Kion stock initially dropped by several percentage points following the presentation of some preliminary figures for the 2023 fiscal year – especially the profit has disappointed in comparison to expectations. However, the stock has since recovered slightly and is currently trading at around 42 euros, still nearly 7 percent above the level of early January (as of February 16, 2024, approximately 10 a.m.).

Overall, the development of the forklift and storage technology manufacturer is good. The majority of analysts see potential for growth in the MDAX-listed company and the financial figures also held some positive surprises. Investors should continue to keep an eye on the Kion stock, also due to the not yet fully digested stock market crash of 2022.

Kion: Higher costs are noticeable According to preliminary figures, Kion achieved a consolidated profit of 306 million euros in 2023 – at first glance, this is more than decent, as the previous year’s profit was „only“ 106 million euros. However, analysts had expected significantly more, on average 341 million euros.

The forklift company cited higher special and one-time costs, as well as financial expenses, as the reason for the weaker result. Kion has not provided any specific details on this yet. However, the free cash flow was a positive surprise, exceeding expectations at 715 million euros in 2023, giving the company more leeway for reducing debt.

Kion stock: New impetus in 2 weeks? The stock performance of Kion can be interpreted in 2 ways: since the end of October last year, the stock has had a strong stock market rally of almost 50 percent. On the other hand, the stock market crash of the crisis year 2022 has not yet been digested – at the end of 2021, the Kion stock was still trading at 100 euros.

This provides further potential for catching up for the MDAX-listed stock, if the outlook is positive. On February 29, Kion will publish its complete figures for 2023 and possibly also provide a more concrete forecast for the current year 2024. If this convinces investors and analysts, the Kion stock can continue to rise.

Meanwhile, most analysts remain positive on the stock after the preliminary figures and have confirmed their price targets. While JPMorgan maintains a target of 34.50 euros and a „neutral“ rating, UBS (confirmed target of 43 euros), Baader Bank (confirmed target of 46 euros) and especially Jefferies (confirmed target of 53 euros) are more optimistic.

Kion stock, 3 years – Source: https://aktienscreener.com