New Risk • Jun 01
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.5% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Declared Dividend • May 20
Dividend reduced to €0.62 Dividend of €0.62 is 24% lower than last year. Ex-date: 29th May 2026 Payment date: 2nd June 2026 Dividend yield will be 1.4%, which is lower than the industry average of 2.6%. Sustainability & Growth Dividend is well covered by both earnings (22% earnings payout ratio) and cash flows (11% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 80% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Tillkännagivande • Oct 14
KION GROUP AG to Report Fiscal Year 2025 Results on Feb 26, 2026 KION GROUP AG announced that they will report fiscal year 2025 results on Feb 26, 2026 Tillkännagivande • May 02
KION GROUP AG Provides Earnings Guidance for the Year 2025 KION GROUP AG provided earnings guidance for the year 2025. For the year, the company expects Revenue to be €10,900 million - €11,700 million. Tillkännagivande • Apr 09
KION GROUP AG Announces Board Changes KION GROUP AG announced the current Chairman of the Supervisory Board, Hans Peter Ring, will not be available for re-election at the Annual General Meeting when his term of office expires on May 27, 2025. The candidate to succeed him is Dr. Mohsen Sohi. Dr. Sohi, born in 1959, is currently CEO of Freudenberg SE and Spokesman of the Board of Management of Freudenberg & Co. Kommanditgesellschaft and has extensive experience in the management of internationally oriented companies. Previously, Dr. Sohi was President and CEO of Freudenberg-NOK General Partnership in Plymouth, Michigan (USA) and held executive positions at NCR Corporation and Honeywell. He holds an MBA from the Wharton School of Management, University of Pennsylvania, Philadelphia (USA) and a Doctor of Science in Mechanical Engineering from Washington University, St. Louis, Missouri (USA). The terms of office of Supervisory Board members Jiang Kui, Dr. Christina Reuter and Xu Ping will also end on 27 May 2025. Jiang Kui is available for a further term. In addition, Dr. Nicolas Peter will resign from his office as a member of the Supervisory Board with effect from the end of the Annual General Meeting on 27 May 2025. Additionally, the election of Dr. Sun Shaojun, who was appointed to the Supervisory Board in October 2024 is on the agenda. Elections of six shareholder representatives to the Supervisory Board are therefore required at the Annual General Meeting. Tillkännagivande • Apr 08
KION GROUP AG, Annual General Meeting, May 27, 2025 KION GROUP AG, Annual General Meeting, May 27, 2025, at 10:00 W. Europe Standard Time. Tillkännagivande • Mar 13
Kion Group Ag Presents Physical Ai Solution At Logimat in Stuttgart The KION Group, as part of a large-scale collaboration with NVIDIA and Accenture to reinvent industrial automation, introduces its first physical AI-powered Omniverse solution at LogiMAT 2025 in Stuttgart, Germany, from March 11- March 13. This milestone demonstrates how AI-driven industrial trucks and digital twins can transform supply chain operations by enhancing efficiency, adaptability, and cost-effectiveness. At LogiMAT, KION subsidiary Linde Material Handling presents a fully integrated goods-in solution, featuring an autonomous mobile robot and a manual truck, both AI-powered. The solution is digitally represented in NVIDIA’s Omniverse, displaying the real-time localizations of the industrial trucks. The on-board and stationary cameras run on NVIDIA hardware, capturing and processing live operational data. The whole solution works in an ever-evolving simulation environment, preparing to optimize vehicle coordination and route planning at scale. Additionally, the trucks include app capabilities that enable continuous software upgrades for functionalities such as enhanced person recognition and obstacle avoidance. As announced in January, the three companies cooperate to leverage physical AI with intelligent stationary cameras, autonomous forklifts, and the latest automation and robotics solutions to create highly realistic, real-time digital twins in NVIDIA’s Omniverse fed by live sensor and camera data. This enables customers to digitally map every asset in their warehouse in real time – from manual forklifts, autonomous robots and the exact locations of goods. Combined with the ability to run an infinite amount of scenarios, this will help customers define ideal layouts for new warehouses and improve warehouse management by predicting peak loads, ensuring worker safety, and more effectively planning the use of resources. Tillkännagivande • Feb 28
KION GROUP AG announces Annual dividend, payable on May 30, 2025 KION GROUP AG announced Annual dividend of EUR 0.8200 per share payable on May 30, 2025, ex-date on May 28, 2025 and record date on May 29, 2025. Reported Earnings • Oct 31
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: €0.55 (down from €0.61 in 3Q 2023). Revenue: €2.70b (down 1.1% from 3Q 2023). Net income: €72.4m (down 9.4% from 3Q 2023). Profit margin: 2.7% (down from 2.9% in 3Q 2023). Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) also missed analyst estimates by 24%. Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has fallen by 28% per year, which means it is performing significantly worse than earnings. Tillkännagivande • Oct 02
KION GROUP AG to Report Fiscal Year 2024 Results on Feb 27, 2025 KION GROUP AG announced that they will report fiscal year 2024 results on Feb 27, 2025 Reported Earnings • Aug 01
Second quarter 2024 earnings released: EPS: €0.52 (vs €0.54 in 2Q 2023) Second quarter 2024 results: EPS: €0.52 (down from €0.54 in 2Q 2023). Revenue: €2.88b (up 1.4% from 2Q 2023). Net income: €68.2m (down 4.2% from 2Q 2023). Profit margin: 2.4% (down from 2.5% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 28% per year whereas the company’s share price has fallen by 26% per year. Upcoming Dividend • May 23
Upcoming dividend of €0.70 per share Eligible shareholders must have bought the stock before 30 May 2024. Payment date: 03 June 2024. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 1.6%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (3.4%). Reported Earnings • Apr 26
First quarter 2024 earnings released: EPS: €0.83 (vs €0.55 in 1Q 2023) First quarter 2024 results: EPS: €0.83 (up from €0.55 in 1Q 2023). Revenue: €2.86b (up 2.8% from 1Q 2023). Net income: €108.8m (up 51% from 1Q 2023). Profit margin: 3.8% (up from 2.6% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 20% per year, which means it has not declined as severely as earnings. New Risk • Mar 04
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 62% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. This is currently the only risk that has been identified for the company. Reported Earnings • Mar 01
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: €2.33 (up from €0.75 in FY 2022). Revenue: €11.4b (up 2.7% from FY 2022). Net income: €305.8m (up 212% from FY 2022). Profit margin: 2.7% (up from 0.9% in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 8.7%. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Reported Earnings • Oct 27
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: EPS: €0.61 (down from €0.73 in 3Q 2022). Revenue: €2.73b (flat on 3Q 2022). Net income: €79.9m (down 16% from 3Q 2022). Profit margin: 2.9% (down from 3.5% in 3Q 2022). Revenue missed analyst estimates by 3.5%. Earnings per share (EPS) also missed analyst estimates by 16%. Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Tillkännagivande • Oct 17
KION GROUP AG to Report Q4, 2023 Results on Feb 29, 2024 KION GROUP AG announced that they will report Q4, 2023 results on Feb 29, 2024 New Risk • Jul 28
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.7% Last year net profit margin: 4.0% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.9x net interest cover). Minor Risk Profit margins are more than 30% lower than last year (0.7% net profit margin). Reported Earnings • Jul 28
Second quarter 2023 earnings released: EPS: €0.54 (vs €0.85 loss in 2Q 2022) Second quarter 2023 results: EPS: €0.54 (up from €0.85 loss in 2Q 2022). Revenue: €2.84b (up 1.2% from 2Q 2022). Net income: €71.2m (up €182.7m from 2Q 2022). Profit margin: 2.5% (up from net loss in 2Q 2022). The move to profitability was primarily driven by lower expenses. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 18% per year whereas the company’s share price has fallen by 17% per year. Buying Opportunity • Jul 24
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 3.9%. The fair value is estimated to be €43.69, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has declined by 21%. For the next 3 years, revenue is forecast to grow by 3.4% per annum. Earnings is also forecast to grow by 30% per annum over the same time period. Buying Opportunity • Jul 06
Now 21% undervalued Over the last 90 days, the stock is up 8.0%. The fair value is estimated to be €45.19, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has declined by 21%. For the next 3 years, revenue is forecast to grow by 3.4% per annum. Earnings is also forecast to grow by 30% per annum over the same time period. Valuation Update With 7 Day Price Move • Jul 01
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €37.06, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 12x in the Machinery industry in Germany. Total loss to shareholders of 29% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €45.61 per share. Upcoming Dividend • May 11
Upcoming dividend of €0.19 per share at 0.5% yield Eligible shareholders must have bought the stock before 18 May 2023. Payment date: 22 May 2023. Payout ratio is a comfortable 27% but the company is not cash flow positive. Trailing yield: 0.5%. Lower than top quartile of German dividend payers (4.6%). Lower than average of industry peers (2.9%). Reported Earnings • Apr 28
First quarter 2023 earnings: EPS and revenues exceed analyst expectations First quarter 2023 results: EPS: €0.55 (down from €0.61 in 1Q 2022). Revenue: €2.78b (up 1.7% from 1Q 2022). Net income: €72.1m (down 9.3% from 1Q 2022). Profit margin: 2.6% (down from 2.9% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.1%. Earnings per share (EPS) also surpassed analyst estimates by 48%. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Reported Earnings • Mar 06
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: EPS: €0.75 (down from €4.34 in FY 2021). Revenue: €11.1b (up 8.2% from FY 2021). Net income: €98.0m (down 83% from FY 2021). Profit margin: 0.9% (down from 5.5% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) missed analyst estimates by 17%. Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improved over the past week After last week's 17% share price gain to €31.88, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 13x in the Machinery industry in Germany. Total loss to shareholders of 45% over the past three years. Price Target Changed • Nov 16
Price target decreased to €36.15 Down from €42.59, the current price target is an average from 18 analysts. New target price is 32% above last closing price of €27.31. Stock is down 73% over the past year. The company is forecast to post earnings per share of €0.71 for next year compared to €4.34 last year. Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment improved over the past week After last week's 19% share price gain to €28.14, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 12x in the Machinery industry in Germany. Total loss to shareholders of 51% over the past three years. Price Target Changed • Nov 11
Price target decreased to €36.15 Down from €43.26, the current price target is an average from 18 analysts. New target price is 33% above last closing price of €27.19. Stock is down 73% over the past year. The company is forecast to post earnings per share of €0.74 for next year compared to €4.34 last year. Reported Earnings • Oct 30
Third quarter 2022 earnings released: EPS: €0.73 (vs €1.04 in 3Q 2021) Third quarter 2022 results: EPS: €0.73 (down from €1.04 in 3Q 2021). Revenue: €2.71b (up 5.5% from 3Q 2021). Net income: €95.2m (down 30% from 3Q 2021). Profit margin: 3.5% (down from 5.3% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.3% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Machinery industry in Germany. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 28% per year, which means it is performing significantly worse than earnings. Price Target Changed • Oct 11
Price target decreased to €44.11 Down from €48.11, the current price target is an average from 18 analysts. New target price is 123% above last closing price of €19.82. Stock is down 76% over the past year. The company is forecast to post earnings per share of €1.14 for next year compared to €4.34 last year. Price Target Changed • Oct 04
Price target decreased to €46.72 Down from €51.39, the current price target is an average from 18 analysts. New target price is 134% above last closing price of €19.94. Stock is down 75% over the past year. The company is forecast to post earnings per share of €1.43 for next year compared to €4.34 last year. Price Target Changed • Sep 14
Price target decreased to €56.58 Down from €64.50, the current price target is an average from 19 analysts. New target price is 78% above last closing price of €31.80. Stock is down 62% over the past year. The company is forecast to post earnings per share of €2.72 for next year compared to €4.34 last year. Valuation Update With 7 Day Price Move • Sep 14
Investor sentiment deteriorated over the past week After last week's 16% share price decline to €31.80, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 10x in the Machinery industry in Germany. Total loss to shareholders of 32% over the past three years. Reported Earnings • Jul 29
Second quarter 2022 earnings: Revenues and EPS in line with analyst expectations Second quarter 2022 results: EPS: €0.60 (down from €1.17 in 2Q 2021). Revenue: €2.80b (up 8.1% from 2Q 2021). Net income: €78.9m (down 49% from 2Q 2021). Profit margin: 2.8% (down from 5.9% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Over the next year, revenue is forecast to grow 5.9%, compared to a 10% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 3% per year. Price Target Changed • Jul 05
Price target decreased to €73.11 Down from €78.84, the current price target is an average from 19 analysts. New target price is 79% above last closing price of €40.94. Stock is down 55% over the past year. The company is forecast to post earnings per share of €3.35 for next year compared to €4.34 last year. Price Target Changed • Mar 30
Price target decreased to €96.82 Down from €108, the current price target is an average from 19 analysts. New target price is 53% above last closing price of €63.30. Stock is down 25% over the past year. The company is forecast to post earnings per share of €4.72 for next year compared to €4.34 last year. Reported Earnings • Mar 04
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: €4.34 (up from €1.81 in FY 2020). Revenue: €10.3b (up 23% from FY 2020). Net income: €568.3m (up 164% from FY 2020). Profit margin: 5.5% (up from 2.6% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 11%. Over the next year, revenue is forecast to grow 8.2%, compared to a 11% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Reported Earnings • Oct 27
Third quarter 2021 earnings released: EPS €1.04 (vs €0.72 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €2.57b (up 24% from 3Q 2020). Net income: €136.7m (up 60% from 3Q 2020). Profit margin: 5.3% (up from 4.1% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Reported Earnings • Jul 30
Second quarter 2021 earnings released: EPS €1.17 (vs €0.13 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €2.59b (up 37% from 2Q 2020). Net income: €153.5m (up €168.3m from 2Q 2020). Profit margin: 5.9% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Upcoming Dividend • May 05
Upcoming dividend of €0.41 per share Eligible shareholders must have bought the stock before 12 May 2021. Payment date: 17 May 2021. Trailing yield: 0.5%. Lower than top quartile of German dividend payers (3.1%). Lower than average of industry peers (1.1%). Reported Earnings • Apr 30
First quarter 2021 earnings released: EPS €1.04 (vs €0.58 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: €2.38b (up 17% from 1Q 2020). Net income: €136.7m (up 99% from 1Q 2020). Profit margin: 5.8% (up from 3.4% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Mar 10
New 90-day high: €77.96 The company is up 15% from its price of €68.00 on 10 December 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €157 per share. Reported Earnings • Mar 03
Full year 2020 earnings released: EPS €1.81 (vs €3.86 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €8.34b (down 5.3% from FY 2019). Net income: €215.3m (down 53% from FY 2019). Profit margin: 2.6% (down from 5.2% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Mar 03
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 6.4%. Over the next year, revenue is forecast to grow 11%, compared to a 5.4% growth forecast for the Machinery industry in Germany. Is New 90 Day High Low • Nov 19
New 90-day low: €66.96 The company is down 2.0% from its price of €68.44 on 21 August 2020. The German market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Machinery industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €61.32 per share. Analyst Estimate Surprise Post Earnings • Oct 30
Third-quarter earnings released: Revenue and earnings beat expectations Third-quarter revenue exceeded analyst estimates by 0.9% at €2.07b. Earnings per share (EPS) also surpassed analyst estimates by 61% at €0.72. Revenue is forecast to grow 8.0% over the next year, while the growth in Machinery industry in Germany is expected to stay flat. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total profits of €254.6m, down 48% from the prior year. Total revenue was €8.28b over the last 12 months, down 5.3% from the prior year. Is New 90 Day High Low • Oct 02
New 90-day high: €76.74 The company is up 40% from its price of €54.94 on 03 July 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €68.21 per share. 
