KION

KION reports that the forklift business is lagging market growth, especially in the premium segment. Third-quarter order intake fell by almost 1% to around €2.7 billion, even though unit volumes rose in the first nine months. Adjusted EBIT and the quarterly profit were down year-on-year, and management lowered the annual forecast; the targeted double-digit operating margin is now expected only after 2027. Demand in the Asia-Pacific region grew strongly but is mostly for lower-priced models, which weighs on value performance. » More on finanzen.net

KION reports that its forklift segment could not keep pace with the growing market, especially in the higher-priced sector. Order intake in the third quarter fell by just under 1 percent to around €2.7 billion. Quarterly profit was about €102 million, roughly 15 percent below the prior year. In mid‑October KION lowered its full-year forecast and pushed back the target of a double-digit margin. » More on finanzen.net

Kion cannot keep pace with the growing market in its forklift business, particularly in the higher-priced segment. In the third quarter, order intake fell by just under 1% to around €2.7 billion; operating profit was about €102 million, roughly 15% below the prior year. The company confirmed preliminary figures, had already cut its full-year forecast and is postponing the target of a double-digit margin. » More on finanzen.net

Kion has lowered its forecast for the current year and said its original medium-term targets are no longer achievable. The reason is a disappointing order intake in the forklift segment in the third quarter; preliminary Q3 figures were below market expectations. The stock recovered quickly after initial losses. » More on finanzen.net

Kion shares climbed nearly 6% to around €48 following a buy recommendation from Citigroup, reaching their highest price since May. Citi analyst Martin Wilkie sets a €62 price target and sees potential from AI in warehouse automation as well as a recovering forklift cycle. He also expects support in 2027 from a German investment package and considers competition from China in the high-end segment exaggerated. Rival Jungheinrich also rose and received a buy recommendation from Citi. » More on de.investing.com