KION GROUP AG : Prelim Q3 23 adj. EBIT of € 224m = 17% above cons (ITS driven - as flagged), FY 23 adj. EBIT outlook raised 15%, i.e. > 6% upside to cons (but SCS weaker)
>Strong ITS fuelled Q3 adj. EBIT beat of 17%, Q3 order intake below expectations - Last Friday KION reported preliminary Q3 2023 figures, encompassing an order intake increase of 4% y-o-y in Q3 2023 to € 2,621m, while order intake in ITS declined 8% y-o-y to € 1,757m due to adverse mix effects (more warehouse vs counterbalance trucks & higher APAC/value trucks exposure). Q3 2023 adj. EBIT increased to € 224m (vs profit warning Q3 2202 of -€ 101m), fuelled by strong IT...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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