Comparison between actual and forecast performance

Upon publication of the quarterly statement for the third quarter of 2025, the Executive Board of KION GROUP AG provided more specific details for the outlook for 2025 that it had published in the 2024 annual report. The expected levels of revenue, adjusted EBIT, and ROCE were firmed up within the original target ranges, both for the Group and for the two operating segments. In addition, the outlook for the Group’s free cash flow was raised. This was because a material proportion of the non-recurring expenses from implementation of the efficiency program is not expected to impact on cash flow until the first quarter of 2026. Moreover, these expenses are likely to be significantly lower than originally anticipated.

Consolidated revenue amounted to €11,297.2 million, which was within the projected range of €11,100 million to €11,400 million. This was also the case for the KION Group’s adjusted EBIT, which reached €788.6 million and was thus in the middle of the projected range of €760 million to €820 million. The Group’s free cash flow came to €709.5 million, which was slightly higher than the raised target range of €600 million to €700 million. At 7.7 percent, ROCE was in the middle of the projected range of 7.4 percent to 8.0 percent.

With revenue of €8,272.5 million, the Industrial Trucks & Services segment reached the top half of the projected range of €8,100 million to €8,300 million. Its adjusted EBIT of €721.8 million was in the middle of the projected range of €700 million to €740 million.

The Supply Chain Solutions segment generated revenue of €3,071.4 million, which was within the target range of €3,000 million to €3,100 million. Adjusted EBIT came to €183.2 million, which was in line with the projected range of €170 million to €200 million.