FRANKFURT (dpa-AFX) - Forklift manufacturer Kion landed significantly fewer orders in the third quarter than experts had expected. At around 2.62 billion euros, incoming orders were approximately four percent above the previous year's figure, as the MDax-listed company announced in Frankfurt on Thursday. However, industry experts had hoped for more. In a weak overall market, the Kion share lost up to six percent, but was recently able to reduce the minus somewhat.

As has been known since the middle of the month, sales in the third quarter rose by just under one percent year-on-year to just under 2.73 billion euros. Of this, around 224 million euros remained as adjusted earnings before interest and taxes (Ebit). A year earlier, Kion had reported an operating loss of 101 million euros. Below the line, Kion earned 82 million after a loss of just under 93 million in the comparable period.

Management also confirmed the forecasts for operating profit and cash inflow, which had been raised in mid-October, as well as the slightly reduced sales target. With the share price falling by four percent to 31.28 euros after the announcement of the detailed quarterly figures, the stock again approached the lower end of the range between 30 and 40 euros within which the Kion shares have been moving since the beginning of the year.

Kion is worth around four billion euros on the stock exchange - almost half of the shares are owned by the Chinese group Weichai./ngu/zb/jha/