Research and development
R&D expenditure in the first half of 2024 went up by 13.0 percent year on year to €184.0 million (H1 2023: €162.8 million). This equates to 3.2 percent of revenue (H1 2023: 2.9 percent). R&D costs totaling €125.7 million were recognized directly as expenses in the income statement (H1 2023: €110.7 million). There were also amortization charges on capitalized development costs of €58.9 million (H1 2023: €60.3 million), which are reported under cost of sales.
in € million |
Q2 |
Q2 |
Change |
Q1 – Q2 |
Q1 – Q2 |
Change |
|---|---|---|---|---|---|---|
Research and development costs (P&L) |
62.9 |
56.0 |
12.3% |
125.7 |
110.7 |
13.6% |
Capitalized development costs |
29.5 |
26.9 |
9.3% |
58.4 |
52.2 |
11.9% |
Total R&D spending |
92.4 |
82.9 |
11.3% |
184.0 |
162.8 |
13.0% |
R&D spending as percentage of revenue |
3.2% |
2.9% |
– |
3.2% |
2.9% |
– |
Focus of R&D in the first six months of 2024
Under the KION 2027 strategy, research and development is set up so as to support the KION Group’s position as a leading global supplier of industrial trucks (based on the number of units sold) and of integrated and sustainable supply chain solutions and mobile automation solutions (based on revenue). In addition to continuous innovation geared to the needs of customers, another objective of the R&D activities is to reduce the complexity and diversity of the product range and to shorten development times for new products. The KION Group is forging ahead also with the development and refinement of energy-efficient drive solutions, from internal combustion engines to various electric drive systems and fuel cells. For example, it is working on solutions for the entire lithium-ion battery lifecycle, including charging management, reconditioning, and recycling.