KION GROUP AG : Investment case fully intact (despite technical ‘warning’!), FY 2023 group KPIs in line with guidance, Outperform rating and € 61 TP confirmed
>Technical (Bafin?) driven ‘warning’ – Group KPIs in line with FY 2023 outlook - We talked to IR and they said that yesterday’s release is a 'technical warning = non-event'. KION is actually under more severe supervision of Bafin (got a small fine after they did not follow their ad-hoc obligation in Q4 21 and they have a new general counsel). Net income came in at € 83m vs consensus of € 118m in Q4 2023, which was negatively impacted by ~€ 25m in non-recurring items r...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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