03.01.2017
KION GROUP AG DE000KGX8881
DGAP-News: KION Group awarded first investment grade rating
DGAP-News: KION GROUP AG / Key word(s): Rating
KION Group awarded first investment grade rating (news with additional
features)
03.01.2017 / 12:45
The issuer is solely responsible for the content of this announcement.
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- Fitch Ratings assigned the company a Long-Term Issuer Default Rating of
BBB- with a stable outlook
- CFO Thomas Toepfer: "Rating reflects strong financial profile, very good
and stable operating margins and free cash flow generation"
- Fitch: KION Group "in many respects in line with investment grade rating
requirements of a capital goods or diversified manufacturing
company"
Wiesbaden, 3 January 2017 - Two months after the acquisition of Dematic, a
leading specialist for automation and supply chain optimisation, the KION
Group has received its first investment grade rating. The international
agency Fitch Ratings assigned the company a Long-Term Issuer Default Rating
of BBB- with a stable outlook.
"We are very pleased at the recognition Fitch has granted us with this
rating which validates the organization's hard work over the past years,"
said Thomas Toepfer, CFO of the KION Group, a leading global supplier of
industrial trucks, related services and automated supply chain solutions.
"The investment grade rating reflects the company's excellent financial
profile, which has continuously improved in recent years, with very good
and stable profitability and free cash flow generation."
Fitch highlighted that the KION Group's financial profile "is in many
respects in line with investment grade rating requirements of a capital
goods or diversified manufacturing company. The group's operating margins
are strong. Despite high capex levels, Fitch expects FCF generation to be
strong, further aided by a moderate dividend policy (up to 35% of net
profits) and low debt servicing needs (...)" In addition, Fitch Ratings
sees Dematic as complementary to the KION Group as it will expand its
potential customer base, improve its exposure to the US market and provide
the company with diversification.
International rating agencies Standard & Poor's and Moody's last awarded
the Group BB+ with a negative outlook and Ba1 under review for a downgrade
respectively.
Website: kiongroup.com/mediasite
Twitter: @kion_group
The Company
The KION Group is a global leader in industrial trucks, related services,
and supply chain solutions. Across more than 100 countries worldwide, the
KION Group designs, builds and supports logistics solutions that optimize
material and information flow within factories, warehouses and distribution
centres. The company is the largest manufacturer of industrial trucks in
Europe, the second-largest producer of forklifts globally, and a leading
provider of warehouse automation.
The KION Group's world-renowned brands are clear industry leaders. Dematic,
the newest addition to the KION Group, is a global leader in automated
material handling providing a comprehensive range of intelligent supply
chain and automation solutions. Egemin Automation is a leading logistics
automation specialist with a particular strength in AGVs. The Linde and
STILL brands serve the premium industrial truck segment. Baoli focuses on
industrial trucks in the economy segment. Among its regional industrial
truck brands, Fenwick is the largest supplier of material handling products
in France, OM STILL is a market leader in Italy, and Voltas is a leading
provider of industrial trucks in India.
With a global installed base of more than 1.2 million industrial trucks and
over 6,000 installed systems, KION Group's customer base includes companies
in all industries and of all sizes on six continents. The company's 30,000
dedicated and highly skilled employees generated more than EUR6.7 billion
in pro-forma revenue for the calendar year 2015.
Disclaimer
This document and the information contained herein are for information
purposes only and do not constitute a prospectus or an offer to sell or a
solicitation of an offer to buy any securities in the United States or in
any other jurisdiction.
This release contains forward-looking statements that are subject to
various risks and uncertainties. Future results could differ materially
from those described in these forward-looking statements due to certain
factors, e.g. changes in business, economic and competitive conditions,
regulatory reforms, results of technical studies, foreign exchange rate
fluctuations, uncertainties in litigation or investigative proceedings, and
the availability of financing. We do not undertake any responsibility to
update the forward-looking statements in this release.
Further information for the media
Michael Hauger
Head of Corporate Communications
Tel.: +49 (0)611 770 655
Mobile: +49 (0)151 16 86 55 50
[email protected]
Frank Brandmaier
Head of Corporate Media Relations
Tel.: +49 (0)611 770 752
[email protected]
Further information for investors
Dr Karoline Jung-Senssfelder
Head of Investor Relations and M&A
Tel.: +49 (0)611 770 450
[email protected]
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Additional features:
Document: http://n.eqs.com/c/fncls.ssp?u=UOVFNDTYVW
Document title: Download press release as PDF
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03.01.2017 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: KION GROUP AG
Abraham-Lincoln-Str. 21
65189 Wiesbaden
Germany
Phone: +49 (0)611 770-0
Fax: +49 (0)611 770-690
E-mail: [email protected]
Internet: www.kiongroup.com
ISIN: DE000KGX8881
WKN: KGX888
Indices: MDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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533695 03.01.2017
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