DGAP-Ad-hoc: KION GROUP AG / Key word(s): Change in Forecast
DISCLOSURE OF INSIDE INFORMATION PURSUANT TO ARTICLE 17 OF REGULATION (EU) NO. 596/2014
KION GROUP AG
60549 Frankfurt am Main
KION Group raises outlook for fiscal year 2021
Frankfurt/Main, 26 July 2021
In the first half of 2021, the results achieved by the KION Group in all key performance indicators were significantly better than in its original forecast. For this reason, in conjunction with the current positive projections for global economic growth over the year as a whole, in particular, the fact that the KION Group's upturn in revenue looks set to continue for the remainder of the year, the Executive Board of KION GROUP AG today decided to raise the target figures for 2021 that it published in its 2020 outlook on 2 Mach 2021. The only exceptions here are the Group's free cash flow as well as order intake in the Supply Chain Solutions (SCS) segment, where the target ranges remain unchanged.
On the basis of the preliminary figures for the second quarter of 2021 and an updated financial planning for the entire fiscal year 2021, the Executive Board expects the KION Group as a whole and its segments Industrial Trucks & Services (ITS) and Supply Chain Solutions (SCS) to achieve their key performance indicators in the following ranges in the fiscal year 2021:
(*) The figures for the segments Industrial Trucks & Services (ITS) and Supply Chain Solutions (SCS) also include intragroup, cross-segment order intake, revenue and EBIT effects.
In view of the unpredictability of the further course of the Corona pandemic and the risks in the development of end markets and raw material prices, as well as with regard to the availability of intermediate products, there are still considerable uncertainties in the assessment of the Group's business performance for the remainder of the fiscal year 2021. The adjustments to the guidance for the fiscal year 2021 are based on the assumption that there will be no more far-reaching lockdown measures or plant closures in the course of the year, and that the availability of intermediate products will not tighten further. An economic downturn in key sales markets and/or a worsening of procurement risks could cause the KION Group's performance and financial results to deviate in such case significantly from the outlook.
All statements contained in this release are based on projecting our preliminary first half year 2021 financial results into the future (at group level, preliminary revenue amounts to around € 4.97 billion and preliminary EBIT adjusted to € 462 million). Final financial results of the first half year 2021 will be published in the interim report as of 30 June 2021 on 29 July 2021.
Explanations and reconciliations of key financial figures used can be found in the KION GROUP AG's Annual Report 2020 (available at https://www.kiongroup.com/en/Investor-Relations/Publications/), especially on pages 56 et. seq., 71 et. seq. and 85.
26-Jul-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||KION GROUP AG|
|Phone:||+49 69 20110-0|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1221769|
|End of Announcement||DGAP News Service|
1221769 26-Jul-2021 CET/CEST