Germany · Delayed Price · Currency is EUR KION GROUP AG Earnings Call Transcripts
Fiscal Year 2026
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Order intake and profitability rose in both segments, with strong automation advances and a positive free cash flow. 2026 outlook is confirmed, with proactive measures to address geopolitical and cost risks. Strategic investments and new product launches support growth.
Fiscal Year 2025
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Q3 2025 saw a 10% rise in order intake, flat revenue, and a 58% jump in net income, with strong free cash flow and improved leverage. Guidance for revenue, EBIT, and free cash flow was raised, and the efficiency program's cost was reduced while maintaining savings targets.
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Q3 2025 is expected to show typical seasonality, with year-over-year growth in order intake and revenue, but margin pressure from lower factory utilization and higher incentive expenses. Net income should rise due to a tax gain, while free cash flow remains positive despite pension funding.
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Q2 2025 saw record order intake, especially in SCS, but revenue declined due to prior subdued demand. Profitability improved in SCS, while ITS margins were pressured by lower volumes. Full-year outlook and margin targets are confirmed, with risks from geopolitical and trade uncertainties.
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Order intake grew 11% year-over-year to €2.7 billion, but revenue declined slightly and adjusted EBIT fell 14% due to lower volumes and efficiency program costs. Service and modernization businesses showed strong growth, while the outlook for 2025 remains confirmed amid geopolitical risks.
Fiscal Year 2024
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Record revenue and improved margins in 2024, with strong service growth offsetting weaker new equipment sales. 2025 guidance anticipates a temporary margin dip in ITS due to market and mix headwinds, while SCS is set for margin improvement as legacy projects wind down and e-commerce demand returns.
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Q3 2024 delivered stable margins and strong free cash flow despite softer order intake and ongoing macro uncertainty. Guidance for the year was narrowed, with robust service growth and improved leverage, while APAC outperformed and U.S. de-stocking continued.
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Stabilization is expected in the global industrial truck market, with growth in EMEA and APAC offset by declines in the Americas. Revenue and EBIT guidance for 2024 have been narrowed, with margins expected to soften due to mix shifts and seasonality. Cost optimization and backlog normalization are supporting profitability improvements.
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Q2 2024 delivered solid year-over-year growth in revenue and Adjusted EBIT, with strong free cash flow and continued margin improvements in both segments. Guidance for 2024 was narrowed, reflecting a slower market recovery, especially in SCS, but profitability and cash flow remain robust.