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Kion Group Q2 profit climbs 103.3% YOY

KION GROUP AG said its second-quarter normalized net income came to 52 euro cents per share, a gain of 103.2% from 26 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 €51.3 million, a gain of 103.3% from €25.2 million in the prior-year period.

The normalized profit margin climbed to 3.8% from 2.2% in the year-earlier period.

Total revenue increased 9.8% year over year to €1.26 billion from €1.14 billion, and total operating expenses climbed 9.3% from the prior-year period to €1.17 billion from €1.07 billion.

Reported net income grew 59.5% on an annual basis to €51.4 million, or 52 cents per share, from €32.2 million, or 33 cents per share.