KION GROUP AG announces exceptional 2023 financial year with doubling of adjusted EBIT

KION GROUP AG achieved a remarkable financial year 2023, with a doubling of adjusted EBIT and a significant improvement in margin, accompanied by exceptional free cash flow. This performance builds on record revenues of €11.434 billion and adjusted EBIT of €790.5 million, compared to €292.4 million the previous year. Adjusted EBIT margin reached 6.9%, while free cash flow amounted to €715.2 million, reversing a negative situation from the previous year.

The industrial trucks and services division showed significant growth, with revenues reaching €8.480 billion, driven by increased production levels and price increases. The supply chain solutions division, however, recorded a decline, with revenue falling to €2.997 billion due to subdued demand in the project sector. Despite this, the net profit tripled, reaching 314.4 million euros.

Shareholders also benefit from this strong financial performance, with a proposed dividend of 0.70 euros per share for the 2023 financial year, marking a substantial increase compared to the previous year. KION continues its commitment to sustainability, as evidenced by its continued efforts and recognitions in this area.

For 2024, KION expects a slight increase in revenue and a significant improvement in adjusted EBIT, reflecting the company's confidence in its ability to maintain sustainable and profitable growth in its business segments.