The Kion Group is sailing close to the wind with a slight increase in sales of 1.1 percent compared to the previous year – which is no small feat given the current economic climate. With sales of €8.435 billion, it has significantly improved its profitability in the first nine months of the fiscal year.
“The year 2024 is characterized by macroeconomic and political uncertainties that are impacting the business climate in the major economies of Europe, Asia, and the Americas. In this challenging environment, we are well on track to achieve our targets,” says Kion CEO Rob Smith. “We (…) confirm our annual forecast and specify the ranges.”
Total revenue in the Industrial Trucks & Services segment increased by 2.4 percent to €6.305 billion (previous year: €6.160 billion). This growth was driven by factors including higher unit sales and improved pricing. The service business also saw growth, achieving a revenue increase of 2.2 percent. The service business's share of external segment revenue remained at a comparable level to the previous year at 48.0 percent (48.1 percent). The Supply Chain Solutions segment experienced a decline in revenue to €2.161 billion (previous year: €2.216 billion). Project business revenue decreased by 12.1 percent, while the higher-margin service business saw a significant increase of 15.8 percent. Consequently, the service business's share of external segment revenue rose to 41.5 percent (previous year: 34.9 percent).
Ch. P. Quek
Sun Shaojun has been appointed to the Supervisory Board for the period until the end of the Annual General Meeting in May 2025, succeeding Tan Xuguang, who resigned from the Supervisory Board on September 16, 2024. Sun is an experienced executive with in-depth expertise in mechanical engineering and the intralogistics industry. He has been a member of the Management Board of Weichai Holding Group in Weifang, People's Republic of China, since 2007.
Sun Shaojun has been a member of the management board of Hydraulics Drive Technology Beteiligungs GmbH in Aschaffenburg since 2013. He began his career in 1998 at Weifang Diesel Engine Works in China. He holds a doctorate in engineering from the University of Tianjin.
The Supervisory Board of Kion has also extended the appointment of the current CTO & President of Kion ITS Asia Pacific, Ching Pong Quek, for another five years until June 30, 2030. Quek began his career at Kion in 2006 as CEO of Linde (China) Forklift Truck Corp., based in Xiamen. Since 2008, he has been responsible for the entire Asian business of the Industrial Trucks & Services segment and also served as President of ITS Americas from 2021 to the end of 2023. In 2024, in addition to his responsibilities for the ITS Asia business, he assumed the role of Chief Technology Officer of the Kion Group. Quek has been a member of the Kion Executive Board since 2013.
