Kendrion N.V. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 22, 2023
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Kendrion N.V. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was EUR 136.9 million compared to EUR 126.9 million a year ago. Revenue was EUR 136.9 million compared to EUR 126.9 million a year ago. Net income was EUR 3.7 million compared to EUR 3.7 million a year ago. Basic earnings per share from continuing operations was EUR 0.24 compared to EUR 0.25 a year ago. Diluted earnings per share from continuing operations was EUR 0.24 compared to EUR 0.25 a year ago.
For the six months, sales was EUR 273.7 million compared to EUR 256.8 million a year ago. Revenue was EUR 273.7 million compared to EUR 257.3 million a year ago. Net income was EUR 8.6 million compared to EUR 8.8 million a year ago. Basic earnings per share from continuing operations was EUR 0.57 compared to EUR 0.59 a year ago. Diluted earnings per share from continuing operations was EUR 0.56 compared to EUR 0.59 a year ago.
Kendrion N.V. specializes in the design, manufacturing and marketing of intelligent actuators that help advance the global push towards automation, electrification and cleaner forms of energy in a wide range of industrial and automotive applications. These actuators can be found in wind power turbines, robots, warehouse automation, electric vehicles, energy distribution and industrial heating processes. Net sales break down by business segment as follows:
- Automotive (50.5%): electromagnetic systems and components for passenger cars and commercial vehicles;
- Industrial (49.5%): industrial actuators and controls (solutions based on electromagnetic actuators, control technology and fluid technology) and industrial brakes (electromagnetic brakes for electromotors).
Net sales are distributed geographically as follows: Netherlands (2.9%), Germany (59.7%), Europe (18.7%), Americas (10%) and Asia (8.7%).