KION GROUP AG : Too early to jump in, growth momentum in SCS paused until 2024
>Q3 recap – Deterioration of order intake in SCS (no one-time event), ITS better on margin, outlook for ~70% y-o-y FY22 adj. EBIT drop confirmed - Q3 2022 results were not as bad as expected, although FY 2023 prospects are rather cloudy. The outlook for a 70% y-o-y adj. EBIT drop in FY 2022 (at mid-point) and other KPIs was confirmed. We expect no material improvement in profitability before H2 2023 and a book-to-bill ratio of <1.0x is likely to be the new normal in S...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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