Outlook

Expected sectoral conditions

Based on revised market expectations for the full year 2026, KION now expects order numbers in the global industrial truck market to increase strongly year on year, supported by strong growth across all regions. In the interim report for the second quarter of 2026, substantial growth was still projected. In value terms, market growth is expected to remain below unit-based growth. This is due to the continued shift in the product mix toward lower-priced warehouse trucks compared with counterbalance trucks, as well as a general shift in customer demand toward lower-priced segments.

Supported by market research from Interact Analysis (April 2026), KION continues to anticipate that the global volume in the warehouse automation market (as measured by order intake) will rise strongly in 2026.

The market outlook for 2026 remains subject to continued macroeconomic and geopolitical uncertainties as well as heightened market volatility.

Expected business situation and financial performance of the Group

In view of business performance in the third quarter, the Executive Board of KION GROUP AG revised its previous outlook for 2026 for the Group and the two operating segments on October 14, 2026 table ‘Outlook 2026’. The changes are mainly attributable to order intake in the Industrial Trucks & Services segment, which did not perform as anticipated in the third quarter. The expectations for the Group’s core key performance indicators have been reduced as a result of the lower targets in the Industrial Trucks & Services segment. The outlook for the Intelligent Automation Solutions segment has been narrowed within the previous forecast ranges.

In light of the revised outlook for 2026 and the prevailing market conditions, the Executive Board of KION GROUP AG now expects to achieve its medium-term target of a double-digit adjusted EBIT margin for the Group and for the two operating segments only after 2027.