DGAP-Adhoc: KION GROUP AG: KION Group withdraws forecast for the 2022 financial year

DGAP-Ad-hoc: KION GROUP AG / Key word(s): Forecast
KION GROUP AG: KION Group withdraws forecast for the 2022 financial year

04/04/2022 / 20:46 CET/CEST
Disclosure of inside information according to Article 17 of Regulation (EU) No. 596/2014, transmitted by DGAP – a service of EQS Group AG.
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PUBLICATION OF INSIDER INFORMATION PURSUANT TO ARTICLE 17 OF REGULATION (EU) NO. 596/2014

Tags: prognosis

KION GROUP AG

Thea-Rasche-Strasse 8

60549 Frankfurt am Main

ISIN DE000KGX8881

KION GROUP AG: KION Group withdraws forecast for the 2022 financial year

Frankfurt/Main, April 4, 2022

In view of the continuing considerable uncertainties in the procurement markets, which are being massively intensified by the military conflict in Eastern Europe and renewed corona lockdowns, the Executive Board of KION GROUP AG decided today, April 4, 2022, which was published on March 3, 2022 to withdraw forecast for the 2022 financial year.

On 22 February 2022, when preparing the consolidated financial statements, the Executive Board of KION GROUP AG approved the following forecast for the 2022 financial year for the KION Group and its operating segments:

in millionKION GroupIndustrial Trucks & ServicesSupply Chain Solutions
incoming orders111,600 – 12,8007,200 – 7,8004,400 – 5,000
revenues111,000 – 12,0007,000 – 7,6004,000 – 4,400
EBIT adjusted11,010 – 1,150655 – 735465-525
Free cash flow520 – 640
ROCE11.0% – 12.0%
1 The figures for the Industrial Trucks & Services and Supply Chain Solutions segments also include orders received across the Group, sales revenue and EBIT effects

Due to the bottlenecks in the procurement markets, which are expected to last much longer than expected, the sharp rise in material and logistics costs and renewed corona lockdowns, which are particularly affecting the Asian market, the forecast for the 2022 financial year can no longer be maintained. From today’s perspective, neither the further course of the military conflict in Eastern Europe or the corona pandemic, nor their economic effects can be reliably estimated. There are considerable uncertainties in the assessment of the Group’s business development for the further course of the financial year. A new forecast is to be made later in the year.

Explanations and reconciliations to the key financial figures used can be found in the 2021 Annual Report of KION GROUP AG (available at https://www.kiongroup.com/en/Investor-Relations/Publications/), especially on pages 70 ff. and 85 ff.

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