KION stock: Automation growth meets lower 2026 outlook

Published on 11/02/2026 at 09:52 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

KION stock faces a mixed operating picture after strong automation growth and weaker industrial truck demand. The company lowered its 2026 outlook.

KION balances automation growth and truck weakness

Revenue rose 3.9 percent in the first nine months, while adjusted EBIT increased 9.9 percent.
Intelligent Automation Solutions delivered double-digit growth, but Industrial Trucks & Services lagged in order intake and revenue.
KION lowered its 2026 group outlook and pushed its double-digit adjusted EBIT margin target beyond 2027.

KION, DE000KGX8881, Illustration mit AI erstellt.

KION GROUP AG reported stronger revenue and profitability for the first nine months of 2026, but weaker order intake in its Industrial Trucks & Services business led the company to lower its full-year outlook. The results were released on Thursday, October 29, by KION through an EQS News release published via Deutsche Boerse.

Automation offsets industrial truck pressure

Group revenue increased 3.9 percent year on year to EUR 8.522 billion in the first nine months. Adjusted EBIT rose 9.9 percent to EUR 632.5 million, lifting the adjusted EBIT margin to 7.4 percent from 7.0 percent in the prior-year period.

The main growth engine was Intelligent Automation Solutions. Segment revenue advanced 16.9 percent to EUR 2.519 billion, while adjusted EBIT climbed 36.6 percent to EUR 172.2 million. The segment's adjusted EBIT margin improved to 6.8 percent from 5.8 percent.

Industrial Trucks & Services presented a weaker picture. Revenue slipped 0.7 percent to EUR 6.034 billion, and adjusted EBIT edged down 0.2 percent to EUR 528.7 million. KION said the business did not keep pace with market growth, particularly in value and economy trucks, while regional and product mix also weighed on revenue.

Lower outlook raises execution focus

Group order intake fell 4.9 percent to EUR 8.445 billion. Industrial Trucks & Services order intake declined 1.2 percent to EUR 5.897 billion, while Intelligent Automation Solutions order intake dropped 12.4 percent to EUR 2.575 billion against a strong comparison period that included major project orders.

KION's October outlook calls for group revenue of EUR 11.450 billion to EUR 11.750 billion, compared with the previous range of EUR 11.525 billion to EUR 12.025 billion. Adjusted EBIT is now expected at EUR 815 million to EUR 875 million, below the earlier EUR 880 million to EUR 980 million range. Free cash flow guidance was reduced to EUR 400 million to EUR 500 million from EUR 420 million to EUR 540 million.

Management attributed the changes mainly to Industrial Trucks & Services order intake that fell short of expectations in the third quarter. KION now expects to reach its medium-term target of a double-digit adjusted EBIT margin only after 2027, rather than within the earlier planning horizon.

What the figures mean for investors

The results leave KION with two contrasting operating signals. Automation is expanding rapidly and contributed to higher group earnings, while the truck business remains exposed to regional competition, product mix and slower order momentum. The lower group targets therefore keep execution in Industrial Trucks & Services central to the investment case.

At 09:43 CET on Monday, November 2, KION stock traded at 32.70 euros on Lang & Schwarz. The real-time quote of KION stock provides the latest market indication for investors.