Solid incoming orders and robust business development at Jungheinrich

Despite the ongoing challenging market conditions, Jungheinrich AG recorded robust business development in the first nine months of the 2024 financial year. Incoming orders for all business fields – new business, short-term rental and used equipment, as well as after-sales services – came to €3931 million in the reporting period, which is slightly above the previous year’s figure of €3873 million (1.5%). Orders on hand in new business amounted to €1497 million as of 30 September 2024. This corresponds to a year-on-year decrease of €90 million, or 5.7%.

Group revenue came to €3923 million in the reporting period, slightly below the previous year’s figure of €4020 million. Decline in revenue from new business due to the difficult market conditions was partly offset by growth in after-sales services and higher revenue from short-term rental and used equipment.

Dr Lars Brzoska, chairman of the board of management of Jungheinrich AG said, “The first nine months of the year were marked by challenging economic conditions. The continued weak development of the German economy was again noticeable in the first nine months of the current financial year. Despite these challenging conditions, Jungheinrich has a solid level of incoming orders overall and a robust margin with an EBIT return on sales of 8.2%. We have benefited in this regard from measures taken to safeguard earnings. Looking ahead to the rest of the year, we substantiate our forecast for incoming orders and revenue, and we do not rule out the possibility that both key figures could be in the lower half of these ranges. We have raised our free cash flow forecast to considerably more than €300 million.”

Jungheinrich employed a total of 20,841 people on a full-time basis throughout the Group as of 30 September 2024. The decrease in the reporting period compared to the figure at the end of December 2023 (21,117) resulted from a cautious personnel policy against the backdrop of the difficult market environment.

In light of current business developments, Jungheinrich reaffirms the forecast published on 28 March 2024 and confirmed in the interim report of 30 June 2024. Jungheinrich continues to expect incoming orders within a range of €5.2 billion to €5.8 billion and Group revenue to be worth between €5.3 billion and €5.9 billion.