successful integration of the market units Kardex and Megamat
completed according to schedule, the Kardex (KRM) division is
expected to achieve a sustainable increase in profitability.
Stow division sees jump in revenues
The Stow division raised revenues by an impressive 20.2% versus
the prior year to EUR 205.8 million (EUR 171.2 million), in
particular in its European core markets. Adjusted for foreign
exchange effects, the growth amounted to 19.4%. The increase in
revenues was due in equal parts (10% each) to higher steel prices and
to additional volume. Furthermore, the opening of the new plant in
Shanghai in April 2008 is underpinning an expansion of revenues in
the markets of China and Asia Pacific. In spite of cyclical
fluctuations in December 2008, the Stow division reported a renewed
strong increase in bookings, up by 11% to EUR 197.6 million (EUR
178.0 million). At the end of the financial year, the Stow division
had robust order backlog of EUR 32.0 million (EUR 35.9 million).
Owing to the significant increase in revenues and the consistent
continuation of the 'Synergy' operational excellence program, the
Stow division is expected to have achieved exceptionally high growth
in profitability.
Strong improvement in Kardex Group's results expected
Against the backdrop of solid revenues, the successful completion
of the integration project within the Kardex (KRM) division and the
consistent continuation of the 'Synergy' operational excellence
program at the Stow division, Kardex Group management is expecting
the consolidated result to be considerably higher than the previous
year's figure. The 2008 annual report will be published in detail on
March 10, 2009 at the Annual Media Conference.
Outlook
Thanks to encouraging order book levels at the end of financial
year 2008, a substantially improved financing structure and
successfully implemented process and structure optimization measures,
Kardex Group is very well positioned to successfully meet volatile
demand in financial year 2009 and to continue sustainably expanding
its position in the medium term.
Agenda
March 10, 2009 Media and analysts' conference 
    April 21, 2009 Annual General Meeting
Kardex Remstar International Group    Australia, Austria, Belgium,
China, Cyprus, Czech Republic, Finland, France, Germany, Greece,
Hungary, India, Ireland, Italy, Malaysia, Netherlands, Norway,
Poland, Portugal, Russia, Sweden, Switzerland, Singapore, Slovakia,
Spain, Turkey, UK, USA.
Disclaimer
This communication contains statements that constitute
"forward-looking statements". In this communication, such
forward-looking statements include, without limitation, statements
relating to our financial condition, results of operations and
business and certain of our strategic plans and objectives. Because
these forward-looking statements are subject to risks and
uncertainties, actual future results may differ materially from those
expressed in or implied by the statements. Many of these risks and
uncertainties relate to factors which are beyond Kardex's ability to
control or estimate precisely, such as future market conditions,
currency fluctuations, the behavior of other market participants, the
actions of governmental regulators and other risk factors detailed in
Kardex's past and future filings and reports and in past and future
filings, press releases, reports and other information posted on
Kardex Group companies' websites. Readers are cautioned not to put
undue reliance on forward-looking statements, which speak only of the
date of this communication. Kardex disclaims any intention or
obligation to update and revise any forward-looking statements,
whether as a result of new information, future events or otherwise.

Contact:

Reto Welte
Chief Financial Officer
E-Mail: reto.welte@kri-group.com

Jos De Vuyst
Chief Executive Officer
E-Mail:jos.devuyst@kri-group.com
Phone: +41/44/386'44'15
Fax: +41/44/386'44'17

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