Gordon Riske, KION CEO

Global materials handling manufacturer KION Group has reported record revenue for 2008, despite the impact of the financial crisis on global markets.

The company says it was able to maintain its share of the global market at just under 17%. The company was recently ranked at number two on the dhf-intralogistik's annual world ranking of materials handling manufacturers (Forkliftaction.com News #397).

Net revenue increased (preliminary figure) by 5.6% to EUR4.554 billion (USD5.747 billion). Revenue for the Linde brand rose by just under 4% with the brand performing well in China. The markets of Brazil, eastern Europe and the German market grew by 11%.

Earnings before interest and tax and before one-off items improved by 7.1% from EUR330 million (USD416 million) to EUR353 million (USD445 million).

Gordon Riske, KION CEO, says 2008 was the best year ever for the group because of good business in the first half of the year. "In the second half of the year, however, we felt the impact of the global financial and economic crisis as the propensity of our customers to make capital expenditure dropped significantly."

Riske says KION has been able to adapt to changing market conditions because of the flexibility and dedication of its workforce and the rapid implementation of counter-measures. "The economic downturn that lies ahead of us will demand further efforts and sacrifices in order to mitigate the expected decline in revenue.

"However, the KION Group and its brands have demonstrated that we have solid foundations and will be able to prosper in the difficult economic times that lie ahead."