BERLIN (dpa-AFX) - Kion Group AG (KGX.DE) on Wednesday reported loss in the first quarter, that reflected lower revenues and certain one-time expenses towards its cost cutting initiatives. The company also reaffirmed its outlook for fiscal 2025.
The company posted net loss of 46.9 million euros in the first quarter of 2025, compared to net income of 111.0 million euros in the year-ago quarter.
Kion Group, a provider of industrial trucks and supply chain solutions, said that basic loss per share came in at 0.36 euro, compared to earnings of 0.83 per share last year.
The loss was mainly due to the efficiency program launched by the company in the EMEA region to save around 140 million euros to 160 million euros every year, starting on a full-scale basis in 2026. As part of the cost-cutting measures, the company plans to spend approximately 240 million euros to 260 million euros in one-time costs during fiscal 2025. Of this amount, 191.5 million euros was spent in the first quarter.
During the three-month period, revenue fell slightly to 2.79 billion euros from 2.86 billion euros recorded in the same quarter of 2024. Order intake, however, rose 11 percent to 2.71 billion euros from 2.44 billion euros a year ago.
Looking ahead, the company reaffirmed its outlook for fiscal 2025 of adjusted EBIT to be in the range of 720 million euros-870 million euros. Annual revenues are expected between 10.90 billion euros and 11.70 billion euros for the year ahead.
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