Kion Reports Solid 2Q With Double-Digit Revenue Growth and Margin Expansion; Shares Attractive
Kion's second-quarter results beat consensus on revenue and EBIT, and the company looks on track to meet guidance. We are maintaining our EUR 90 fair value estimate and find the shares attractive. Group revenue grew by 12% and the EBIT margin expanded by 70 basis points. As expected, group orders were down sharply year over year, declining 14%, with tough comparables from 2018 when supply chain solutions (warehouse automation equipment) orders grew by 93%.ÂIndustrial trucks (forklifts) outperfo...
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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