EQS-Adhoc: KION GROUP AG: Efficiency program with impact on 2025 financial year; preliminary group results for 2024 financial year

Disclosure of Inside Information pursuant to 
ARTICLE 17 OF REGULATION (EU) NO. 596/2014

KION GROUP AG
Thea-Rasche-Straße 8
60549 Frankfurt am Main
ISIN DE000KGX8881
 

Frankfurt/Main, February 4, 2024
 

At its meeting today, the Executive Board of KION GROUP AG resolved an efficiency program for sustaining the Company’s competitiveness and maintaining headroom for future investments. The aim is to achieve sustainable cost savings of around EUR 140 to 160 million per year, fully effective in the 2026 financial year.

To achieve this goal, organizational structures shall be adapted and work processes shall be made more efficient. This is expected to have an impact on personnel requirements subject to consultations with the respective employee representative bodies as required by local laws.

For the implementation of the cost saving measures one-off expenses in the amount of approximately EUR 240 to 260 million are expected in the financial year 2025. The vast majority of these are expected to be cash-effective in the 2025 financial year.

As a result, the free cash flow and the net income* for the financial year 2025 will fall short of market expectations.

The preliminary and unaudited group results for the 2024 financial year are slightly above expectations:

KION GROUP AG will publish the final group results for the fourth quarter and the 2024 financial year 2024 and the detailed outlook for the 2025 financial year as planned on 27 February 2025.
 

Explanations of the key financial figures used can be found in the Annual Report 2023 of KION GROUP AG (https://www.kiongroup.com/en/Investor-Relations/Publications/), especially on p. 75 ff.
 

*The net income is the net income attributable to the shareholders of KION GROUP AG.

Contact for investors:

Markus Georgi
Senior Vice President Investor Relations
KION Group Communications
Phone +49 (0)69 201 107 414
markus.georgi@kiongroup.com

Raj Junginger
Senior Manager Investor Relations
Phone +49 (0)69 201 107 942
raj.junginger@kiongroup.com