An AGM as a purely online format, lacking the physical presence of shareholders; score another ‘first’ for KION GROUP AG. "The decision to forego an in-person event was not an easy one. Yet, we are convinced that it will help us prevent the further spreading of the coronavirus. These past few months of coping with the pandemic have been extremely challenging for our more than 35,000 employees. However, health and safety are still our top priority and, naturally, this also applies to everyone involved in the AGM," noted Gordon Riske, CEO of KION GROUP AG.
In his speech, the CEO emphasized the important role of the leading intralogistics provider in maintaining public supply. "Our customers can rely on us; always and at any time". The industrial trucks from KION brands Linde, STILL, Baoli and OM as well as the material handling solutions from Dematic – despite the pandemic’s disruption - continue to ensure efficient supply processes in system-relevant industries such as food production or healthcare. "We are helping to cover the most crucial basic needs of the global population."
Looking back on fiscal year 2019, KION Group not only achieved its targets, but in some areas, it even significantly exceeded them - and this in an increasingly difficult industry environment characterized by macroeconomic challenges, a Brexit several times postponed, trade disputes and the introduction of bilateral protective tariffs. "We have a very robust business model and a high degree of resilience; a key objective of our successful KION 2027 strategy," emphasized Riske.
Riske was also confident about the future. The key drivers of KION Group's business not only remain intact, but in some cases, they have even intensified, such as the rapidly growing trend among consumers towards online shopping. "As a Group, we have succeeded – at least in part – in offsetting the difficult business development in the material handling equipment segment caused by COVID-19 with growth in the automation systems business," explained Riske, looking ahead to the current fiscal year and the recently published preliminary figures for the year’s second quarter. "Between April and June, we generated positive operating earnings - EBIT adjusted - in both segments, which shows that as a full-range supplier with strong roots on the multiple continents where we operate, we can take advantage of unprecedented opportunities even during a pandemic."
Additional information on the 2019 Annual General Meeting and KION Group’s performance can be found here: AGM 2020 Press Release
