KION GROUP AG : Q2 results due 27 July – Strong ITS can offset SCS weakness, FY 2023 outlook upgrade for ITS on the cards, we still prefer JUN3 over KGX
>We forecast Q2 adj. EBIT increase of 32% y-o-y to € 187m, strong performance in ITS (Q2 adj. EBIT margin 9.1%e) may trigger further FY 2023 outlook upgrade - We expect a sequential uptick in ordered truck units to continue in Q2 2023 (ODDO BHFe: 62k) after a trough level of 41k was reached in Q4 2022. We forecast Q2 2023 order intake drop of 27% y-o-y to € 2.7bn against a tough comparable base with SCS segment showing a q-o-q recovery to € 828m (Q1 2023: € 498m). We...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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