KION GROUP AG : Preview: Q3 2024 due 30 October – Still too early to call a broader recovery
>Flat sales, earnings and orders down y-o-y, guidance should be reiterated - Overall, we think Q3 2024 is nothing to write home about for the group reporting and expect group orders to be down 12% q-o-q, mainly due to seasonality, but also down 11% due to likely sluggish SCS division order intake (ODDO BHF: € 2.33bn, btb of 0.85x). Revenues should still be roughly flat y-o-y at € 2.73bn, while adj. EBIT should be down, also in margin terms, on 1a/ weaker ITS mix and 1...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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