Frankfurt (dpa -AfX) – The demand for demand from the previous year and the continuing trend towards cheaper forklifts (Kion Group) has burdened less than feared in the first quarter. At the same time, the order intake attracted the start of the year. Management also assumes that it can reach its annual goals, provided that the overall economic environment does not cloud. The share listed in the MDAX grew.
At times it was 3.5 percent higher and thus at the highest level for almost a month. Most recently it was around 1.5 percent plus. Since the beginning of the year, the share has been more expensive by over 15 percent, whereby it went well until mid-March, before a weak phase came in the course of the US customs debate, from which the course is currently trying to work out again.
The escalating international trade conflict has potential negative effects on the markets and the value chain of Kion, the warehouse logistics specialist announced on Wednesday in Frankfurt. Boss Rob Smith sees the group well positioned for changing geopolitical scenarios: “We did our homework,” he said. The capacities in the regions of North America and Asia-Pacific were expanded.
In the first three months of the year, order intake rose 11 percent to EUR 2.7 billion compared to the same period in the previous year. At the same time, sales fell slightly to around 2.8 billion euros. As a adjusted profit before interest and taxes (EBIT), almost 196 million euros remained, almost 14 percent less than a year earlier. The results were somewhat above the average estimates of analysts.
The bottom line was that Kion wrote almost 47 million euros in loss. Here the unique expenses for the austerity program, who started in February, were reflected. With over 190 million euros, Kion already posted the majority of the expenditure mountain in the first quarter, which is to amount to 240 to 260 million euros this year. From 2026, the measures are to save between 140 and 160 million euros annually. In the first quarter, the costs already incurred also burdened the free cash inflow, which more than halved at just under 30 million euros.
Analyst Lucas Ferhani from the investment house Jefferies spoke of strong results, whereby both business areas of Kion exceeded expectations. In particular, the decline in results in the forklift business was less violent than feared.
In his traditional business with staned and warehouse technology, Kion has been burdening machines and devices from the cheaper entry segment for some time – which also benefits the competition from China. The competition led to price reductions in 2024, said Kion. According to the amber analyst Philippe Lorrain, it is the first time that the Frankfurters themselves mention the price cuts.
Meanwhile, the business with automation technology and software is slowly coming out of the crisis after a few problematic years. The profitability also improved in the first quarter and should continue to do so, for example by processing unprofitable old projects.
In the business area, Kion offers sorting systems and those for equipping pallets. Apart from internal problems on the part of Kion, customers had held back in recent years, not least because of the higher interest rates that make purchases on pump ./lew/mis/stk
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