Jungheinrich 9-month Profit Declines; Sales Up 12.5%

Jungheinrich AG reported profit of 174.8 million euros in the period January to September 2022 compared to 183.5 million euros, prior year. Earnings per preferred share were 1.72 euros compared to 1.80 euros. Earnings before taxes declined to 234.6 million euros from 249.6 million euros.

Sales were 12.5 percent higher at 3.40 billion euros. The company said the main driver of the growth was new truck business, partially due to solid growth in automated systems. Incoming orders were 3.6 billion euros, up 0.4%.

For 2022, the company now expects incoming orders of between 4.6 billion euros and 4.9 billion euros. Group revenue is expected to fall between 4.6 billion euros and 4.8 billion euros. EBIT will be between 340 million euros and 380 million euros.

Jungheinrich stated that all ongoing and upcoming Strategy 2025+ initiatives and measures will continue as planned. Group revenue is anticipated to grow to 5.5 billion euros by 2025. The target EBIT return on sales is expected to range between 8 percent and 10 percent.

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