Kion Group Ag · XETR:KGX
Kion — Q4 2024 Earnings Presentation
28 slides from Kion's earnings presentation, Feb 27, 2025
Slide 1: KION GROUP AG Q4 and FY 2024 Update Call
KION GROUP AG Q4 and FY 2024 Update Call Rob Smith (CEO), Christian Harm (CFO) Frankfurt, 27 February 2025
Slide 2: Agenda
Agenda 1. Summary FY 2024 & Business Update 2. Financial Update 3. Outlook 2025 & Key Takeaways 2
Slide 3: FY 2024 Key Financial Figures
FY 2024 Key Financial Figures Further strong improvement in profitability driven by both operating segments Order intake Revenue Adj. EBIT1 Free cash flow EPS DPS2 €10.3bn €11.5bn €917m €702m €2.75 €0.82 -5% yoy +1% yoy +16% yoy -€13m yoy +18% yoy ~30% payout ratio ~€108m payout Adj. EBIT Margin 8.0
Slide 4: The Supply Chain Solutions Company
KION Group is The Supply Chain Solutions Company Our people’s passion is innovating, automating, and orchestrating solutions for our customers’ supply chains. KION brands keep the world moving. KION GROUP AG | Q4 and FY 2024 Update Call | 27 February 2025
Slide 5: Playing to Win Strategy
Playing to Sustainable Innovation Win Performance & Growth Strategy Organizational Development 5 KION GROUP AG | Q4 and FY 2024 Update Call | 27 February 2025
Slide 6: KION is reshaping the warehouse of the future
KION is reshaping the warehouse of the future Collaboration with NVIDIA and Accenture Together, we’re envisioning how robotics, physical AI and digital twins can shape the warehouse of the future. KION GROUP AG | Q4 and FY 2024 Update Call | 27 February 2025
Slide 7: Agenda
Agenda 1. Summary FY 2024 & Business Update 2. Financial Update 3. Outlook 2025 & Key Takeaways 7
Slide 8: ITS – Key Financials
ITS – Key Financials Strong finish to 2024 with high revenue and adj. EBIT contribution in Q4 1 Change Change (in €m) Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 yoy qoq Order intake (in ‘000 units) 67.0 59.3 63.9 51.7 70.0 +4% +35% Order intake 2,176 1,804 1,966 1,797 2,199 +1% +22% Order book 3,197 2,
Slide 9: SCS – Key Financials
SCS – Key Financials Continued sequential improvement in profitability 1 Change Change (in €m) Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 yoy qoq Order intake2 779 642 677 636 624 -20% -2% Of which E-commerce (%)3 61% 38% 61% 30% 57% Order book2 2,921 2,778 2,732 2,542 2,424 -17% -5% Revenue 781 719 73
Slide 10: KION Group – Key Financials
KION Group – Key Financials Sequential and year-on-year improvement in profitability 1 Change Change (in €m) Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 yoy qoq Order intake2 2,936 2,439 2,640 2,427 2,815 -4% +16% Order book2 6,045 5,588 5,272 4,804 4,635 -23% -4% Revenue 3,086 2,859 2,877 2,699 3,068 -
Slide 11: Adjusted EBITDA to Net Income
Adjusted EBITDA to Net Income Net income increased on higher EBIT and lower net financial expenses Q4 Q1 Q2 Q3 Q4 Change Change (in €m) 2023 2024 2024 2024 2024 yoy qoq Comments Adj. EBITDA 460 474 474 471 526 +14% +12% D&A -241 -248 -254 -251 -275 -14% -10% 1 Non-recurring items include Adj. EBIT 2
Slide 12: Cash Flow Statement
Cash Flow Statement Strong EBIT and NWC improvements drive FCF despite high capex Free cash flow Q4 2024 Comments (in €m) -96 475 214 -2 1 Net working capital release -174 271 mainly driven by favorable 212 147 1 2 -31 -49 202 developments in inventories 0 -20 and contract assets partially offset by
Slide 13: Net Debt
Net Debt Continued deleveraging results in further improved leverage ratios Indebtedness and leverage1 ratios as at 31 December 2024 Comments (in €m) 1 1.3x 1 Leverage ratios improved by 0.1x sequentially across both 2,497 net debt definitions Liabilities from 770 procurement leases 1 0.6x 0.5x 814
Slide 14: Agenda
Agenda 1. Summary FY 2024 & Business Update 2. Financial Update 3. Outlook 2025 & Key Takeaways 14
Slide 15: FY 2025 Outlook
FY 2025 Outlook “Look-through” year for ITS while SCS to improve further on self-help measures KION Group Industrial Trucks & Services Supply Chain Solutions (in €m) FY 2024 FY 2025 FY 2024 FY 2025 FY 2024 FY 2025 Actuals Outlook Actuals Outlook Actuals Outlook Revenue 11,503 10,900 – 11,700 8,609 8
Slide 16: Assumptions for Outlook 2025
Assumptions for Outlook 2025 Market expectations (measured in order intake) ▪ Industrial truck market in units to grow slightly year-on-year across all regions – slowdown of growth in EMEA and stable growth rates in APAC compared to 2024e. In Americas, market recovery is expected. However, in value
Slide 17: Key Takeaways
Key Takeaways Strong financial performance in FY2024 ▪ KION improved adj. EBIT and adj. EBIT margin in both operating segments FY 2025 outlook reflects ▪ “look through” year for ITS and ▪ continued profitability improvements in SCS With our recently launched efficiency program and our “Playing to WI
Slide 18: Q & A Session
Q &A Session KION GROUP
Slide 19: Appendix
Appendix 19
Slide 20: Assumptions for Outlook 2025
Assumptions for Outlook 2025 Global Growth expectations of 3.3% (IMF as of January 2025) ▪ developed countries 1.9% (Euro area 1.0%, US 2.7%) ▪ emerging countries 4.2% (China 4.6%) Assumptions for major currencies quoted against the euro (base currency) ▪ USD: 1.09 ▪ CNY: 7.75 ▪ GBP: 0.86 20 KION GR
Slide 21: FY 2025 Expectation – Housekeeping Items
FY 2025 Expectation – Housekeeping Items Non recurring items¹ Operating capex (incl. capitalized R&D)² ... between -€240m to -€275m ... between -€400m to -€450m PPA ... around -€85m to -€90m R&D spending³ ... Around 3% of group revenue Net financial expenses … between -€170m to -€190m Dividend polic
Slide 22: FY 2024 Outlook to Actual Results Comparison
FY 2024 Outlook to Actual Results Comparison Fully achieved and partially exceeded the outlook KION Group Industrial Trucks & Services Supply Chain Solutions (in €m) Outlook Actuals Outlook Actuals Outlook Actuals Revenue 11,400 - 11,600 11,503 8,500 - 8,600 8,609 2,900 - 3,000 2,943 Adj. EBIT 850 -
Slide 23: Key Financials
Key Financials Group figures Industrial Trucks & Services Supply Chain Solutions FY Q4 Q3 Q2 Q1 FY Q4 FY Q4 Q3 Q2 Q1 FY Q4 FY Q4 Q3 Q2 Q1 FY Q4 (in €m) 2024 2024 2024 2024 2024 2023 2023 2024 2024 2024 2024 2024 2023 2023 2024 2024 2024 2024 2024 2023 2023 Order intake1 10,321 2,815 2,427 2,640 2,43
Slide 24: Leverage Development and Maturity Profile
Leverage Development and Maturity Profile Leverage ratios improved further in Q4 2024 Leverage development1,2 Maturity profile and free liquidity as at 31 December 2024 (in €m) 3.2x Self-help returns leverage ratios to levels even lower than last seen post Dec. 2020 capital increase 4.0 3.5 2.3x 2,1
Slide 25: ITS Order Intake
ITS Order Intake Share of electrified products at 91% in Q4 2024 Development of KION ITS segment Change Order intake Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Change yoy Change qoq FY 2021 FY 2022 FY 2023 FY 2024 yoy Order intake (in ‘000 units) 67.0 59.3 63.9 51.7 70.0 +4% +35% 299.4 268.2 241.7 244.
Slide 26: Industrial Truck Market and ITS Order Intake
Industrial Truck Market and ITS Order Intake KION global market share below PY level in Q3 24 Industrial Truck Market1 Development of KION ITS segment Regional growth Region Q4 2023 FY 2023 Q1 2024 Q2 2024 Q3 2024 (Change in units Q4 2023 FY 2023 Q1 2023 Q2 2024 Q3 2024 Q4 2024 FY 2024 (Change in un
Slide 27: Financial Calendar
Financial Calendar Date Event 05 March 2025 KION @ ODDO-BHF Roadshow, Frankfurt, Germany 19-20 March 2025 KION @ Bank of America Global Industrials Conference, London, UK 30 April 2025 Quarterly Statement for the period ended 31 March 2025 (Q1 2025) and analyst call 13 May 2025 KION @ UBS Pan Europe
Slide 28: Disclaimer
Disclaimer This document has been prepared by KION GROUP AG (the “Company”, and together with its consolidated subsidiaries, the "KION Group") solely for informational purposes. This disclaimer shall apply in all respects to the entire presentation (including all slides of this document), the oral p