KION Group achieves record order intake and revenue

The value of its order intake amounted to a record €12.482 billion, which was almost a third (32.2 percent) higher than the figure for the previous year (2020: €9.443 billion). Consolidated revenue rose by 23.4 percent to €10.294 billion in 2021 (2020: €8.342 billion), thereby exceeding the €10 billion threshold for the first time. Adjusted EBIT rose at an even faster rate as a result of increased volumes and the savings from efficiency and cost measures, jumping by 53.9 percent to €841.8 million (2020: €546.9 million). The adjusted EBIT margin improved substantially to 8.2 percent (2020: 6.6 percent), though it still has some way to go to reach pre-pandemic levels. Greatly increased material prices and logistics costs as well as inefficiencies resulting from supply and resource bottlenecks had a negative impact on margins. At €568.0 million, net income greatly exceeded the figure for 2020 (€210.9 million) and was also higher than in 2019.

Basic earnings per share rose to €4.34 (2020: €1.81) based on an average number of 131.1 million (2020: 118.9 million) no-par-value shares. KION GROUP AG will propose the distribution of a dividend of €1.50 per share to the 2022 Annual General Meeting (2020: €0.41). The number of employees worldwide (full-time equivalents) rose by 3,395 (9.4 percent) to 39,602 in the course of the year.

The KION Group forged ahead with its capital expenditure projects in both segments in order to continue driving its global growth. The sustained expansion of business in China is a key part of the KION Group’s growth strategy. Just at the end of last year, the Group announced that it was building a new plant for supply chain solutions in Jinan in China’s Shandong province. The new plant will be used to manufacture items such as rack systems for the Multishuttle system of KION’s subsidiary Dematic, components for automated guided vehicle systems, and conveyor systems. This automation solutions plant is scheduled to come on stream in the first quarter of 2023. It is situated right next to the additional plant for counterbalance trucks that the KION Group officially opened in December 2021. The KION Group plans to create more than 1,000 new jobs in Jinan in the medium term.

As well as expanding in Asia, the Group continues to grow in Europe. Last year, the KION Group brought on stream a new state-of-the-art industrial truck plant in Kołbaskowo near Szczecin in Poland. The KION Group plans to create up to 400 jobs at the Polish site by the end of 2023.

It also intends to expand its site in Kahl am Main, Germany, where an ultra-modern parts warehouse with high-bay storage facilities and automated, digitalized, and intelligently networked processes is to be built. Known as the Regional Distribution Center Kahl, the warehouse will occupy a total area of around 31,000 square meters.

The KION Group has set itself the goal for 2022 of maintaining the profitable growth generated in 2021 and growing at a faster rate than the global material handling market.

Order intake in the Industrial Trucks & Services segment is expected to be lower than in 2021 because the global market for industrial trucks is likely to contract. However, revenue is predicted to rise sharply, supported by the strength of the order book at the end of 2021. Furthermore, the KION Group will forge ahead with capital expenditure on creating more capacity – in places such as China (Jinan) and eastern Europe – and expand its service activities as a means of generating additional business along the product lifecycle. It also plans to achieve further efficiency gains, in part by relocating the manufacturing of products to other sites.

In the Supply Chain Solutions segment, the Company intends to maintain its growth by focusing heavily on highly promising market segments in warehouse automation, software, and robotics solutions. To this end, it will expand the services provided throughout the lifecycle of customers’ equipment and technology. Additional production capacity and the expansion of project-related personnel resources will support this growth. In addition, the Company is looking to improve the gross margin through a greater degree of standardization and greater efficiency in the delivery of projects.

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