Revenue up slightly, to €11.503 billion (2023: €11.434 billion)

Strong adjusted EBIT, to €917.2 million (2023: €790.5 million)

Adjusted EBIT margin, 8.0% (2023:6.9%)

Free cash flow, €702 million (2023: €715.2 million)

Proposed dividend, €0.82 per share (2023: €0.7)

KION Group presented its 2024 financial results at its headquarters in Frankfurt on February 27. The Company's fiscal year 2024 was marked by stable operations and strong performance - revenue increased slightly to €11.503 billion (2023: €11.434 billion); adjusted EBIT increased significantly to €917.2 million (2023: €790.5 million); adjusted EBIT margin increased to 8.0% (2023:6.9%); free cash flow reached €702 million (2023: €715.2 million) driven by strong results and significantly lower net working capital; consolidated net income increased year-on-year rising to 369.2 million euros (2023:314.4 million euros).

KION Group CEO Rob Smith at the press conference

"Since 2022, when we were impacted by significant inflation and significant supply chain disruptions, we have come a long way across our two operating units and at group level. The agility measures we implemented in both the operational and commercial sectors and our strategic focus on innovation, digitalization and artificial intelligence proved successful, leading to a strong performance in 2024. Over the past two years, adjusted EBIT margins for ITS have successfully returned to double-digit levels, and margins for SCS have continued to improve. With our recently launched efficiency initiatives and consistent strategy, we are on track to achieve an EBIT margin of more than 10% for KION Group and both operating units by the end of our current strategic plan, which is 2027." said Rob Smith, Chief Executive Officer of KION Group.

Revenue from ITS sector increased by 1.5% to 8.609 billion euros (2023:8.48 billion euros), driven by the services business. SCS sector revenue declined 1.8% to €2,943 million (2023: €2,997 million) due to lower orders in the project business (commercial solutions) in recent quarters, but the services segment (customer service) continued to grow.

ITS sector achieved an adjusted EBIT margin of 10.7% (2023:10.0%) and adjusted EBIT of 917.5 million euros (2023:848.5 million euros). SCS sector posted an adjusted EBIT margin of 3.8 percent, more than double that of the previous fiscal year (2023:1.5 percent), and adjusted EBIT reached 112.9 million euros (2023:44.3 million).

KION shareholders stand to benefit from strong results in FY2024. The Executive Board and Supervisory Board of KION will propose at the Annual General Assembly on 27 May 2025 a dividend of €0.82 per share (2023: €0.7) for the FY2024, bringing the total dividend payout to €107.5 million. Based on FY2024 earnings per share of €2.75, the payout ratio would be approximately 30%, in line with the target payout of 25% to 40%.