Net income of the KION Group and adj. EBIT for the SCS segment in Q4 2023 and in the FY 2023 below market expectations; free cash flow of the KION Group for the FY 2023 exceeds market expectations
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EQS-Ad-hoc: KION GROUP AG / Key word(s): Preliminary Results/Quarter Results DISCLOSURE OF INSIDE INFORMATION PURSUANT TO Keywords: Preliminary Results, Quarter Results KION GROUP AG Net income of the KION Group and adjusted EBIT for the SCS segment in the fourth quarter of 2023 and in the financial year 2023 below market expectations; free cash flow of the KION Group for the financial year 2023 exceeds market expectations Frankfurt/Main, February 15, 2024 The KION Group's preliminary and unaudited results for the fourth quarter of 2023 and the financial year 2023 show that net income* of EUR 83 million (consensus**: EUR 118 million) in the fourth quarter of 2023 and of EUR 306 million (consensus: EUR 341 million) in the financial year 2023 is expected to be below market expectations. This is primarily due to higher non-recurring items as well as higher financial expenses in the fourth quarter of 2023. The dividend proposal is expected to be in line with market expectations. The adjusted EBIT for the SCS segment of EUR 14 million (consensus: EUR 18 million) in the fourth quarter of 2023 and EUR 44 million (consensus: EUR 49 million; outlook: min. EUR 55 million) for the financial year 2023 is below market expectations. The deviation from the outlook results from a one-off impact to complete one customer project. The free cash flow for the financial year 2023 is above market expectations at EUR 715 million (consensus: EUR 668 million; outlook: min. EUR 660 million). The KION Group's other key financials for the fourth quarter of 2023 and the financial year 2023 are expected to be in line with the outlook and market expectations and will be published on February 29, 2024. All figures provided are preliminary and unaudited. Explanations of the key financial figures used can be found in the Annual Report 2022 of KION GROUP AG (https://www.kiongroup.com/en/Investor-Relations/Publications/), especially on p. 75 ff. *The net income is the net income attributable to the shareholders of KION GROUP AG. **Consensus from Vara Research as of February 14, 2024 (https://www.kiongroup.com/en/Investor-Relations/Share/). Contact for investors Sebastian Ubert Raj Junginger End of Inside Information
15-Feb-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | KION GROUP AG |
| Thea-Rasche-Straße 8 | |
| 60549 Frankfurt/Main | |
| Germany | |
| Phone: | +49 69 20110-0 |
| E-mail: | info@kiongroup.com |
| Internet: | www.kiongroup.com |
| ISIN: | DE000KGX8881 |
| WKN: | KGX888 |
| Indices: | MDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1838315 |
| End of Announcement | EQS News Service |
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1838315 15-Feb-2024 CET/CEST
