KION GROUP AG Projects Lower Q2/2024 Net Income Than Expected

Frankfurt/Main, 10 July 2024 – KION GROUP AG has announced that its consolidated net income for Q2/2024 is expected to fall below market expectations. This projection follows a EUR 22 million goodwill impairment for the KION ITS Americas unit within the Industrial Trucks & Services (ITS) segment.

As a result, the company anticipates a consolidated net income before minorities of approximately EUR 69 million for the second quarter of 2024, against a market consensus of EUR 93 million as per Vara Research. This impairment will also affect the full-year consolidated net income before minorities by the same amount.

All figures are preliminary and unaudited. KION GROUP AG will release its final results for the second quarter on July 31, 2024. Further details can be found in their Annual Report 2023.