KION grows revenue and profitability driven by IAS

On Group level, revenue and profitability increased, driven by significant revenue and earnings growth in the Intelligent Automation Solutions (IAS) segment, while order intake development in the Industrial Trucks & Services (ITS) segment did not materialize as expected. In a growing material handling market, ITS did not keep pace with the market development, especially in the value and economy truck segment. Free cash flow was positive at € 121.1 million despite increased M&A activity and payments related to the efficiency program.

Financial Results

At € 8.445 billion (2025: € 8.882 billion), order intake on Group level decreased year-on-year. With € 5.897 billion, order intake at Industrial Trucks & Services was slightly down (2025: € 5.970 billion) due to an adverse change in regional mix with a higher proportion of APAC business and product mix with a higher share of entry-level warehouse trucks. Order intake in the Intelligent Automation Solutions segment was below the level of the previous year at € 2.575 billion (2025: € 2.941 billion), which had been driven by a record order intake in project business in Q2 2025.

Group revenue in the first nine months of 2026 increased by 3.9 percent to € 8.522 billion (2025: € 8.200 billion). In the Industrial Trucks & Services segment, revenue decreased slightly to € 6.034 billion (2025: € 6.079 billion). Despite higher shipments in unit terms, the increased share of entry-level warehouse trucks in the product mix impacted revenue. Revenue in the service business grew slightly. Revenue in the Intelligent Automation Solutions segment increased by 16.9 percent in the first nine months of 2026 to € 2.519 billion (2025: € 2.154 billion). This was driven by strong growth in the project business and a service business almost on par with the high prior-year level.

Adjusted EBIT on Group level increased by 9.9 percent to € 632.5 million (2025: € 575.4 million), corresponding to an adjusted EBIT margin of 7.4 percent (2025: 7.0 percent). Adjusted EBIT in the Industrial Trucks & Services segment decreased slightly to € 528.7 million (2025: € 529.5 million), with an adjusted EBIT margin of 8.8 percent (2025: 8.7 percent). In addition to the lower revenue from new business, exchange rate effects had a negative impact on operating profit. This was partially offset by the improved gross margin in the service business, the increasing impact of savings from the efficiency program, and the lower valuation of long-term incentive programs. In the Intelligent Automation Solutions segment, adjusted EBIT grew significantly by 36.6 percent year-on-year to € 172.2 million (2025: € 126.0 million) with an adjusted EBIT margin of 6.8 percent (2025: 5.8 percent). The main driver of the improvement in earnings was the significant increase in gross profit from the project business, while the earnings contribution from the high-margin service business fell slightly short of the high prior-year level.

With € 309.1 million (2025: € 167.1 million), net income improved significantly compared to 2025, which had been impacted heavily by one-off expenses related to the efficiency program. At € 121.1 million (2025: € 392.8 million), free cash flow was positive despite increased payments relating to M&A activities and the efficiency program.

You can find our business results for the first nine months of 2026 at a glance in our

Q3 Press Release.

More detailed information on our business performance you can find in the

Quarterly Statement Q3 2026.