13.09.2022 KION GROUP AG  DE000KGX8881

DGAP-Adhoc: KION GROUP AG: KION Group expects a loss in the third quarter 2022; KION Group provides new outlook for 2022


 

DGAP-Ad-hoc: KION GROUP AG / Key word(s): Profit Warning/Forecast
KION GROUP AG: KION Group expects a loss in the third quarter 2022; KION Group provides new outlook for 2022

13-Sep-2022 / 20:03 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


DISCLOSURE OF INSIDE INFORMATION PURSUANT TO ARTICLE 17 OF REGULATION (EU) NO. 596/2014

 

Keywords: Profit Warning, Guidance

KION GROUP AG

Thea-Rasche-Straße 8

60549 Frankfurt am Main

ISIN DE000KGX8881

KION GROUP AG: KION Group expects a low triple digit million EUR loss in the third quarter 2022 on KION Group level and in its Supply Chain Solutions segment due to cost increases in project business; order intake, adjusted EBIT and free cash flow in the third quarter of 2022 are substantially impacted; KION Group provides new outlook for 2022 and continues to review the time frame for achievement of its medium-term targets

Frankfurt/Main, September 13, 2022

Based on current estimates of the expected key financial figures, the Executive Board of KION GROUP AG expects a low triple digit million EUR loss for the third quarter of 2022 on KION Group level and in its Supply Chain Solutions (SCS) segment due to intensifying supply chain shortages as well as significantly higher cost increases for materials, energy and logistics.

On KION Group level, the third quarter 2022 adjusted EBIT is anticipated to be in the range of € -100 to € -140 million (Q3 2021: € 228.9 million). Order intake is expected to be significantly below the third quarter 2021 (Q3 2021: €3.107 billion), with the Supply Chain Solutions segment substantially below the record level of the third quarter 2021 (Q3 2021: € 1.399 billion). Free cash flow will continue to be negative and is expected to be significantly lower than the previous quarter (Q2 2022: € -158.9 million).

The Supply Chain Solutions (SCS) segment is driving much of this development. The adjusted EBIT of the third quarter 2022 in this segment is expected in a range between € -160 and € -190 million (Q3 2021: € 109.3 million). Strong new business inflow in combination with a highly volatile macro-economic environment have intensified internal process inefficiencies. According to initial assessment, root causes for negative impacts on profitability are significantly increased costs of materials, components, labor and logistics for SCS’ multiyear projects which only to a minor portion could be passed on to customers, as well as supply chain disruptions causing delays and reducing the availability of critical parts on project sites. This results in labor inefficiencies and significantly higher total project costs. The availability of skilled labor has increasingly become a limiting factor. These effects are expected to have a significant negative impact on the financial results of the third quarter 2022. SCS’ order intake in the third quarter 2022 is affected by reduced demand from e-commerce customers. Moreover, SCS saw selective order cancellations by customers in July and August. SCS is intensifying its initiatives and adding further substantial steps to improve end-to-end project management processes and project execution to deal with significant volatility in the supply chain. With the long-term nature of the project business, it will take time for these measures to take full effect.

In the Industrial Trucks & Services (ITS) segment, adjusted EBIT in the third quarter 2022 is expected to be close to prior quarter (Q2 2022: € 83.6 million). Shortages of parts and components are expected to continue. The existing measures in ITS, like agile pricing and strengthening the supplier network, have already started to show effect.

Based on current expectations regarding the financial performance of the KION Group in the remainder of the third quarter and the rest of the year, the Executive Board of KION GROUP AG today, September 13, 2022, provided a new outlook for 2022. The previous outlook was withdrawn on April 4, 2022, due to macro-economic uncertainties. The Executive Board currently expects that the key performance indicators of the KION Group and its segments for 2022 will be within the following ranges:

€ million KION Group Industrial Trucks &
Services
Supply Chain Solutions
Order intake1 11,600 – 12,500 8,200 – 8,600 3,400 – 3,900
Revenue1 10,450 – 11,250 6,800 – 7,200 3,650 – 4,050
Adjusted EBIT1 200 – 310 360 – 410 -60 – 0
Free cash flow -950 – -700
ROCE 2.5 % – 3.3 %
1 Disclosure for the Industrial Trucks & Services and Supply Chain Solutions segments also include intra-group cross-segment order intake, revenue and effects on EBIT

Given the ongoing deterioration in the macro-economic environment, the escalating energy crisis as well as persistent supply chain shortages and the risk of further rising procurement costs, the assessment of the performance of the KION Group and its segments over the remainder of the year continues to be subject to considerable uncertainty.

Due to the volatile macro-economic environment, the KION Group is in the process of reviewing the time frame for achieving its medium-term targets.

KION GROUP AG will announce the final results for the third quarter of 2022 as planned on October 27, 2022.

Explanations and reconciliations of the key financial figures used can be found in the Annual Report 2021 of KION GROUP AG (available at https://www.kiongroup.com/en/Investor-Relations/Publications/), in particular on pages 70 et seq.

 

Contact for investors:

Sebastian Ubert
Vice President Investor Relations
Phone +49 (0)69 201 107 329
[email protected]

Raj Junginger
Senior Manager Investor Relations
Telephone +49 (0)69 201 107 942
[email protected]


13-Sep-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: KION GROUP AG
Thea-Rasche-Straße 8
60549 Frankfurt/Main
Germany
Phone: +49 69 20110-0
E-mail: [email protected]
Internet: www.kiongroup.com
ISIN: DE000KGX8881
WKN: KGX888
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1441769

 
End of Announcement DGAP News Service

1441769  13-Sep-2022 CET/CEST

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Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023e
Umsatzerlöse1 7.598,10 7.995,70 8.806,50 8.341,60 10.294,30 11.135,60 11.433,70
EBITDA1,2 1.457,60 1.540,60 1.614,60 1.327,70 1.735,70 1.201,80 1.713,60
EBITDA-Marge3 19,18 19,27 18,33 15,92 16,86 10,79
EBIT1,4 561,00 642,80 716,60 389,90 794,80 168,30 660,60
EBIT-Marge5 7,38 8,04 8,14 4,67 7,72 1,51 5,78
Jahresüberschuss1 422,50 401,60 444,80 210,90 568,00 105,80 314,40
Netto-Marge6 5,56 5,02 5,05 2,53 5,52 0,95 2,75
Cashflow1,7 711,90 765,50 846,30 527,10 881,70 -345,90 1.144,00
Ergebnis je Aktie8 3,68 3,29 3,86 1,81 4,33 0,75 2,33
Dividende8 0,99 1,20 0,04 0,41 1,50 0,19 0,80
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2023 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: KPMG

INVESTOR-INFORMATIONEN
©boersengefluester.de
Kion Group
WKN Kurs in € Einschätzung Börsenwert in Mio. €
KGX888 49,210 Kaufen 6.456,29
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
12,30 22,27 0,56 17,67
KBV KCV KUV EV/EBITDA
1,14 5,64 0,56 4,93
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
Hauptversammlung
0,19 0,70 1,42 29.05.2024
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
25.04.2024 31.07.2024 30.10.2024 29.02.2024
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
13,41% 31,14% 27,26% 44,40%
    
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Maschinen-/Anlagenbau , KGX888 , KGX , XETR:KGX