KION Group Reports Enhanced Profitability for First Nine Months of 2024

KION Group AG has demonstrated notable financial success in the first nine months of the financial year 2024, with revenue rising by 1.1% to €8.435 billion compared to €8.347 billion in 2023. The adjusted EBIT grew by 16.6% to €666.7 million, resulting in an EBIT margin increase to 7.9% from 6.9% the previous year. The free cash flow also saw a significant boost, reaching €431.3 million, up from €329.3 million in 2023.

The Industrial Trucks & Services segment experienced a 2.4% revenue growth to €6.305 billion, bolstered by increased unit sales and improved pricing strategies. Meanwhile, the Supply Chain Solutions segment faced a revenue drop of 2.5%, standing at €2.161 billion, yet its service business surged by 15.8%.

Furthermore, the company confirms its 2024 outlook with adjusted EBIT projected between €850 million and €910 million, alongside a new appointment to the Supervisory Board and an extension of Ching Pong Quek’s contract on the Executive Board until 2030.