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Kion Group H1 Preliminary Net Income Climbs; Lifts FY Outlook

Kion Group (KGX.DE), a German supplier of forklift trucks and warehouse equipment, reported that its preliminary net income for the first-half of fiscal year 2021 sharply increased to 291 million euros from 50.6 million euros last year. Basic earnings per share rose to 2.21 euros from 0.46 euros in the prior year.

Order intake provisionally increased by 33.7 percent to 5.88 billion euros in the first half of 2021 from last year.

Consolidated revenue for the period increased by 26.5 percent to 4.97 billion euros from 3.93 billion euros in the prior year.

Final financial results of the first half year 2021 will be published in the interim report as of 30 June 2021 on 29 July 2021.

KION Group raised outlook for fiscal year 2021.

For 2021, the company now expects adjusted EBIT to be in the range of 810 million euros - 890 million euros, order intake of 10.65 billion euros - 11.45 billion euros and consolidated revenue of 9.70 billion euros - 10.30 billion euros.

Previously, the company expected annual adjusted EBIT to be in the range of 720 million euros to 800 million euros, order intake of 9.70 billion euros - 10.40 billion euros and consolidated revenue of 9.15 billion euros - 9.75 billion euros.

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