Earnings before interest and tax (EBIT[1]) went up by 6.3 per cent to EUR442.9 million. With the EBIT[1] margin reaching 9.5 per cent, the Group exceeded its very good prior-year profitability figure of 9.3 per cent.
Net income climbed by 28.8 per cent to EUR178.2 million. This was attributable to a record adjusted EBIT figure plus significantly lower finance costs as a consequence of the IPO in 2013 and various refinancing activities. Free cash flow also rose, amounting to EUR305.9 million (2013: EUR195.6 million). Thanks to this good cash flow, the KION Group's net financial debt stood at EUR810.7 million at the end of 2014, compared with EUR979.3 million a year earlier. The net financial leverage is therefore just over 1.0 times adjusted EBITDA.
The number of employees advanced from 22,273 to 22,669.
In the fourth quarter of 2014, the KION Group generated substantial year-on-year increases. While the total value of order intake grew by 9.9 per cent to EUR1.311 billion, revenue was 10.8 per cent higher at EUR1.306 billion. At EUR134.2 million, the KION Group's earnings before interest and tax (EBIT[1]) had improved by an impressive 16.1 per cent compared with the final three months of 2013. The EBIT[1] margin climbed from 9.8 per cent to 10.3 per cent, a record level for a quarterly period.