* Kion aims to replace Toyota Industries as No.1
* To focus on growth in United States, China
* Sees 2014 adj EBIT up by high single-digit percentage
* Eyes adj EBIT margin of at least 10 pct in medium term
(Recasts, adds CEO comments, details on outlook)
FRANKFURT, March 20 German forklift truck maker
Kion aims to overtake Toyota Industries Corp
to become global market leader no later than 2020 by focusing on
growth in Asia and the United States, its chief executive said
Kion posted sales of about 4.5 billion euros ($6.3
billion)in 2013, giving it a global market share of 14.1
percent, while Toyota's Materials Handling business last had
annual sales of about 5.6 billion euros.
"Our goal is to become the sector's No.1," Kion CEO Gordon
Riske told journalists after the company published its first
annual financial report since its stock market debut last year.
The Wiesbaden, Germany-based group currently generates more
than 70 percent of its revenue in western Europe, where a
sluggish economy and high costs have held back investments.
Now it is developing new products and introducing its STILL
brand of forklift trucks to the fast-growing U.S. market, which
is benefiting from a revival of manufacturing sector following
an extended slump during the global economic crisis.
"Re-industrialisation isn't just a legend, it is really
happening there," Riske said.
In China, where it has a 7 percent market share, Kion is
rolling out new Linde models that target somewhat lower-end
customers to build more scale.
In addition, Kion aims to step up use of shared modules and
platforms to lift synergies across brands, which finance chief
Thomas Toepfer said could add 1.5 percentage points to the
group's profit margin.
Kion posted a margin on adjusted earnings before interest
and tax (EBIT) of 9.3 percent last year and aims to boost that
figure to at least 10 percent in the medium term.
The group said it expects margins to reach a record level
this year already, as sales grow by up to 5 percent and adjusted
operating profit rises by a high single-digit percentage.
Kion's stock has gained about 41 percent in value since its
listing last June, giving the company a market value of 3.36
billion euros. KKR and Goldman Sachs own a
combined 34.5 percent stake in Kion, and China's Weichai Power
holds 33.3 percent of shares.
($1 = 0.7189 euros)
(Reporting by Maria Sheahan; Editing by Mark Potter)