After a successful flotation on 28 June (Forkliftaction.com News #622), the KION Group has announced that it has achieved record-breaking revenue for the first half of 2013.

The group's revenue grew to EUR2.234 billion (USD2.990 billion), which is 0.7% up on the prior year when adjusted for the sale of the hydraulics business. Operating profit increased 4.2% to its highest-ever level of EUR200.4 million (USD268.2 million).

The group achieved an increase of 1.8% in its service business, which comprises after-sales business, services relating to used trucks and truck rental as well as fleet management systems and solutions. Service business continued to generate more than 40% of total revenue.

"Thanks to our excellent position in the emerging markets, KION Group succeeded in achieving further profitable growth in the first half of the year," says CEO Gordon Riske. "We have laid the foundations for maintaining our successful operating performance of recent years. Our successful IPO and the strengthening of our capital base are another key condition for pursuing our global expansion strategy even more vigorously."

KION's order intake was boosted by strong growth in the number of units ordered in the world's emerging regions, which accounted for 34% of new truck orders.
Despite the weaker level of demand in Western Europe, global orders for new trucks placed for the first half of 2013 totalled around 73,800, compared to 75,500 in 2012.

Total R&D spending was EUR57.3 million (USD76.7 million) in the first six months of 2013, which was on par with the same period in 2012 and equated to 2.6% of revenue.

The number of employees (including apprentices and trainees) has risen by 1.5%, from 21,215 as at 31 December 2012 to 21,533 as at 30 June 2013.