- ISIN DE000KGX8881
- Country Deutschland
KION GROUP AG
KION GROUP AG: Adjusted EBIT and free cash flow at Group level in Q1 2023 better than expected due to strong ITS segment; order volume in SCS segment below market expectations; outlook 2023 increased
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KION GROUP AG / Key word(s): Change in Forecast/Preliminary Results For the first quarter of 2023, based on preliminary results, the Executive Board of KION GROUP AG expects adjusted EBIT to be €156 million (previous year: €170.3 million) at Group level, which is significantly above market expectations (Vara Research consensus as of April 16, 2023: €118 million; average of estimates from 13 financial analysts). This is mainly driven by the improving supply chain situation and pull-forward benefits from operational and commercial agility in the Industrial Trucks & Services segment. Adjusted EBIT for the Industrial Trucks & Services segment is expected to significantly exceed market expectations in the first quarter of 2023 at €177 million (previous year: €114.2 million) (Vara Research consensus as of April 16, 2023: €139 million; mean value from estimates of 13 financial analysts). Free cash flow at Group level is expected to be clearly positive at €105 million (previous year: €-432.6 million; Vara Research consensus as of April 16, 2023: €60 million; mean value from estimates of 4 financial analysts). In the Supply Chain Solutions segment, the Executive Board of KION GROUP AG expects an order volume of approximately €498 million in the first quarter of 2023, which is significantly below market expectations (Vara Research consensus as of April 16, 2023: €713 million; mean value from estimates of 13 financial analysts). Due to the strong first quarter of 2023 in the Industrial Trucks & Services segment, the Executive Board of KION GROUP AG today, April 19, 2023, adjusted the outlook for fiscal year 2023 for the Group and the Industrial Trucks & Services segment published on March 2, 2023 as follows:
KION GROUP AG will announce the final results for the first quarter of 2023 on April 27, 2023. Explanations and reconciliations of the key financial figures used can be found in the Annual Report 2022 of KION GROUP AG (available at https://www.kiongroup.com/en/Investor-Relations/Publications/), in particular on pages 73 et seq. The Vara Research consensus is published at https://www.kiongroup.com/en/Investor-Relations/Share/. Contact for investors Sebastian Ubert Raj Junginger End of Inside Information
19-Apr-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
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| Language: | English |
| Company: | KION GROUP AG |
| Thea-Rasche-Straße 8 | |
| 60549 Frankfurt/Main | |
| Germany | |
| Phone: | +49 69 20110-0 |
| E-mail: | info@kiongroup.com |
| Internet: | www.kiongroup.com |
| ISIN: | DE000KGX8881 |
| WKN: | KGX888 |
| Indices: | MDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1611801 |
| End of Announcement | EQS News Service |