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Kion Group profit misses consensus by 57.1% in Q1

KION GROUP AG said its first-quarter normalized net income was 35 euro cents per share, compared with the S&P Capital IQ consensus estimate of 82 cents per share.

EPS declined 24.3% year over year from 46 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €38.0 million, a decrease of 16.7% from €45.6 million in the prior-year period.

The normalized profit margin dropped to 2.1% from 3.7% in the year-earlier period.

Total revenue climbed 48.4% year over year to €1.81 billion from €1.22 billion, and total operating expenses grew 50.8% year over year to €1.72 billion from €1.14 billion.

Reported net income grew 30.3% from the prior-year period to €42.1 million, or 39 cents per share, from €32.3 million, or 33 cents per share.