KION GROUP AG: KION Group withdraws outlook for fiscal year 2022

DISCLOSURE OF INSIDE INFORMATION PURSUANT TO ARTICLE 17 OF REGULATION (EU) NO. 596/2014

Keywords: Forecast

KION GROUP AG

Thea-Rasche-Straße 8

60549 Frankfurt am Main

ISIN DE000KGX8881

KION GROUP AG: KION Group withdraws outlook for fiscal year 2022

Frankfurt/Main, April 4, 2022

In view of the ongoing and substantial uncertainties in the procurement markets, which are significantly exacerbated by the military conflict in Eastern Europe as well as by recent Corona-lockdowns, the Executive Board of KION GROUP AG decided today, April 4, 2022, to withdraw the outlook for the fiscal year 2022 as published on March 3, 2022.

On February 22, 2022, the Executive Board of KION GROUP AG had adopted the following outlook for the fiscal year 2022 for the KION Group and its operating segments when preparing the consolidated financial statements:
 

Due to the bottlenecks in the procurement markets, which are anticipated to last much longer than expected, the continued sharp increase in material and logistics costs, and recent Corona-lockdowns which particularly affect the Asian market, the outlook for fiscal year 2022 can no longer be maintained.

From the current perspective, neither the further course of the military conflict in Eastern Europe or the Corona pandemic, nor their economic impacts can be reliably assessed. There are significant uncertainties in the evaluation of the Group's business performance for the further course of the fiscal year. A new outlook shall be prepared in the further course of the year.

Explanations and reconciliations of the key financial figures used can be found in the Annual Report 2021 of KION GROUP AG (available at https://www.kiongroup.com/en/Investor-Relations/Publications/), in particular on pages 70 et seq. and 85 et seq.