KION Group off to a strong start in fiscal year 2023

2023-04-19 / 15:11:43

KION Group off to a strong start in fiscal year 2023

  • Business development in the ITS segment in the first quarter significantly better than expected
  • KION Group therefore raises its 2023 outlook
  • Adjusted Group EBIT in the first quarter is expected to amount to €156 million (previous year: €170.3 million)
  • Significantly positive free cash flow of €105 million anticipated (previous year: €-432.6 million)
  • SCS segment in line with KION Group expectations – order volume significantly below prior-year quarter


Frankfurt am Main, April 19, 2023 – Based on preliminary figures, the KION Group recorded better-than-expected business performance in the first quarter of 2023 thanks to the Industrial Trucks & Services (ITS) segment.

The significant increase in adjusted EBIT in the ITS segment to an expected €177 million (previous year: €114.2 million) mainly reflected the improving supply chain situation and pull-forward benefits from operational and commercial agility. As a result, the preliminary adjusted EBIT margin for ITS rose to 8.8 percent (previous year: 6.6 percent). Accordingly, the KION Group's adjusted EBIT was better than expected.

"The strong development in the ITS segment shows that the measures we have introduced are taking effect. That is why we have raised our outlook. The Group is well on the way to sustainably increasing profitability," said Rob Smith, CEO of KION GROUP AG.

The development of revenue and adjusted EBIT at SCS was in line with KION Group expectations. Order volumes in the SCS segment were significantly lower than the prior year level due to continued restraint in customers' investment decisions causing delays in new orders.

Free cash flow is expected to be clearly positive at €105 million (previous year: €-432.6 million). In addition to operating profit, stable net working capital compared with year-end 2022 was a major contributory factor.

Due to the strong first quarter at ITS, the Executive Board of KION GROUP AG has adjusted the outlook for fiscal year 2023 for the Group and for the ITS segment as follows:

Outlook 2023  
    KION Group
  Industrial Trucks
& Services
  Supply Chain
Revenue1   minimum
€11.0 billion
€11.2 billion
€7.8 billion
€8.0 billion
€3.2 billion
EBIT adjusted1   minimum
€550 million
€615 million
€600 million
€665 million
€65 million
Free Cashflow   minimum
€500 million
€565 million
ROCE   minimum
1 Disclosures for the Industrial Trucks & Services and Supply Chain Solutions segments also include intragroup cross-segment revenue and effects on EBIT.  


KION Group’s key performance indicators for the first quarter, which ended March 31, 2023 (preliminary results)

€ million Q1/2023 Q1/2022

Industrial Trucks & Services
Supply Chain Solutions
EBIT adjusted [1]
Industrial Trucks & Services
Supply Chain Solutions
Free Cashflow [2] 105 -432.6
Order Intake

Industrial Trucks & Services
Supply Chain Solutions

[1] Adjusted for purchase price allocation items and non-recurring items
[2] Free cash flow is defined as cash flow from operating activities plus cash flow from investing activities


The Company

The KION Group is one of the world’s leading providers of industrial trucks and supply chain solutions. Its full spectrum of services includes industrial trucks, such as forklift trucks and warehouse trucks, as well as integrated automation technologies and software solutions for the optimization of supply chains—including all related services. The KION Group’s solutions ensure the smooth flow of materials and information in customers’ warehouses, production plants, and distribution centers in over 100 countries.

The MDAX-listed group is the largest manufacturer of industrial trucks in the EMEA region based on the number of units sold in 2021. Based on revenue for the year 2021, the KION Group is the leading overseas manufacturer in China, and including domestic manufacturers, the third-largest supplier there. The KION Group is also one of the world’s leading warehouse automation providers, based on 2021 revenue.

At the end of 2022, more than 1.7 million industrial trucks from the KION Group were in use by customers from all manner of sectors and of varying sizes on six continents. The Group currently employs over 41,000 people and generated revenue of approx. €11.1 billion in the 2022 financial year.

You can access up-to-date image material for the KION Group via our image database as well as on our respective brands’ websites.


This communication and the information contained herein are for informational purposes only and do not constitute a prospectus or an offer of securities for sale in the United States or any other jurisdiction, or a solicitation of an offer to buy securities in the United States or any other jurisdiction.
This release contains forward-looking statements that are subject to various risks and uncertainties. Future results may deviate significantly from the results currently expected, and due to various risk factors and uncertainties such as changes in the business, economic, or competitor situation, changes in legislation, outcomes of technical studies, exchange rate fluctuations, uncertainties regarding litigation or investigative proceedings, and the availability of financial resources. This particularly applies in respect of currently unforeseeable further developments in connection with the war in Ukraine, and the geopolitical consequences of the war, and in respect of the coronavirus pandemic and the resulting impact on KION GROUP AG and its subsidiaries and on the wider economic and political environment in the markets in which KION GROUP AG and its subsidiaries operate. We do not assume any responsibility for updating the forward-looking statements contained in this release.

Further information for media representatives

Frank Grodzki
Vice President External Communication & Group Newsroom
Telephone +49 (0)69 201 107 496
Cell +49 (0)151 65 26 29 16

Christopher Spies
Senior Manager Corporate Communications
Cell +49 (0)151 14 06 52 27

Further Information for Investors

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

Raj Junginger
Senior Manager Investor Relations
Telephone +49 (0)69 201 107 942

Your Contacts

Dr. Christopher Spies

Senior Manager Corporate Communications

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