Business

KION in rapid ascent: Profits tripled and dividends significantly increased

KION on track for success: Profits tripled – Shareholders benefit from a brilliant business performance.

Eulerpool News Feb 29, 2024, 4:00 PM

KION Recorded Remarkable Growth: The Logistics Group Tripled Its Profit Last Year and Now Plans to Share This Success with Shareholders. The company announced in a statement that the dividend will be increased from 0.19 euros per share last year to 0.70 euros. This corresponds to a payout ratio of about 30 percent, which is within the targeted corridor of 25 to 40 percent. But that's not all, as KION has forecasted further profit increases for the new year.

According to KION's future forecasts, revenue in 2024 is expected to be between 11.2 and 12.0 billion euros, after a record value of 11.43 billion euros was already achieved in the previous year. Adjusted EBIT is also expected to rise and range between 790 million and 940 million euros, compared with 790.5 million euros in 2023. Regarding the past fiscal year, KION CEO Rob Smith expressed great satisfaction: "In 2023, we made further important steps towards sustainable and profitable growth along our strategy," he stated according to the announcement.

Here's the translated headline in English:

"Indeed, the adjusted EBIT more than doubled compared to the previous year, and the corresponding margin increased from 2.6 percent to 6.9 percent. The group's profit was also significantly increased to 314 million euros compared to 106 million euros in the previous year. Despite these impressive figures, KION had to report a decline in incoming orders, which fell by 7 percent to 10.9 billion euros."

Please note that this translation provides a sentence-by-sentence equivalent in English and assumes that 'KION' is a proper noun (name of a company), which remains untranslated.

The market still responded positively to the news from KION: The KION stock recorded a temporary increase of 6.93 percent to 46.78 euros in XETRA trading on Thursday. Investors seem to be convinced of the logistics group's future growth potential.

Overall, KION presents itself as a successful company that consistently pursues its strategy and achieves impressive results. With an optimistic forecast for the coming year and a generous dividend increase, KION shows that there is promising growth potential for both shareholders and the company itself.

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