Kion Group

Note: This is a daily stock update and the information stands true as of 04/07/25, 09:00 CET.

Company Update:
In its 2Q25 pre-close call (open to the public), KION indicated very strong order intake that may surpass €3bn for the first time since Q2 2022. The company expects topline and EBIT to stand at similar levels as in Q1, ie in line with our estimates. 
However, we have increased our FY25 expectations for order intake by 4.2%, for revenues by 1.2% and for adjusted EBIT by 1.7%. We are convinced that KION will fully confirm its outlook for FY25 provided on 27 February and think that the mid-point of the guided ranges is achievable despite the challenging geo-political environment and the USD weakness. 

Peter still sees the valuation as attractive in view of the topline momentum and the strong fundamentals of the group. Our target price is under review. 

Expert Opinion: 
Kion is an attractive, solid German company with strong fundamentals. Valuation remains decent, especially considering the expected EPS growth in 2026 and 2027. Indeed, if the company trades currently on a PE of 17.5x for 2025, this decreases to 12.2x in 2026 and 10x in 2027. Despite the very strong recent rally, Kion remains a stock to own for the medium run.


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