08.11.2016

Jungheinrich confirms forecast for 2016

· January to September 2016: incoming orders up 15 per cent in value and 14 per cent in terms of units; net sales up 11 per cent · Orders on hand close September 44 per cent higher than at the end of 2015

The Jungheinrich Group stayed its course after nine months. Growth accelerated again in the third quarter. Contributing factors included mounting demand for material handling equipment in Europe, Jungheinrich's core market, and the logistics systems business. All in all, the company looks back on strong first nine months of the year.

Says Dr. Volker Hues, Chief Financial Officer of Jungheinrich AG: "Jungheinrich's successful business trend and growth course are continuing and on track. We outperformed the market and the competition yet again.

Based on the current, positive market assessments and robust order books, we confirm the forecast lifted in August for the full 2016 fiscal year for incoming orders, which are expected to total between 3.1 and 3.2 billion euros and consolidated net sales, which should range between 3.0 and 3.1 billion euros. Based on our estimates, EBIT for the financial year underway will amount to between 228 and 238 million euros.

Jungheinrich continues to clearly pursue its Group strategy and is positioning itself successfully the world over as a comprehensive intralogistics solution provider."

Development from January to September 2016

From January to September of 2016, the world material handling equipment market displayed positive development, growing by 6 per cent (+13 per cent in the third quarter alone). The European market was the driving force, expanding by a good 13 per cent. Following the collapse of recent years, Russia returned to its course for growth (+28 per cent). The Asian market recorded a smaller gain, growing by 3 per cent (+15 per cent in the third quarter alone) with demand in China rising by 9 per cent since January. Market volume in North America was 3 per cent larger year on year (+12 per cent in the third quarter alone). 

By the end of the nine-month period, the warehousing equipment product segment posted a gain of 13 per cent—the strongest increase the world over. Contributing to this growth were Europe and Asia, posting gains of 16 per cent and 12 per cent, respectively. In the period under review, the world market for battery-powered counterbalanced trucks expanded by 8 per cent, whereas global demand for forklifts with IC engine-powered drives dropped by 2 per cent. In the IC engine-powered counterbalanced truck product segment, the shrinkage of the North American market, which was 7 per cent smaller, was the main reason for the market's weakness. In Europe, market volume increased by 4 per cent in the IC engine-powered truck segment and by 13 per cent for battery-powered forklifts.

Jungheinrich displayed very positive development and maintained its course for growth in this environment. In the first nine months of the new financial year, the value of incoming orders in all divisions totalled 2,407 million euros—up 15 per cent on the 2,089 million euros recorded a year earlier. Unit-based incoming orders in new truck business, which include orders for both new forklifts and trucks for short-term hire, amounted to 82.4 thousand forklifts after the first nine months of 2016—up 14 per cent on the same period last year (72.4 thousand trucks). This was primarily due to very good demand in Europe, Jungheinrich's core market. By September 30, 2016, orders on hand in new truck business totalled 689 million euros and were thus 173 million euros, or 34 per cent, up on the figure recorded by the same date in 2015 (516 million euros). The rise compared to the 477 million euros in value at the end of 2015 amounted to 212 million euros, or 44 per cent. The order reach was thus five months. By the end of September 2016, the Jungheinrich Group's net sales amounted to 2,185 million euros (prior year: 1,965 million euros) exceeding last year's corresponding figure by 11 per cent. In the same period, production output advanced by 14 per cent to 78.9 thousand trucks (prior year: 69.5 thousand forklifts). The Jungheinrich Group closed the nine-month period of 2016 with earnings before interest and taxes (EBIT) of 165.7 million euros (prior year: 151.4 million euros) —  9 per cent higher year on year. The EBIT return on sales (EBIT ROS) was 7.6 per cent (prior year: 7.7 per cent). 

The Jungheinrich Group at a Glance

 

Q3 2016

Q3 2015

Change
in %

Q1–Q3

2016

Q1–Q3

2015

Change
in %

Incoming orders

(€ million)

781

720

8.5

2,407

2,089

15.2

Incoming orders
(units)

25,700

23,100

11.3

82,400

72,400

13.8

Production

(units)

27,400

22,900

19.7

78,900

69,500

13.5

Net sales

(€ million)

754

665

13.4

2,185

1,965

11.2

EBIT

(€ million)

54.1

52.8

2.5

165.7

151.4

9.4

EBIT ROS 1

(per cent)

7.2

7.9

---

7.6

7.7

---

EBT

(€ million)

50.4

47.1

7.0

152.4

138.9

9.7

EBT ROS 2

(per cent)

6.7

7.1

---

7.0

7.1

---

Net income
(€ million)

34.0

34.4

-1.2

107.3

98.6

8.8

Employees

(FTE, 09/30) 3

 

14,760

13,237

11.5

1 EBIT / net sales x 100.
2 EBT / net sales x 100.
3 FTE = full-time equivalents.

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