EQS-News: KION Group CEO Rob Smith: 'We are following a clear roadmap to grow profitably and look to the future with confidence.'
EQS-News: KION GROUP AG
/ Key word(s): AGM/EGM
"We are following a clear roadmap to grow profitably and look to the future with confidence."
Frankfurt am Main, May 17, 2023 – After three years, KION GROUP AG today welcomed shareholders to its in-person Annual General Meeting at the Palmengarten Frankfurt. CEO Rob Smith recapped the 2022 financial year, which was marked by external and internal challenges for the Group. In front of around 130 shareholders and shareholder representatives, Rob Smith also looked ahead to the KION Group's prospects. "We are convinced that the key growth drivers for our two segments will continue to strengthen, including megatrends such as urbanization, automation and alternative energy systems," said Smith. Group resilience and agility strengthened In his summary of the past financial year, the Chief Executive Officer outlined the Group’s conclusions drawn in recent months from the challenging global macroeconomic and political environment. "We have set out a clear roadmap with commercial and operational agility measures to ensure successful profitable growth even in volatile times." For example, he said, the company has introduced more dynamic pricing to better protect itself against current and future inflationary pressures. KION has also introduced price adjustment clauses in its contracts with customers in both segments of the Group. Another focus area was procurement, Smith reported to the shareholders in the room, saying that the KION Group strengthened its global supplier network and was now much more resilient than it was a year ago. "That is why we are looking to the future with confidence," the CEO emphasized. KION ensures efficient intralogistics KION started well into the financial year 2023, not least thanks to its own efforts: In the first quarter, the Group's profitability increased significantly due to strong results of the Industrial Trucks Services segment. "This shows that our measures are taking effect," Smith said. The company expects an increase in revenue, adjusted EBIT and return on capital employed for the current financial year. Smith took a positive long-term view for the Group, underlining KION's strong and global position as a leading full-service provider in the industry. "With our intelligent forklift trucks, our networked data management and our warehouse automation systems, we support our customers – and ensure efficient intralogistics," said the CEO. Supervisory Board: Farewell to Michael Macht, Hans Peter Ring new Chairman During and after the Annual General Meeting, KION GROUP AG laid important foundations for the long-term composition of its executive bodies. The Supervisory Board subsequently elected Hans Peter Ring, the previous Chairman of the Audit Committee, as Chairman of the Supervisory Board. He succeeds Dr. Michael Macht, who announced his retirement from the Supervisory Board in spring and chaired the Annual General Meeting of KION GROUP AG for the last time. "The new appointments to the Executive Board have been completed and lay strong foundations for the future. The Company has a robust growth strategy that has proven its worth even in the current period of geopolitical and economic uncertainty," said Macht. "After more than four years of extremely intense work for the KION Group, I can now pay greater attention to my various other mandates – some of them in automotive-related companies." CEO Rob Smith honored Michael Macht's commitment to KION Group and looked back on the productive collaboration. With Hans Peter Ring taking over as Chairman of the Supervisory Board, shareholders elected Dr. Nicolas Peter to the Supervisory Board as an independent shareholder representative. Peter served as Chief Financial Officer of BMW AG until his retirement on May 11, 2023. He will henceforth chair the Audit Committee. Supervisory Board and Executive Board proposals approved with majority During the Annual General Meeting, the majority of shareholders approved all the proposals put forward by the Supervisory Board and the Executive Board, including the dividend payment of 0.19 euros per share, corresponding to a payout ratio of around 25 percent. Further information on the Annual General Meeting and all voting results can be found here: https://www.kiongroup.com/en/Investor-Relations/Shareholders-Meeting/ https://www.kiongroup.com/en/Investor-Relations/Financial-News/
The KION Group is one of the world’s leading providers of industrial trucks and supply chain solutions. Its full spectrum of services includes industrial trucks, such as forklift trucks and warehouse trucks, as well as integrated automation technologies and software solutions for the optimization of supply chains—including all related services. The KION Group’s solutions ensure the smooth flow of materials and information in customers’ warehouses, production plants, and distribution centers in over 100 countries. The MDAX-listed group is the largest manufacturer of industrial trucks in the EMEA region based on the number of units sold in 2021. Based on revenue for the year 2021, the KION Group is the leading overseas manufacturer in China, and including domestic manufacturers, the third-largest supplier there. The KION Group is also one of the world’s leading warehouse automation providers, based on 2021 revenue. At the end of 2022, more than 1.7 million industrial trucks from the KION Group were in use by customers from all manner of sectors and of varying sizes on six continents. The Group currently employs over 41,000 people and generated revenue of approx. €11.1 billion in the 2022 financial year. You can access up-to-date image material for the KION Group via our image database https://mediacenter.kiongroup.com/categories as well as on our respective brands’ websites. (cs) Disclaimer Further information for media representatives Christopher Spies Further Information for Investors
Raj Junginger Additional features: Picture: https://eqs-cockpit.com/c/fncls.ssp?u=dde1a7163ca96ca3b0f8bb3cdaa6f426 Subtitle: File: KION Group_Press Release_Annual General Meeting 2023
17.05.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | KION GROUP AG |
Thea-Rasche-Straße 8 | |
60549 Frankfurt/Main | |
Germany | |
Phone: | +49 69 20110-0 |
E-mail: | [email protected] |
Internet: | www.kiongroup.com |
ISIN: | DE000KGX8881 |
WKN: | KGX888 |
Indices: | MDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1635629 |
End of News | EQS News Service |
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1635629 17.05.2023 CET/CEST
Kion Group AG Aktie
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