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Kion Group Q3 profit falls YOY

KION GROUP AG said its normalized net income for the third quarter was 54 euro cents per share, a decrease from 55 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €53.2 million, a decrease from €54.7 million in the prior-year period.

The normalized profit margin declined to 4.3% from 4.8% in the year-earlier period.

Total revenue grew 8.6% year over year to €1.24 billion from €1.14 billion, and total operating expenses climbed 8.1% from the prior-year period to €1.13 billion from €1.05 billion.

Reported net income declined 12.9% on an annual basis to €50.4 million, or 51 cents per share, from €57.8 million, or 59 cents per share.