Gordon Riske

The KION group has reported a continued positive trend for the third quarter of 2014, despite the softer global economy.

KION reported that its total value intake grew by over 9% to EUR1.142 billion (USD1.422 billion) in the third quarter and its growth outperformed the global market. Orders by units increased by 10% in the third quarter due to the strength of the western European, Asian and eastern European markets. Meanwhile, the market as a whole expanded by 6.4% during that period.

The group says it also outperformed the market in China and Eastern Europe. In the third quarter, unit orders were up by 8.9% in China, compared to 14.6% for the first nine months of the year. KION's order intake in Eastern Europe grew 16.3% in the third quarter and by 11.8% from January to September.

The group's unit orders in Western Europe rose by 11.5% in the third quarter and by 10.4% in the nine-month period.

Earnings before interest and tax increased by over 11% to EUR111.8 million (USD139.3 million).

CEO Gordon Riske credits the group's "strong service business, which generates stable revenues with attractive margins" for its financial results.

"The KION Group has therefore again proved the effectiveness of its integrated business model. Our resilience in the face of a softer global economy is strengthened by the diversity of our customer base, which encompasses a very broad range of industries," Riske says.

The KION Group, comprising the six brands of Linde, STILL, Fenwick, OM STILL, Baoli and Voltas, is the largest manufacturer of industrial trucks in western and eastern Europe, the global number two in the industry and claims to be the leading non-domestic supplier in China.