Kardex Remstar Due Diligence

Run due diligence on Kardex Remstar: check compliance and get alerts when suppliers or ownership change.

Switzerland · owned by Kardex Holding AG (Switzerland) · kardex-remstar.dk · 6 vendors

Kardex is a leading global partner for intralogistics solutions, specialising in automated storage and retrieval systems, material handling systems, and order fulfilment solutions. The company offers products such as vertical lift modules, carousels, miniload systems, AutoStore™ solutions, and high-bay warehouses, serving industries including automotive, pharmaceuticals, e-commerce, and food & beverage. Kardex operates in over 30 countries with approximately 2,900 employees worldwide.

Resilience scores

Technology vendors

Services catalogue

1 service in catalogue across 1 category; runs on 6 sub-vendors.

Insights

Last updated 2026-10-15 · revision 2

6 direct vendors, 132 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Migration Readiness: 5/10

Assessed by AI based on technology stack characteristics (cloud-native vs legacy, containerization, microservices), regulatory environment, data residency requirements, financial stability, and vendor lock-in risks. The score ranges from 0-10, where higher scores indicate better readiness for technology migration.

Kardex Remstar exhibits moderate migration readiness, primarily hindered by critical unknowns and explicit vendor lock-in. While the company utilizes SaaS platforms like HubSpot and Workday for internal operations and offers cloud-based solutions (Kardex Power Pick Cloud) in its product line, indicating some familiarity with cloud technologies, the path to a full digital migration is complex. A significant challenge is the "Medium Vendor Lock-in Risk" with its 6 vendors, which could complicate efforts to transition away from existing systems or renegotiate contracts. More critically, the regulatory environment, including NIS2 applicability and data residency requirements, is "Unknown." This lack of clarity on compliance obligations and data handling constraints represents a major impediment, as these factors are fundamental to planning and executing any large-scale cloud migration. The presence of both on-premise (Kardex Power Pick System) and cloud-based software offerings suggests a hybrid IT landscape, which, while offering flexibility, also adds complexity to migration planning and execution. The deep integration of their core business with physical automated storage and retrieval systems also implies a significant on-premise infrastructure that would require careful consideration for data and control system migration.

Compliance

11 in-scope frameworks identified; showing 3.

EU EMC Directive — Evidence found

Kardex Remstar's automated storage and retrieval systems are electrical and electronic equipment that must not cause or be affected by electromagnetic disturbance.

Evidence: https://ib-lenhardt.com/kb/faq/emc-directive-2014-30-eu, https://megalabinc.com/safety/machinery-directive-ce-marking/, https://www.tuvsud.com/en-us/services/product-certification/emc-directive

ISAE 3000 (source) — No public evidence

Similar to SOC 2, customers may require an ISAE 3000 report to gain assurance over non-financial information, such as the security and operational controls of Kardex Remstar's connected services.

SIX Swiss Exchange Listing Rules — No public evidence

Kardex Holding AG, the parent company of Kardex Remstar, has been listed on the SIX Swiss Exchange since 1989.

Financials

Three-year financials

Financial Resilience Score: 8/10

Kardex Group demonstrates strong financial resilience underpinned by a robust balance sheet, high returns on invested capital, and a diversified revenue mix. The company maintained a net cash position of EUR 136.5M at end-2025 and an equity ratio of 53.6%, providing substantial buffer against downturns. ROIC remained exceptional at 35.0%, demonstrating highly efficient capital deployment. The record order backlog of EUR 599.2M (+26.0% YoY) provides strong revenue visibility into 2026. The company's business model benefits from recurring Life Cycle Services revenue (26.5% of 2025 revenues) which provides stability alongside New Business (73.5%). FY 2025 marked the first time EBIT exceeded EUR 100M in company history, and the five-year CAGRs for bookings (13.0%), revenues (16.9%), and EBIT (13.4%) reflect sustained operational strength. However, several concerns temper the score: net profit dropped 48.3% in 2025 due to a ~EUR 39M non-cash writedown related to the Rocket Solution acquisition, free cash flow collapsed 77.4%, and net working capital expanded 33.8%. Margin dilution is a growing concern as the lower-margin Standardized Systems segment (5.0% EBIT margin) grows faster than high-margin Automated Products (16.1%). Regional demand volatility (weak US, flat Asia) and acquisition integration risk also pose ongoing challenges.

Key strengths: Net cash position of EUR 136.5M with 53.6% equity ratio, Exceptional ROIC of 35.0%, Record order backlog of EUR 599.2M (+26.0% YoY) providing revenue visibility, First-time EBIT exceeding EUR 100M in company history, Diversified revenue between New Business (73.5%) and recurring Life Cycle Services (26.5%), Five-year revenue CAGR of 16.9% demonstrating sustained growth, Unchanged dividend of CHF 6.00 per share signaling management confidence

Risk factors: Net profit declined 48.3% in 2025 due to EUR 39M Rocket Solution write-off, Free cash flow fell 77.4% YoY to EUR 20.5M, Net working capital increased 33.8%, pressuring cash conversion, Margin dilution from faster growth in lower-margin Standardized Systems (5.0% vs 16.1% EBIT margin), Weakening US demand and flat Asia performance, Acquisition integration risk demonstrated by Rocket Solution writedown, Gross margin compression from 35.0% to 34.1% due to unfavorable mix and personnel costs

Revenue by geography

Revenue by product/service

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