KION GROUP AG successfully completes capital increase

2020-12-04 / 11:00:47


KION GROUP AG successfully completes capital increase

- Capital increase fully placed

- 95.8% of subscription rights were exercised

- 4.2% sold via bookbuilding

- Gross issue proceeds of around €813 million

- Proceeds expected to strengthen the KION Group's financial position and comprehensively support the path of growth enshrined in the 'KION 2027' strategy

- 13,108,647 new shares issued, equivalent to approximately 11 percent of the current share capital

Frankfurt am Main, December 4, 2020 - KION GROUP AG has very successfully completed the capital increase by way of a rights issue that it had announced on November 18, 2020. "The fact that take-up of the new shares was so good underlines the confidence that shareholders and the capital markets have in our corporate strategy 'KION 2027'," says Anke Groth, Chief Financial Officer of KION GROUP AG.

The gross proceeds from the capital increase amount to approximately €813 million. This represents another significant step in strengthening the KION Group's financial position and flexibility and preparing it for growth under its KION 2027 strategy after the COVID-19 pandemic. The total of 13,108,647 new shares - approximately 11 percent of the existing share capital - were offered to the shareholders of KION GROUP AG (subject to certain restrictions) as part of a rights issue for subscription in the period from November 20 through December 3, 2020 at a ratio of one new share for every nine existing shares. The subscription price was €62.00 per new share. Weichai Power (Luxembourg) Holding S.à r.l., the anchor shareholder of KION GROUP AG, exercised its subscription rights in full. 551.207 shares that remained unsubscribed were placed with qualified institutional investors on December 4, 2020 as part of an accelerated bookbuilding process in accordance with the applicable securities legislation.

The proceeds from the capital increase are initially to be used in full to reduce the KION Group's level of indebtedness. Once it has received the proceeds from the offering, the KION Group also expects to be able to terminate the syndicated revolving credit facility that it had agreed with its core group of banks under the participation of Kreditanstalt für Wiederaufbau (KfW) in May of this year.

"The successfully completed capital increase further strengthens our balance sheet. From this stronger financial position, we want to forge ahead with our innovative business activities," says Gordon Riske, Chief Executive Officer of KION GROUP AG. The capital increase is intended to enable further steps to be taken as part of the long-term "KION 2027" strategy, such as expansion in China, new product development, a focus on software solutions as well as KION's continued efforts to improve efficiency.

The capital increase needs to be registered with the commercial register in order to take effect, which the Company will apply for shortly. The new shares are planned to be admitted to trading on or about December 7, 2020 and to be included in the existing quotation in the segment of the Regulated Market with additional post-admission obligations (Prime Standard) of the Frankfurt Stock Exchange on or about December 8, 2020. The new shares carry full dividend rights from January 1, 2020.

The Company

The KION Group is one of the world's leading providers of industrial trucks and supply chain solutions. Its portfolio encompasses industrial trucks, such as forklift trucks and warehouse equipment, as well as integrated automation technology and software solutions for the optimization of supply chains, including all related services. Across more than 100 countries worldwide, the KION Group's solutions improve the flow of material and information within factories, warehouses, and distribution centers. The KION Group, which is included in the MDAX, is the largest manufacturer of industrial trucks in Europe and the second largest worldwide in terms of units sold in 2019. It is also a leading provider of warehouse automation based on revenue in 2019.

The KION Group's world-renowned brands are well established. Measured by revenue in 2019, Dematic - the newest addition to the KION Group - is the global leader in warehouse automation, providing a broad range of intelligent supply chain and automation solutions. The Linde and STILL brands serve the premium industrial truck segment. Baoli focuses on industrial trucks in the value segment. Among KION's regional industrial truck brand companies, Fenwick is the leading material handling supplier in France.

With an installed base of more than 1.5 million industrial trucks and over 6,000 installed systems, the KION Group's customers include companies of various sizes in numerous industries on six continents. The Group currently has more than 35,000 employees and generated revenue of €8.8 billion in 2019.

Current KION Group images can be found in our image database at and on the websites of our various brands.



This publication is not an offer or a solicitation to buy or subscribe to securities in the United States of America ('USA'), in Australia, Canada, Japan, or other jurisdictions in which an offer is prohibited by law.

This publication and the information contained herein are for information purposes only and do not constitute a prospectus nor do they contain an offer to sell securities in the USA or a solicitation of an offer to buy securities in the USA. None of the securities referred to herein have been nor will they be registered in accordance with the provisions of the U.S. Securities Act of 1933, as amended ('U.S. Securities Act') or in accordance with the applicable laws in any federal state of the United States of America. Without such registration, these securities may not be offered, sold, or in any other way transferred, with the exception of securities that are offered and sold pursuant to an exemption from the registration requirements of the U.S. Securities Act. If a public offer of securities were to take place in the USA, this would be carried out by means of a prospectus approved by the U.S. Securities and Exchange Commission (the 'SEC') and available from KION GROUP AG (the 'Company') that contained detailed information about the Company and its management, and financial information. Neither the Company nor any of its shareholders intends to register the shares referred to herein in the USA. There will be no public offering in the USA and any prospectus will not be approved by the SEC.

This publication does not constitute an offer to sell nor a solicitation to buy any securities. The subscription period for the securities referred to herein has ended.

No money, securities, or other consideration is being solicited and, if sent in response to the information contained herein, will not be accepted.

This document is not a prospectus nor an offer of securities to the public in the United Kingdom to which section 85 of the UK Financial Services and Markets Act 2000 applies, and must not be construed as a recommendation to any person to subscribe or to buy securities under the offer. This document will be sent only to: (i) persons outside the United Kingdom; (ii) persons who are investment professionals as defined in Article 19(5) of the UK Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the 'Order'); or (iii) high net worth companies, unincorporated associations and other bodies that are covered by Article 49(2)(a) to (d) of the Order (the aforementioned persons also referred to as 'Relevant Persons' below). Any person who is not a Relevant Person must not act or rely on this release or its contents. Any investment or investment activity to which this release relates will be available only to Relevant Persons and will be engaged in only with Relevant Persons. This document (or parts thereof) must not be published, reproduced, distributed, or otherwise made available to third parties without the prior consent of the Company.

This document contains forward-looking statements. These statements reflect the current views, expectations, and assumptions of the Company's management and are based on information available to the management at the present time. Forward-looking statements are subject to known and unknown risks and uncertainties and contain no guarantee of future performance and developments. The actual future performance and developments may vary significantly from the expectations and assumptions expressed herein due to a variety of factors including, but not limited to, changes in the general economic situation and the competitive situation in the market (including due to the COVID-19 pandemic). Developments in the financial markets and exchange rate fluctuations, changes to national and international laws, particularly with regard to tax rules, and other factors may also influence the future performance and developments of the Company. Neither the Company nor any company affiliated with it assumes any obligation to update the statements contained in this release.

Further information for the media

Michael Hauger
Senior Vice President Corporate Communications
Tel: +49 (0)69 201 107 655
Cell: +49 (0)151 1686 5550

Frank Grodzki
Senior Director External Communications & Group Newsroom
Tel: +49 (0)69 201 107 496
Cell: +49 (0)151 6526 2916

Further information for investors

Sebastian Ubert
Vice President Investor Relations
Tel: +49 (0)69 201 107 329

Antje Kelbert
Senior Manager Investor Relations
Tel: +49 (0)69 201 107 346

Dana Unger
Senior Manager Investor Relations
Tel: +49 (0)69 201 107 371

Your Contacts

Dr. Christopher Spies

Senior Manager Corporate Communications

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