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In the first nine months of the fiscal year 2025, KION’s results overall met expectations. With increasing customer demand in the third quarter, the positive trend from the first two quarters of the year continued. The order intake amounted to €8.882 billion (2024: €7.506 billion), significantly exceeding the previous year’s figure. Revenue in both operational segments slightly declined due to the lower order backlog at the beginning of 2025.
(Frankfurt) “KION has increased order intake in both operational segments in a still challenging macroeconomic and geopolitical environment and made significant progress in implementing the efficiency program,” says Rob Smith, CEO of KION GROUP AG. “Due to our solid performance since the beginning of the year, we have refined our forecast and raised our outlook for free cash flow for 2025.”
The order intake for Industrial Trucks & Services rose by 7.3 percent to €5.970 billion (2024: €5.566 billion), driven by new business in counterbalance forklifts and warehouse technology as well as ongoing growth in the service business. The significant increase in order intake for Supply Chain Solutions of 50.5 percent to €2.941 billion (2024: €1.955 billion) was supported by strong momentum in project business and continued growth in the service business.
Revenue Decreased by 2.8 Percent
Group revenue in the first nine months of 2025 slightly decreased by 2.8 percent to €8.200 billion compared to the previous year (2024: €8.435 billion). In the Industrial Trucks & Services segment, revenue fell by 3.6 percent to €6.079 billion (2024: €6.305 billion), primarily due to the normalization of the order backlog. Revenue in the Supply Chain Solutions segment marginally decreased by 0.3 percent to €2.154 billion (2024: €2.161 billion) in the first nine months. Due to the recovering order intake, revenue in project business significantly increased in the third quarter of the fiscal year.
The adjusted EBIT at the group level amounted to €575.4 million (2024: €666.7 million), corresponding to an adjusted EBIT margin of 7.0 percent (2024: 7.9 percent). In the Industrial Trucks & Services segment, adjusted EBIT decreased to €529.5 million (2024: €672.9 million) with an adjusted EBIT margin of 8.7 percent (2024: 10.7 percent), mainly due to lower volumes and a decline in gross margin compared to the previous year. Supply Chain Solutions significantly increased adjusted EBIT to €126.0 million compared to the previous year (2024: €70.5 million), with an adjusted EBIT margin of 5.8 percent (2024: 3.3 percent). Key drivers for the increase in profitability were ongoing growth in the service business and solid project execution.
The group result amounted to €167.1 million (2024: €255.6 million) and was significantly influenced by one-time and special effects during the reporting period. With €392.8 million (2024: €431.3 million), free cash flow remained at a high level. As published on Thursday, October 23, the one-time expenses for the efficiency program are expected to be lower than originally anticipated, at approximately €170 to €190 million (previously: €240 to €260 million). The savings target remains virtually unchanged at €140 to €150 million.
2025 Forecast Refined
Based on the business development in the reporting period, the Executive Board of KION GROUP AG has refined its forecast for the fiscal year 2025 regarding the key performance indicators of revenue, adjusted EBIT, and ROCE, as published in the 2024 annual report. The expectations for the group as well as the two operational segments have been specified within the originally indicated forecast ranges.
Furthermore, the Executive Board of KION GROUP AG has raised the forecast for the group’s free cash flow. This is due to the fact that a significant portion of the one-time expenses from the implementation of the efficiency program is expected to become cash-effective only in the first quarter of 2026 and will also be lower in total, at approximately €170 to €190 million, than originally expected (previously: €240 to €260 million).
However, this assessment of the expected business development of the group and the operational segments is subject to the condition that KION’s supply chains are not significantly affected by trade barriers, particularly tariffs and access restrictions for critical raw materials.
Photo: © KION
