Kion Group Lowers 2017 Guidance on Delay in Warehouse Orders; We Would Buy the Shares on Weakness
We would take advantage of weakness in Kion Group's shares on the back of today's profit warning. We believe the delays, not cancellations, in warehouse equipment orders and revenue are behind the new guidance. In its warehouse equipment "supply-chain solutions" segment, the company guided down orders, revenue, and EBIT by 13%-21% The forklift business guidance increased by 3%-4% on orders and revenue while remaining flat on EBIT. Given the larger size of the forklift business in the mix, the g...Kion Group AG Formerly known as Kion Group AG (Pre-Reincorporation). Kion Group AG is a Germany-based supplier of industrial trucks, related services and supply chain solutions. The activities of the Company are divided into three segments: Industrial Trucks and Services, Supply Chain Solutions and Corporate Services. The Industrial Trucks and Services segment comprises forklift trucks, warehouse technology, counterbalance trucks, towing vehicles, as well as automated trucks and autonomous trucks. It operates through three international brands: Linde, STILL and Baoli, as well as through three regional brands: Fenwick (France), OM STILL (Italy) and OM Voltas (India). The Supply Chain Solutions segment offers integrated technology and software solutions, picking equipment, automated storage and retrieval systems, sorters, and conveyors, marketed under the Dematic brand. The Company is active in more than 100 countries across the world.
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