Comparison between actual and forecast performance

As the earnings performance of the Industrial Trucks & Services segment was exceeding expectations, the Executive Board of KION GROUP AG updated its outlook for 2023 over the course of the year, doing so for the final time on October 13, 2023. It raised the projections that had been published in the outlook section of the 2022 annual report for revenue, adjusted EBIT, free cash flow, and return on capital employed (ROCE), which are the core key performance indicators for the Group. With regard to the operating segments, the figures forecast for revenue and adjusted EBIT in the Industrial Trucks & Services segment were adjusted upward, whereas the corresponding numbers for the Supply Chain Solutions segment were downgraded.

The Group achieved the projections made in the most recently updated outlook for 2023 as a whole across the board. At €11.4 billion, revenue came in higher than the projected minimum figure of €11.2 billion. Adjusted EBIT amounted to €790.5 million, exceeding the minimum of €780 million in the outlook. The free cash flow of €715.2 million was also higher than the target figure of at least €660 million. ROCE was 7.7 percent, compared with the projected minimum of 7.0 percent.

At €8.5 billion, revenue in the Industrial Trucks & Services segment slightly exceeded the minimum of €8.2 billion in the outlook. Adjusted EBIT was also higher than the target figure of at least €830 million, reaching €848.5 million.

The Supply Chain Solutions segment’s revenue of €3.0 billion matched the projected minimum figure. However, its adjusted EBIT of €44.3 million was below the projected minimum of €55 million because the overall costs of certain customer projects were higher than expected.