KION Group has released its financial results for Q1 showing group revenue for the period was EUR2.788 billion (USD3.16 billion), a 2.5% year-on-year (y-o-y) dip with Industrial Trucks & Services revenue falling 1.7% y-o-y to EUR2.116 billion (USD2.4 billion) and Supply Chain Solutions dropping 4.3% to EUR687.7 million USD780 million).

KION states that customer demand increased year-on-year (y-o-y) in both segments “despite the increasing economic uncertainties associated with the threat of trade conflicts and geopolitical tensions”.

Q1 order intake for KION was EUR2.706 billion (USD3.07 billion), a small jump on Q1 2024’s EUR2.439 billion USD2.77 billion). 

“Order intake for Industrial Trucks & Services was EUR1.958 billion (USD2.22 billion) [down from Q1 2024’s EUR1.804 billion (USD2.5 billion)] and benefited from both the new truck business and the continued growth of service business,” KION states.

“The significant increase in order intake at Supply Chain Solutions to EUR755.7 million (USD857.1 million), down from Q1 2024’s EUR641.6 million (USD727.7 million) was mainly due to the strong growth in modernisation and upgrade projects reported in the service business.”

Rob Smith, CEO of KION Group AG says it was a solid start to the year and in line with its outlook despite the volatile environment.“Our company is well-positioned for shifting geopolitical scenarios,” Smith continues. “We have done our homework expanding our capacities in production, R&D and sales and service networks in the APAC and Americas regions. 

"We produce local for local, and local for global and are managing the dynamic tariff situation in an agile manner.”

KION has left the outlook for the 2025 financial year unchanged from February, “subject to the condition that there is no significant deterioration in the overall economic environment”.