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Morningstar‘s Stock Analysis KGX

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Is it the right time to buy or sell?

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Kion Group Struggling With Cost Management

Business Strategy and Outlook

| Denise Molina, CFA |

Kion Group has excellent growth prospects. Its main challenge will be investing efficiently to support growth without undercutting the business' potential to reach optimal margins and returns. Kion's opportunity lies with the growth in e-commerce and e-procurement, which is driving demand for warehouse equipment, including forklifts, but even more so warehouse automation equipment. Despite rapid growth, e-commerce still accounts for well below half of global retail sales, around 15% in the United States, 20% in the United Kingdom, and roughly 25% in China. The low penetration levels suggest a long runway for growth, as we believe demand for forklifts and warehouse equipment will naturally follow the expansion of warehouses needed to support an e-commerce supply chain.

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Key Statistics KGX

Company Profile KGX

Business Description

Kion Group is the number-two forklift truck manufacturer globally, after Toyota, and the number-one global warehouse automation equipment supplier. The Germany-headquartered company gets 70% of its revenue from the sale of new forklifts and maintenance services. Another roughly 30%, and growing portion, comes from warehouse automation equipment under the Dematic division, which caters to sectors such as e-commerce, third-party logistics, and supermarkets. Kion's forklift trucks and warehouse equipment service the same end markets.

Thea-Rasche-Strasse 8
Frankfurt am Main, HE, 60549, Germany
T +49 69201100
Industry Farm & Heavy Construction Machinery
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 40,804