Thomas Toepfer

„We continued to grow profitably”

After having seen good momentum in the first quarter, the KION Group continued to grow profitably in the second quarter of 2017 and confirms the outlook for 2017.

After the dynamic start into the year 2017, we have continued to grow profitably in the second quarter; both segments - Industrial Trucks & Services and Supply Chain Solutions - have seen very good momentum. Especially if you look at the Supply Chain Solutions segment, the secular trends of automation, Industry 4.0 and e-commerce they are driving the demand for warehouse equipment and automation equipment.

Another notable thing is the very successful capital increase we carried out and the gross proceeds of 603 million euros were used to partly refinance the acquisition loan for Dematic. And we got a positive rating action. Standard & Poor’s improved their rating for the KION Group from BB+ with a negative outlook to BB+ with a stable outlook. And that also reflects the good feedback that we received on the rapid financing of the Dematic acquisition.