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Kion Group profit misses consensus by 15.1% in Q2

KION GROUP AG said its normalized net income for the second quarter was 85 euro cents per share, compared with the S&P Capital IQ consensus estimate of €1.00 per share.

EPS climbed 45.1% year over year from 59 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €96.0 million, a gain of 65.7% from €58.0 million in the prior-year period.

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

Total revenue rose 50.1% on an annual basis to €2.02 billion from €1.34 billion, and total operating expenses increased 50.0% from the prior-year period to €1.87 billion from €1.25 billion.

Reported net income grew 69.5% on an annual basis to €107.1 million, or 95 cents per share, from €63.2 million, or 64 cents per share.