KION GROUP AG : Slower-than-expected start to the year (order intake -7% vs cons), while adj. EBIT (+5% vs cons) benefits from positive mix in ITS, FY 24 outlook confirmed
>Shortfall in Q1 2024 order intake primarily driven by SCS (-17% vs cons.), some downside to strong ITS adj. EBIT-margin (11.1%) ahead (but in line with outlook) - KION reported a Q1 2024 order intake increase of 2% y-o-y to € 2,439m, which is 7% below the consensus estimate of € 2,618m (Q1 level still supports full-year guidance across all KPIs). We expect a Q1 order intake of € 1,804m in ITS (# of trucks +/-0% y-o-y at 59m units) to be a good proxy for Q2 24 as well...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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.