Kion Group AG (KGX.DE), a German manufacturer specializing in materials handling equipment, announced on Wednesday an increase in profits for the half year, driven by enhancements across its operating segments.
The company's net income for the first half of the year rose to 181.7 million euros, up from 146.3 million euros, while basic earnings per share increased to 1.35 euros from 1.09 euros in the previous year.
In addition, Adjusted EBIT grew by 28 percent, reaching 447 million euros compared to 348 million euros, and the adjusted EBIT margin improved to 7.8 percent from 6.2 percent.
Revenue for the half year saw a 2 percent rise, totaling 5.736 billion euros, compared to last year's 5.617 billion euros.
Looking forward, Kion reiterated its outlook for the financial year 2024, now providing narrower guidance ranges.
