KION Group sees continued success in Q2
Industrial company KION Group saw continuing success in the second quarter of the year as it continued the good news story it started telling in Q1. The company’s growth is partly organic, and partly as a result of the Dematic acquisition it made earlier in the year. KION saw its total order intake value rise to €1.97 billion in the second quarter of the year – up 38.1% year over year. It’s revenue also rose dramatically to €2.016 billion – an incredible 50% increase from the same period last year.
KION Group’s share price has risen by 38% so far this year
SOURCE: Yahoo Finance
The company didn’t just make more money, it also managed to translate more of it into profit. Net income for the second quarter of 2017 increased by 69.1% to €108.2 million, while its adjusted EBIT margin improved to 10.6%. The company’s CEO, Gordon Riske, said:
"Our two main segments - Industrial Trucks & Services and Supply Chain Solutions - continue to see strong market momentum, and we are fully participating in this growth. The global market for trucks and warehouse technology also developed very well in the second quarter. As before, the rapid expansion of e-commerce and the increasing penetration of Industry 4.0 technologies are driving the warehouse systems and automation solutions businesses."
The group reiterated its previous guidance, and expects consolidated revenue for the year in the range of €7.50 billion to €7.95 billion.
Dominion holds KION Group in its Global Trends Managed Fund.
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