The intralogistics group (Linde MH, Still, OM, Baoli, Dematic) has completely ceased its business activities in Russia. The forklift truck business was discontinued as part of a management buyout, and the supply chain segment was wound down. Revenue will not be affected.
According to the latest figures from the first half of the year, Kion further increased its profitability thanks to strong momentum, particularly in the Industrial Trucks & Services (ITS) segment. The improved supply chain situation and the successful measures implemented to enhance corporate and operational agility were key reasons for the positive result. Profit before taxes rose by 11.7 percent compared to the previous year, and revenue increased by 1.5 percent. Group revenue thus grew to €5.617 billion (previous year: €5.537 billion). The service share increased to 44.3 percent (previous year: 40.5 percent).
CEO R. Smith
The 19.9% increase in revenue in the ITS segment to €4.135 billion (previous year: €3.445 billion) resulted primarily from improved material availability. The price increases from the previous year also had a positive impact. Revenue in the service business increased thanks to growing volumes in all service categories.
In contrast, revenue in the Supply Chain Solutions (SCS) segment declined by 28.6 percent to €1.497 billion (previous year: €2.096 billion). This was primarily attributed to subdued customer demand in the project business (Business Solutions) in recent quarters. Conversely, revenue in the service business increased by a further 13.5 percent – a result "very pleasing" described
Photos: Kion
For the Supply Chain Solutions segment, a noticeable increase in revenue and an improved adjusted EBIT are expected for the second half of the year compared to the first six months of 2023, due to the increasing proportion of higher-margin customer projects in the order book.
