KION is revising down its forecast guidance ranges for the 2024 financial year, “based on the business performance in the first half of the year and the updated market expectations”.
The world’s second-largest forklift maker reports revenue for H1 2024 increased 2.12% year-on-year to EUR5.736 billion (USD6.26 billion), while adjusted EBIT was 28% higher y-o-y at EUR447 million (USD489.6 million).
Rob Smith, KION Group chief executive officer, says the improved adjusted EBIT was the result of “significant y-o-y profitability improvements in both operating segments”.
"Despite a slower market recovery in the current financial year, we are well on track to achieve our outlook. Our clear strategy, our broad range of products and solutions for customers and our presence in all key markets position KION very well for the future,” Smith adds.
KION has downgraded earlier expectations of slight growth in unit sales in the global industrial trucks market, now expecting levels similar to last year.
“In the market for supply chain solutions, the KION Group now expects the global market volume in 2024 (measured in terms of revenue) to decline slightly compared with the previous expectation of a slight growth,” the company notes.