Kion Group Ag · XETR:KGX
Kion — Investor Presentation (August 2024)
80 slides from Kion's investor presentation, August 2024
Slide 1: We keep the world moving. Investor Relations Presentation
We keep the world moving. Investor Relations Presentation August 2024
Slide 2: 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
Slide 3: Agenda
Agenda 1. Company Overview I. KION Group at a Glance II. Market Development and Business Drivers III. Industrial Trucks & Services IV. Supply Chain Solutions 2. Synergies and Combined Activities I. A New Era in APAC II. Mobile Automation 3. Sustainability / ESG 4. Appendix 3 KION GROUP AG | Investor
Slide 4: KION Group at a Glance
KION Group at a Glance One of the world leaders in industrial trucks and supply chain solutions Joint Offering #1 & #2 #1 #1 in industrial • Industrial trucks trucks in supply in EMEA1 chain • Automated warehouse solutions solutions • Services Global #2 in globally3 industrial trucks2 €10.9bn €11.4b
Slide 5: KION Group at a Glance: A truly global player
KION Group at a Glance A truly global player with a well-balanced portfolio Global Footprint Revenue Split1,3 ~74% ~26% ~2,100 Present in Industrial Trucks Supply Chain sales and service >100 and Services Solutions locations1 countries1 ~23% ~67% ~11% Americas EMEA APAC >1.8m Ongoing Industrial truc
Slide 6: Solutions Offering
Solutions Offering Broad material handling offering From industrial trucks to fully automated warehouses Tailor-made electric, fuel cell and IC-powered counterbalance and warehouse trucks Warehouse automation solutions to optimize material and information flow Full life cycle offering via a broad ra
Slide 7: Competitive Landscape
Competitive Landscape Market leading positions globally Industrial trucks1 + Automation systems2 Toyota Industries KION Honeywell Broad intralogistics KION offering (Intelligrated) Mitsubishi Logisnext Toyota Industries (Vanderlande / Bastian Solutions) Jungheinrich Daifuku Full-line player in intra
Slide 8: KION 2027 Strategy
KION 2027 Strategy Action fields to drive profitable growth towards >10% adj. EBIT margin by 2027 Multi-branded Region-specific Automation Performance Sustainability Go-to market growth plans & Software & Agility • Successfully • Expansion of • Li-Ion batteries • Mobile • Global value positioned sal
Slide 9: Development of R&D Spend
Development of R&D Spend Strong R&D commitment with increased spend in clear focus areas R&D spend1 in % of revenue Stable R&D spend at KION Group level ~3% of group revenue 3.1% 2.8% 2.8% 2.8% 2.9% 2.6% 2.7% 2.7% Increased R&D spend for focus areas: New platforms and standards Sustainability
Slide 10: Development of Strategic Investments
Development of Strategic Investments Next growth investments lined up Strategic investments excl. R&D and SAP S4/HANA in €m 255 288 236 ITS Capex excl. R&D SCS Capex excl. R&D CS1 Capex excl. R&D 2021 2022 2023 2024e Capacity expansion Jinan ~ €100m ITS North America ~ €40m Kołbaskowo ~ €80m Jinan ~
Slide 11: Investment Highlights
Investment Highlights Key reasons for an investment in KION Group Need for intralogistics solutions fueled by structural trends and demand drivers 1 Attractive markets e.g. demographics, need for sustainable solutions and faster delivery requirements One of the global Well positioned to outperform
Slide 12: Agenda
Agenda 1. Company Overview I. KION Group at a Glance II. Market Development and Business Drivers III. Industrial Trucks & Services IV. Supply Chain Solutions 2. Synergies and Combined Activities I. A New Era in APAC II. Mobile Automation 3. Sustainability / ESG 4. Appendix 12 KION GROUP AG | Investo
Slide 13: Material Handling Market Trends
Material Handling Market Trends On its path to lights-out material handling solutions Software & Lights-out connected Micro- solutions Fleet fulfilment Big data and management New energy Autonomous analytics sources Assistance vehicles Advanced systems Sustainable products robotics Industrial trucks
Slide 14: Megatrends and Expected Market Developments
Megatrends and Expected Market Developments Long-term attractive markets Megatrends & demand implications Long-term market growth Warehouse 1 E-commerce Demand for automated warehouse solutions automation market ~ +8% 1 Emerging markets Demand for (value) trucks in Chinese market Industrial truck ma
Slide 15: Global Supply Chains Solutions market
Global Supply Chains Solutions market Long-term attractive market after temporary weakness in 2023 and 2024 Supply Chain Solutions Market1 Main drivers Revenue estimate in €bn and CAGR in % 2024 The recent challenging market environment is expected to persist in +8% ~48 2024, resulting in a slight d
Slide 16: Global Industrial Trucks market
Global Industrial Trucks market Long-term attractive market, stabilizing in 2024 after two years of normalization Industrial Trucks Market (in ‘000 units)1 4-6% 2,341 ~6% 2,183 2,088 1,638 1,538 1,507 1,395 1,088 1,100 1,182 951 975 944 1,010 855 872 794 704 749 547 2004 2005 2006 2007 2008 2009 201
Slide 17: Forklift Trucks Penetration
Forklift Trucks Penetration Well positioned to capture momentum in emerging markets Regional mix ITS market Regional mix KION ITS Development potential Unit order intake split 2023 in %1 Unit order intake FY 2023 in %1 Forklift penetration2 per 1 million inhabitants 2023 vs 2013 Others South / Centr
Slide 18: Agenda
Agenda 1. Company Overview I. KION Group at a Glance II. Market Development and Business Drivers III. Industrial Trucks & Services IV. Supply Chain Solutions 2. Synergies and Combined Activities I. A New Era in APAC II. Mobile Automation 3. Sustainability / ESG 4. Appendix 18 KION GROUP AG | Investo
Slide 19: Industrial Trucks and Services at a Glance
Industrial Trucks and Services at a Glance One of the world leaders in industrial trucks Revenue by product1 Truck shipments by industry2 Revenue by region1 Aftersales APAC 25% Other industries Logistics 10% Americas Services Food 8% 47% EMEA New business Paper & print 82% 53% Rental Construction Me
Slide 20: Industrial Trucks and Services: Financial overview
Industrial Trucks and Services at a Glance Financial overview Key financials (in €m) 2023 2022 2021 2020 2019 2018 2017 Order intake 7,890 8,426 8,166 5,797 6,330 6,211 5,859 Order book 3,197 3,818 2,878 1,384 1,409 1,501 1,216 Order intake (in ‘000 units) 241.7 268.2 299.4 198.3 213.7 216.7 201.4 T
Slide 21: Industrial Trucks and Services: Integrated business model
Industrial Trucks and Services Integrated business model Technology and innovation Sales support vehicle with New truck sales Financial services driver benefit for aftermarket and Tailor-made solutions and Around half of new truck service activities customer options units sold Integrated wit
Slide 22: Competitive Strengths
Competitive Strengths Three pillars expected to drive profitable growth of KION’s ITS segment Technology expertise Resilient services Efficiency improvement High operational performance of Striving to cover the full life cycle Modularizing products trucks1 with innovative offering Optimizing
Slide 23: Competitive Strengths – Technology Expertise
Competitive Strengths – Technology Expertise KION’s latest truck platforms expected to enable future growth New truck platforms with 10 to 15-year lifecycle – Productivity Performance more derivatives planned for next years Digital twin allowing new feature sales and efficiencies Design to Efficienc
Slide 24: Premium efficiency and total cost of ownership
Competitive Strengths – Technology Expertise Premium efficiency and total cost of ownership Industrial truck efficiency supports premium pricing1 Industrial truck purchase price only ~ 13% of TCO Cost per lorry load cycle2 Competitive Purchase ~ 13% pricing price Sources to ~ 6% maximize ~ 15% ~ 12%
Slide 25: Focus on Sustainability
Focus on Sustainability KION is driving electrification and green industrial trucks Electrification of industrial trucks Li-Ion share1,2 Energy Comments on KION Group development Global development from 2004 to 20231 Estimated market mix by battery technology Continued and substantial shift in glo
Slide 26: Competitive Strengths – Resilient Services
Competitive Strengths – Resilient Services Digitalization aims to support customers’ productivity and KION’s efficiency Remote health monitoring Remote technician support Expected benefits to customers Truck stops from wear & Efficiency increase through tear are reduced multimedia dialogue of on
Slide 27: Summary - Industrial Trucks & Services
Summary - Industrial Trucks & Services Accelerate volume growth and return to double-digit adj. EBIT margin Exposure to attractive markets with products and services addressing core 1 needs of customers New business growth expected to be driven by technology advantages of new 2 product platforms, sa
Slide 28: Agenda
Agenda 1. Company Overview I. KION Group at a Glance II. Market Development and Business Drivers III. Industrial Trucks & Services IV. Supply Chain Solutions 2. Synergies and Combined Activities I. A New Era in APAC II. Mobile Automation 3. Sustainability / ESG 4. Appendix 28 KION GROUP AG | Investo
Slide 29: Supply Chain Solutions at a Glance
Supply Chain Solutions at a Glance Leading in supply chain solutions Revenue by product1 Revenue by industry1,2 Revenue by region1 Asia-Pacific General 12% Other merchandise E-Commerce Services pureplay EMEA 35% Business Parcel 24% solutions Wholesale 65% Americas Food & beverage 64% Apparel Grocery
Slide 30: Supply Chain Solutions: Financial overview
Supply Chain Solutions at a Glance Financial overview Key financials (in €m) 2023 2022 2021 2020 2019 2018 2017 Order intake1 3,007 3,327 4,329 3,654 2,771 2,425 2,099 Order book 2,921 3,025 3,792 3,071 2,232 1,797 1,398 Revenue 2,997 3,807 3,796 2,627 2,379 2,055 2,010 Thereof business solutions 65
Slide 31: FY 2024 – Change in Presentation of SCS Customer Service Business
FY 2024 – Change in Presentation of SCS Customer Service Business SCS to follow the ITS methodology Since FY2024, SCS customer service business is aligned with methodology applied in ITS SCS Customer Services order intake exclude Modernizations & Upgrades and equals revenue (like in ITS) Excep
Slide 32: Supply Chain Solutions Order Intake Composition
Supply Chain Solutions Order Intake Composition Service business and smaller projects provide stability SCS order intake by product SCS orders by project size Total order intake 2023 (in €m) Business solutions order intake 2023 3.032 ~40% Smaller projects ~60% (<€20m) Large projects (>€40m) Medium-s
Slide 33: Focus Verticals, Value Drivers and Solutions
Focus Verticals, Value Drivers and Solutions Purposeful growth in verticals with highest growth potential Share of total market Selected revenue 2023 Value drivers SCS solutions (selected solutions only) clients5 (%) 1 mPick / GTP3 General Merchandise 18% Speed of Flexible Decentralized Micro- AMR-b
Slide 34: Supply Chain Solutions – Typical Project Timeline
Supply Chain Solutions – Typical Project Timeline Solution development and project implementation typically last 24 months and more Solution development Project implementation Life cycle services ~ 2-24 months ~ 6-24 months ~ 15-30 years Order Project revenue Commis- Service revenue intake recogniti
Slide 35: Software-defined Automation Journey and Capabilities
Software-defined Automation Journey and Capabilities SCS enables the autonomous supply chain of the future Customers today Supply chain of tomorrow SCS driving customer outcomes Productivity Customer fulfillment Ability to maximize throughput Fully Autonomous journey Manual Warehouse / Semi-automate
Slide 36: Software Vision and Footprint
Software Vision and Footprint Software is core to SCS’s portfolio and value proposition SCS’s digital To provide vertical ecosystem based highly intelligent solutions that combine our software / digital capabilities with automation vision & robotics technology to deliver increased productivity flexi
Slide 37: Lifecycle-based Service Approach
Lifecycle-based Service Approach Reducing total cost of ownership & driving value-based service offering Customer intimacy across project journey (20+ years) Driving business outcomes with combined offerings Start up Evolution for Design Operation Spare parts Ramp up optimization Consultative 3 Expe
Slide 38: Dematic Execution Excellence
Dematic Execution Excellence Regionalization and standardization expected to drive speed, growth & profitability Upfront engagement Standardized solutions Regionalized fulfillment Sizing Modeling Concepting Simulation Extensive upfront customer Integrated range of various Rapid on-site readiness eng
Slide 39: Standardization and Execution Benefits
Standardization and Execution Benefits Standardization is key to improve profitability and speed Benefits of standards: Increasing standards: Scalability “Infinite” Standardization helps to reduce manufacturing costs and production times 11 solutions Faster execution sub-systems Selling more standar
Slide 40: Emerging Markets Footprint
Emerging Markets Footprint Driving cost leverage through low-cost country presence Bettering global cost position and scale Additional SCS APAC plant in China Creating a new manufacturing facility at Jinan Will become the largest SCS plant (28,000 m2) in China Regionalized manufacturing footpr
Slide 41: Customer Example: Dematic and Groupe Robert
Customer Example: Dematic and Groupe Robert First fully automated cold storage facility of its kind in Third Party Logistics (3PL) Solution: 60,000 pallets One of the tallest 30,000 in fresh Automated Storage and Retrieval Systems 30,000 in frozen (AS/RS) to support temperatures down to fulfillment
Slide 42: Customer Example: AMR Solution for Radial Europe
Customer Example: AMR Solution for Radial Europe AMRs to move pallets and totes, enhancing warehouse processes Solution: 299 AMRs largest AMR project to process e- Pallet-to-picker commerce orders for apparel Bin-to-picker products Order-shelf-transport Benefits: 65,000 improving efficiency (improve
Slide 43: Dematic and AutoStore
Dematic and AutoStore Global strategic partner since 2017 ~120 AutoStore empowered by Dematic in 22 countries >99.6% >1,000 ports Up-time ~4.7m bins >4,100 robots Max Max Average Average Min Min ~430,000 380 ~800 ~39,000 2 34 43 KION GROUP AG | Investor Relations Presentation | August 2024 | Classif
Slide 44: Summary: Supply Chain Solutions
Summary: Supply Chain Solutions Growth and ambition to return to double digit adj. EBIT margins Solid long-term market fundamentals expected to drive 1 strong growth of warehouse automation market Capture market growth in promising verticals 2 through an ecosystem based on intelligent and connected
Slide 45: Agenda
Agenda 1. Company Overview I. KION Group at a Glance II. Market Development and Business Drivers III. Industrial Trucks & Services IV. Supply Chain Solutions 2. Synergies and Combined Activities I. A New Era in APAC II. Mobile Automation 3. Sustainability / ESG 4. Appendix 45 KION GROUP AG | Investo
Slide 46: A New Era in APAC: Growth in China
A New Era in APAC Strategic investments to capture significant upside potential in China China is the single largest forklift market2 with significant growth potential Growth KION is the leading foreign player1 in China with longstanding experience in operation since 1993 in China Comprehensiv
Slide 47: A New Era in APAC: Value segment production plant and R&D center
A New Era in APAC Value segment production plant and R&D center Value segment plant R&D Center Revenue potential in €m • Production capacity of 40,000 • Future “Global Center of units for future growth Excellence for Value” ~250 • Located in Jinan for counterbalance products ~170 • 223,000 m² – equi
Slide 48: KION Group Global Value Platform
KION Group Global Value Platform Multi-brand platform targeting the value segment Key features Production located at value segment plant in Jinan, China and local derivatives produced in the Americas Multi-brand product platform for Baoli, Linde Material Handling and STILL Modular platform for IC- a
Slide 49: Important Features of the Value Platform
Important Features of the Value Platform Using modular platform and scaling drives price competitiveness Winning selling proposition Increased price competitiveness through modular platform Truck architecture using Reduced service time versus Chinese competitors1 modular components Optimized p
Slide 50: Agenda
Agenda 1. Company Overview I. KION Group at a Glance II. Market Development and Business Drivers III. Industrial Trucks & Services IV. Supply Chain Solutions 2. Synergies and Combined Activities I. A New Era in APAC II. Mobile Automation 3. Sustainability / ESG 4. Appendix 50 KION GROUP AG | Investo
Slide 51: Global Mobile Automation market
Global Mobile Automation market Market for mobile automation expected to reach ~ €20bn by 2027 Total market size1 KION Group (Revenue in €bn and expected CAGR) One of the leaders in mobile automation2 FY 2023 revenue +30% to ~€200m ~20 KION ensures end-to-end solution offerings by >+30% developing m
Slide 52: Key Mobile Automation Drivers
Key Mobile Automation Drivers Our mobile automation solutions offer highly-attractive ROI potentials Mobile Automation Drivers Attractive ROI Potential Further Customer Benefits Cost INDICATIVE (in €) Lower Lack of warehouse Manual product damage workforce Higher Cost and process stability perfo
Slide 53: Mobile Automation – Solution Offerings
Mobile Automation – Solution Offerings We are able to offer a broad range of solutions Bespoke Solution Small Batch Solution Serial Solution Extensive range of fully Built in batches / quasi-standard Basis of every robotics solution: customized AGVs High number of customer options tried and
Slide 54: Industrializing Production of Mobile Automation Solutions
Industrializing Production of Mobile Automation Solutions Taking the necessary steps for anticipated strong market growth Pallet stacker AMR LoadRunner Automated production started in early AMRs with integrated Quicktron Development of high-speed, small-sized, 2022 in Châtellerault, France tec
Slide 55: Agenda
Agenda 1. Company Overview I. KION Group at a Glance II. Market Development and Business Drivers III. Industrial Trucks & Services IV. Supply Chain Solutions 2. Synergies and Combined Activities I. A New Era in APAC II. Mobile Automation 3. Sustainability / ESG 4. Appendix 55 KION GROUP AG | Investo
Slide 56: Sustainability Topics and Targets
Sustainability Topics and Targets KION sets itself ambitious sustainability targets 2023 KION Group Sustainability Report1,3 Selected sustainability targets1 People Occupational Health & Safety: Reduce accident frequency rate by 5% p.a. 100% ISO 450012 certification rate by 2024 Products ITS & SCS:
Slide 57: Targeting net zero emissions by 2050 at the latest
Sustainability Topics and Targets Targeting net zero emissions by 2050 at the latest Target: -30% of Energy related GHG emissions energy related CO2 emissions of own 2030 targets2 in kt CO2e1 operations vs. 2017 Reduction of scope 1 & 2 emissions by -4.2% per year -28% Reduction of scope 3 emiss
Slide 58: KION commits to Net-Zero and to the Science Based Targets initiative
Sustainability Topics and Targets KION commits to Net-Zero and to the Science Based Targets initiative SBTi path to 1.5°C Green house gas emissions Near-term Net-Zero science-based (schematic) target • Near-term path: linear Long-term science-based • Long-Term: Net-Zero target by 2050 at the latest,
Slide 59: Product Electrification & Efficiency
Products | Product Electrification & Efficiency Combining electrification & efficiency focus enables client emission reduction Electrified product portfolio1 Energy efficient solutions IC-trucks Linde X20 – X35 9% E-truck series with minimized 91% 25% E-trucks energy consumption yet IC-truck equival
Slide 60: Resource Efficiency and Product Health & Safety
Products | Resource Efficiency and Product Health & Safety Longevity, efficient resource use and health & safety as key parameters Using trucks & resources efficiently Health & Safety at customer site Up to recyclability1 of trucks Noise abatement Ergonomics 99% ensured through ecological, modular d
Slide 61: Occupational Health & Safety and Board Remuneration
People | Occupational Health & Safety and Board Remuneration Promoting employee health & safety and strengthening board ESG focus Achievements 2023 (selected)1 ESG-linked board remuneration 89% of Occupational Health & Safety ESG-linked board remuneration introduced Management Systems at all sites i
Slide 62: Processes | Supply Chain Management
Processes | Supply Chain Management Securing an environmentally and socially responsible supply chain Transparency along the supply chain The KION Group Principles of Supplier Conduct comprise the expectation that all suppliers respect human rights Sustainable supply chain initiative and uphold inte
Slide 63: KION Selected ESG Achievements
KION Selected ESG Achievements ESG performance constantly improved over the last 5 years… Description Performance Description Performance 2023 vs 2018 2023 vs 2018 Revenues +43% Employees +28% Emission intensity Diversity +2 GHG emissions Scope 1, 2 & 3.3 -48% % of female employees Percentage Points
Slide 64: ESG Rating agencies recognize KION leadership in sustainability
Sustainability ESG Rating agencies recognize KION leadership in sustainability Selected rating agencies scores Key highlights D- A- A Strong Environmental position engagement KION active (Climate Change) Top 18% in the industry with good performance in resource Bronze Silver Gold Platinum management
Slide 65: Agenda
Agenda 1. Company Overview I. KION Group at a Glance II. Market Development and Business Drivers III. Industrial Trucks & Services IV. Supply Chain Solutions 2. Synergies and Combined Activities I. A New Era in APAC II. Mobile Automation 3. Sustainability / ESG 4. Appendix 65 KION GROUP AG | Investo
Slide 66: Executive Board of KION Group
Executive Board of KION Group More than 60 years of experience in Supply Chain Solutions und Material Handling Rob Smith Christian Harm Valeria Gargiulo Andreas Krinninger Mike Larsson Ching Pong Quek CEO CFO CPSO1 President President KION SCS & CTO & President KION ITS EMEA KION ITS Americas KION I
Slide 67: Solutions Offering
Solutions Offering Broad material handling offering 67 KION GROUP AG | Investor Relations Presentation | August 2024 | Classification: Public
Slide 68: Industrial Trucks
Industrial Trucks Range of products serving customer needs worldwide Examples Internal combustion (IC) counterbalance trucks (Cl. 4/5) • Mainly used outside Electric (E) counterbalance trucks (Cl. 1) • Mainly used inside Warehouse technology: rider trucks (Cl. 2) • Faster transportation of loads • S
Slide 69: Global Manufacturing Network
Global Manufacturing Network Production facilities for Industrial Trucks and Supply Chain Solutions Hamburg Dinklage Geisa Zwijndrecht Kołbaskowo Grand Rapids Jinan Offenbach Českŷ Krumlov Jingjiang Stříbro Salt Lake City Summerville Aschaffenburg Pune Suzhou Zhangzhou Reutlingen Karlstein Monterrey
Slide 70: Strong global sales and service network
KION Group at a Glance Strong global sales and service network for a global customer base1 Americas EMEA Asia Pacific (APAC) ~400 sales and/or ~1,000 sales and/or ~800 sales and/or service locations service locations service locations Almost 2,200 sales and/or service locations in over 100 countries
Slide 71: KION Shareholder Structure
KION Shareholder Structure US and UK represent majority of free float investors Shareholder Structure end of June 2024 Free float by country end of March June1 Other Europe Rest of the World ~6.6% ~2.2% Weichai Power BeNeLux ~46.5% ~3,7% Nordics ~9.8% US ~36.1% Free Float France ~53.4% ~9.7% Germany
Slide 72: Ownership Structure and Weichai Power Partnership
Ownership Structure and Weichai Power Partnership Weichai Power is KION’s strategic anchor shareholder Current ownership structure Weichai Power partnership Weichai Strategic anchor shareholder Free Treasury KION Power Co., Held 30% pre-IPO float shares investment Ltd. Stepped up from 45.2% to
Slide 73: Key Financials
Key Financials Group figures by year (in €m) 2023 2022 2021 2020 2019 2018 20178 20166 2015 2014 2013 20121 Order intake 10,850 11,708 12,482 9,443 9,112 8,657 7,979 5,833 5,216 4,7715 4,489 4,590 Revenue 11,434 11,136 10,294 8,342 8,807 7,996 7,598 5,587 5,098 4,678 4,495 4,560 Adj. EBITDA2 1,749 1
Slide 74: FY 2024 Outlook
FY 2024 Outlook Good H1 provides confidence for FY 2024 outlook despite delayed market recovery KION Group Industrial Trucks & Services Supply Chain Solutions (in €m) Old Updated Old Updated Old Updated Revenue 11,200 – 12,000 11,300 – 11,700 8,500 – 9,000 8,500 – 8,700 2,700 – 3,000 2,800 – 3,000 c
Slide 75: FY 2024 Expectation – Housekeeping Items
FY 2024 Expectation – Housekeeping Items Non-recurring items1 Operating Capex2 … between -€10m to -€20m … between -€400m to -€450m PPA R&D spending3 … around -€110m to -€115m … around 3% of group revenue (vs -€90m to -€95m before, due to KION ITS Americas goodwill impairment) Net financial expenses
Slide 76: Net Debt
Net Debt Higher LTM adj. EBITDA leads to relatively stable leverage ratios Indebtedness and leverage1 ratios as at 30 June 2024 Comments (in €m) 2 1.8x 1 Marginal increase in net debt 2 despite positive FCF due to 3,357 €92m dividend pay-out in June 1.5x and the completion of 635 2,722 on-balance sh
Slide 77: Leverage Development and Maturity Profile
Leverage Development and Maturity Profile Leverage ratios stabilized in Q2 2024 Leverage development1,2 Maturity profile and free liquidity as at 30 June 2024 (in €m) 4.0x 4.0 3.2x 3.5 1,630 2.8x 2.8x 3.0 3 2.5x 2.4x 270 1,500 2.4x 2.3x 2.7x 2.5 2.0x 1.9x 1.8x 2.0 1.6x 1.6x 1.9x 1.5x 1,000 1.4x 1.4x
Slide 78: Credit Ratings and Refinancing Tools
Credit Ratings and Refinancing Tools Refinancing tools Corporate credit ratings Debt Issuance Program (EMTN) Agency Rating Outlook Last Update Program size €3bn Fitch Ratings BBB Stable 14 May 2024 (long-term) Bonds issued under the Debt Issuance Program Fitch Ratings Volume €500m F2 14 May 2024 (sh
Slide 79: Financial Calendar
Financial Calendar Date Event 04 September 2024 KION @ Jefferies Industrial Conference, New York, USA 04 September 2024 KION @ Commerzbank and ODDO BHF Corporate Conference, Frankfurt, Germany 06 September 2024 KION @ Morgan Stanley Industrial CEOs Unplugged, London, UK 12 September 2024 KION @ UBS
Slide 80: Investor Relations Contacts
Investor Relations Contacts Sebastian Ubert Vice President Investor Relations Phone: +49 (0)69 20110 - 7329 sebastian.ubert@kiongroup.com Nina Löchte Assistant Investor Relations Phone: +49 (0)69 20110 - 7975 nina.loechte@kiongroup.com Kathrin Böck Manager Investor Relations / Corporate Access Phone