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German intralogistics giant KION records strong profits growth 2016

Xinhua, March 3, 2017 Adjust font size:

KION Group, German leading supplier of intralogistics solutions, recorded annual profits of 527.2 million euros in 2016, with the year-on-year growth of nearly 10 percent.

The company released Thursday its result for the 2016 financial year, which hit new highs, with the yearly revenue growing by 9.6 percent to 5.3 billion euros as of last December.

Thanks to the very positive result, the share of KION Group as a component of MDAX index, advanced markedly by over 2 percent Thursday at Frankfurt Stock Exchange.

Industrial trucks and services segment covering forklift trucks, warehouse equipment and related services, which plays key role in KION's business, recorded income of 5.2 billion euros in 2016, 3.1 percent higher than the previous year.

KION said its new truck orders rose by 7.5 percent last year, not only based on the sustained growth in western Europe, but also due to the positive trend in China.

With Chinese Weichai Power as big shareholder and partner, KION carries considerable weight in Chinese market.

KION's Chief Executive Officer Gordon Riske told Xinhua that the company would further focus on development and provision of electric forklift trucks in China, in order to meet tightening emissions standards, as well as on deepening collaboration with Chinese partners in field of e-Commerce.

With Weichai Power's support, KION has accomplished the acquisition of the Luxembourg-headquartered automation and supply chain optimization company Dematic last year. KION thus extended its product portfolio ranging from forklift trucks to fully automated material handling systems.

"Integration of Dematic is the key objective for 2017," Riske said. Enditem