KION Group slightly adjusts outlook for 2017 on basis of preliminary results for Q1-Q3

2017-10-19

KION GROUP AG / Key word(s): Change in Forecast
KION Group slightly adjusts outlook for 2017 on basis of preliminary results for Q1-Q3

19-Oct-2017 / 07:35 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by DGAP - a service of EQS Group AG.
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Key word Change in Forecast
ISIN DE000KGX8881
Stock exchanges Frankfurt; Berlin, Düsseldorf, Hamburg, Hannover, Munich, Stuttgart; EUREX
Trading segment Regulated Market in Frankfurt (Prime Standard); Open Market in Berlin, Düsseldorf, Hamburg, Hannover, Munich, Stuttgart; EUREX derivatives exchange


KION Group slightly adjusts outlook for 2017 on basis of preliminary results for Q1-Q3

Wiesbaden - Today, the KION Group has slightly adjusted its outlook for the current financial year on the basis of its preliminary results for Q1-Q3 2017.

The outlook has been adjusted because order intake and revenue in the Supply Chain Solutions segment fell short of expectations. Growth in the Industrial Trucks & Services segment was unable to compensate, even though it was stronger than anticipated. The weaker performance in the Supply Chain Solutions segment is mainly attributable to customers' hesitation to invest and delayed project decisions by customers.

Order intake for the KION Group is now expected to be between EUR7,550 and EUR7,900 million (previously EUR7,800 to EUR8,250 million). The target figure for consolidated revenue is in the range of EUR7,400 to EUR7,700 million (previously EUR7,500 to EUR7,950 million). The target range for adjusted EBIT is between EUR715 and EUR765 million (previously EUR740 to EUR800 million). Free cash flow is expected to be in a range between EUR320 and EUR380 million (previously EUR370 to EUR430 million). The target figure for ROCE is in the range of 9.0 to 10.0 percent (previously 9.5 to 10.5 percent).

Order intake in the Industrial Trucks & Services segment is expected to be between EUR5,650 and EUR5,800 million (previously EUR5,450 to EUR5,600 million). The target figure for revenue is in the range of EUR5,450 to EUR5,600 million (previously EUR5,300 to EUR5,450 million). The target range for adjusted EBIT remains unchanged at EUR605 to EUR630 million.

Order intake in the Supply Chain Solutions segment is expected to be between EUR1,900 and EUR2,100 million (previously EUR2,350 to EUR2,650 million). The target figure for revenue is in the range of EUR1,950 to EUR2,100 million (previously EUR2,200 to EUR2,500 million). The target range for adjusted EBIT is between EUR170 and EUR195 million (previously EUR195 to EUR230 million).

The outlook is based on the assumptions that material prices will not increase any further and that the exchange rate environment will remain stable.

Order intake is defined as the value of orders contracted in the relevant period.
Adjusted EBIT is defined as EBIT adjusted for PPA items and non-recurring items.
ROCE is defined as the proportion of adjusted EBIT to capital employed. Free Cash Flow (FCF) is defined as cash flow from operating activities plus cash flow from investing activities.

Wiesbaden, October 19, 2017


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