Kion Group (KGX) Q3 2025 earnings summary

Executive summary

• Q3 2025 delivered solid results, with order intake up 10% to €2.7 billion and strong free cash flow driven by net working capital improvements.

• Revenue was flat in Q3, as growth in supply chain solutions offset a decline in the ITS segment.

• Adjusted EBIT reached €190 million (7% margin), and EPS rose nearly 60% to €0.87.

• Notable business highlights included a partnership with Airbus and a Platinum EcoVadis sustainability rating.

• For the first nine months of 2025, order intake rose 18.3% year-over-year to €8.88 billion, but revenue declined 2.8% to €8.2 billion.

Financial highlights

• Q3 2025 order intake: €2.7 billion (+10% yoy); revenue: €2.7 billion (flat yoy); adjusted EBIT: €190 million (7% margin); EPS: €0.87 (+58% yoy); free cash flow: €231 million.

• Net income increased 61% year-over-year to €119 million in Q3; net financial debt at €818 million as of September 2025.

• For the first nine months, adjusted EBIT fell 13.7% to €575.4 million, and net income dropped 34.6% to €167.1 million due to non-recurring expenses.

• Free cash flow for the first nine months was €392.8 million, down 8.9% year-over-year.

Outlook and guidance

• 2025 revenue guidance narrowed to €11.1–11.4 billion, with adjusted EBIT of €760–820 million and free cash flow of €600–700 million.

• Efficiency program expenses revised down to €170–190 million, with most cash impact deferred to 2026.

• Guidance remains subject to macroeconomic and supply chain uncertainties.