UPDATE 1-Kion Q3 orders rise 9 percent on Chinese demand

miércoles 5 de noviembre de 2014 02:47 GYT
 

* Q3 orders up 9 pct to 1.14 bln eur

* Adjusted EBIT up 11 pct to 112 mln eur

* Full-year outlook reiterated (Adds details on regions, earnings, background)

FRANKFURT, Nov 5 (Reuters) - German forklift truck maker Kion said third-quarter orders rose 9 percent, in line with expectations, lifted by strong demand from China and for electric forklift trucks.

Kion reiterated its 2014 guidance for order intake and sales to rise slightly and adjusted earnings before interest and tax (EBIT) to rise markedly, while free cash flow should be significantly higher despite growing capital expenditure.

The company said on Wednesday a considerable decline in Brazil over the first nine months was more than offset by growth in China and Europe. Demand was strong in Italy, Britain, Germany, Poland and the Czech Republic and weak in France.

Kion announced an 83 million-euro investment programme in July as it seeks to overtake Toyota Industries to become global market leader by 2020.

Sales of used trucks rose 15 percent in the third quarter while new business rose just 2 percent.

Quarterly orders rose to 1.14 billion euros ($1.43 billion) and sales rose 5 percent to 1.14 billion euros. Adjusted EBIT rose 11 percent to 112 million euros and net profit leapt to 58 million euros from 11 million a year earlier.

Analysts polled by Reuters had expected third-quarter order intake of 1.14 billion euros, revenues of 1.14 billion and net income of 50 million euros, on average. \

($1 = 0.7976 euro) (Reporting by Georgina Prodhan; Editing by Ludwig Burger and Maria Sheahan)