Jungheinrich after nine months in 2026: Incoming orders significantly increased, medium-term targets adjusted
Despite the ongoing challenging market conditions, Jungheinrich AG significantly increased its incoming orders in the first nine months of financial year 2026.
- Incoming orders: 4,323 million euros (+6.0 per cent)
- Value of revenue: 4,068 million euros (+1.5 per cent)
- EBIT/EBIT ROS: 241.8 million euros/5.9 per cent
- Forecast for 2026 unchanged
- Strategy 2030+: Medium-term revenue and earnings targets adjusted, strategic direction confirmed
Hamburg – Despite the ongoing challenging market conditions, Jungheinrich AG significantly increased its incoming orders in the first nine months of financial year 2026. Group revenue rose slightly. One-off effects impacted earnings performance. The forecast for financial year 2026 remains unchanged. The Group has adjusted its revenue and earnings targets for 2030 to reflect market conditions and established artificial intelligence (AI) as a fifth strategic field of action.
The incoming orders of Jungheinrich AG totalled 4,323 million euros after nine months in 2026. This represents an increase of 6.0 per cent compared with the previous year’s figure of 4,077 million euros. The rise was largely due to intensive sales activities in the “Industrial Trucks & Services” (ITS) and “Automation & Warehouse Equipment” (AWE) segments. Group revenue increased slightly to 4,068 million euros, from 4,008 million euros in the same period of the previous year. Earnings before interest and income taxes (EBIT) amounted to 241.8 million euros, up from 160.3 million euros in the same period of the previous year. EBIT return on sales came to 5.9 per cent, compared to 4.0 per cent in the previous year. This included negative one-off effects amounting to 36.5 million euros in the reporting period, of which 20.5 million euros resulted from the sale of the Russian subsidiary, 8.6 million euros from consequential effects of the strike at the Lüneburg plant and 7.4 million euros from the transformation programme. Adjusted for these one-off effects, EBIT would have been 278.3 million euros, with an EBIT return on sales of 6.8 per cent. One-off effects totalling 162.9 million euros had already adversely affected earnings in the first nine months of 2025. Adjusted, EBIT would have been 323.2 million euros and EBIT return on sales 8.1 per cent. The decrease in earnings also reflects growing competitive pressure. Earnings before taxes (EBT) rose to 219.7 million euros, compared to 138.9 million euros in the same period of the previous year. Profit or loss increased to 134.6 million euros, from 74.0 million euros. As a result of acquisitions, free cash flow was –106 million euros in the first nine months of 2026, compared to 151 million euros in the same period of the previous year. This was mainly caused by cash outflows totalling 157 million euros for the strategic interests in EP Equipment and Navflex as well as the acquisition of the Australia-based All Lift Group, which was concluded on 4 September 2026.
Strategy 2030+: Medium-term revenue and earnings targets are adjusted, strategic direction is confirmed
Against the backdrop of changes in the economic and market conditions, Jungheinrich has adjusted its revenue and earnings targets for 2030. The Group is now aiming for revenue of 7 to 8 billion euros and an EBIT return on sales of 8 to 9 per cent. This adjustment to its targets enables Jungheinrich to take account of increasing geopolitical tensions, weak economic growth in its European core markets and structural shifts in the market for material handling equipment.
Dr Lars Brzoska, Chairman of the Board of Management of Jungheinrich AG: “We are confirming our strategic direction and adhering to our growth trajectory. At the same time, we have to adjust our revenue and earnings targets for 2030 to reflect the change in market conditions. The new medium-term targets will allow us to create a robust foundation for the continued implementation of our strategy. Our goal remains the same – for Jungheinrich to grow profitably and strengthen its global competitiveness. To achieve this, we are focussing on markets and technologies that offer particularly good opportunities for long-term growth and are continuing to implement our strategic measures consistently and quantifiably.”
Artificial intelligence becomes fifth strategic field of action
As part of the implementation of its strategy, Jungheinrich is intensifying its already existing AI activities and combining them as a fifth strategic field of action in addition to its global expansion, automation, portfolio expansion and transformation fields of action. The Group plans to use AI specifically to accelerate innovations, make processes more efficient and create additional customer benefits.
Segment performance
Industrial Trucks & Services
In the “Industrial Trucks & Services” (ITS) segment, incoming orders climbed by 3.5 per cent to 3,531 million euros, compared to 3,411 million euros in the same period of the previous year. Revenue fell 1.8 per cent to 3,388 million euros, from 3,449 million euros. Increases in customer services could not fully offset decreases in new business and short-term rental and used equipment. The segment’s EBIT rose to 221.0 million euros in the first nine months of 2026, from 169.4 million euros in the previous year. EBIT return on sales came to 6.5 per cent, compared to 4.9 per cent in the same period of the previous year. Negative one-off effects amounting to 37.4 million euros adversely affected the segment’s earnings. Adjusted, EBIT would have come to 258.4 million euros and EBIT return on sales 7.6 per cent. In the previous year, negative one-off effects totalled 140.5 million euros. Adjusted, EBIT would have been 309.9 million euros and EBIT return on sales 9.0 per cent. The decrease in earnings also reflects growing competitive pressure.
Automation & Warehouse Equipment
The “Automation & Warehouse Equipment” (AWE) segment developed positively in the first nine months of 2026. Incoming orders climbed by 19.9 per cent to 878 million euros, compared to 732 million euros in the same period of the previous year. Revenue rose by 16.6 per cent to 751 million euros, from 644 million euros in the previous year. This was primarily thanks to the Automation business field. EBIT improved to 0.8 million euros, compared to –30.3 million euros in the same period of the previous year. EBIT return on sales was 0.1 per cent, up from –4.7 per cent. This includes a release of provisions in the amount of 0.9 million euros in connection with the transformation programme. Adjusted, EBIT would have come to –0.1 million euros and EBIT return on sales –0.0 per cent. In the previous year, negative one-off effects amounting to 22.4 million euros adversely affected the segment’s earnings. Adjusted, the previous year’s EBIT would have been –7.9 million euros and EBIT return on sales –1.2 per cent.
Forecast for 2026 unchanged
The Board of Management has made no changes to the forecast for financial year 2026 published on 23 July 2026 and confirmed in the interim report as of 30 June 2026.
For 2026, Jungheinrich is expecting incoming orders of between 5.5 billion euros and 6.1 billion euros, compared to 5.4 billion euros in 2025, and Group revenue of between 5.3 billion euros and 5.9 billion euros, compared to 5.5 billion euros. EBIT in the current year is expected to be between 340 million euros and 400 million euros, up from 228 million euros in 2025. This corresponds to an EBIT return on sales of between 6.2 per cent and 7.0 per cent, compared to 4.2 per cent in the previous year. EBT is forecast to be between 310 million euros and 370 million euros, up from 196 million euros in 2025, while EBT return on sales is predicted to be between 5.6 per cent and 6.4 per cent, up from 3.6 per cent. ROCE is anticipated to be between 12 per cent and 16 per cent, compared to 8.3 per cent in 2025. Free cash flow is forecast to exceed 50 million euros, primarily due to M&A transactions, compared to 314 million euros in the previous year. The EBIT and EBT forecast takes into account negative one-off effects totalling 40 million euros. Of this figure, 21 million euros relates to the deconsolidation of the Russian subsidiary sold in February 2026, 10 million euros to the transformation programme and 9 million euros to consequential effects of the strike at the Lüneburg plant. The forecast for free cash flow includes cash outflows for the interest in EP Equipment of around 93 million euros, for the acquisition of All Lift of around 60 million euros and for the interest in Navflex of around 4 million euros.
For the ITS segment, Jungheinrich is expecting incoming orders of between 4.5 billion euros and 4.9 billion euros in 2026, compared to 4.5 billion euros in 2025, and revenue of between 4.4 billion euros and 4.8 billion euros, compared to 4.6 billion euros in the previous year. EBIT is expected to be between 310 million euros and 370 million euros, up from 222 million euros in 2025. This corresponds to an EBIT return on sales of between 7.0 per cent and 7.6 per cent, up from 4.8 per cent in the previous year.
For the AWE segment, Jungheinrich is expecting incoming orders of between 1.0 billion euros and 1.2 billion euros in the current year, compared to 0.9 billion euros in 2025, and revenue of between 0.9 billion euros and 1.1 billion euros, compared to 0.9 billion euros in 2025. EBIT is expected to be between 0 million euros and 15 million euros, up from –21 million euros in the previous year. This corresponds to an EBIT return on sales of between 0.0 per cent and 1.5 per cent, up from –2.3 per cent in the previous year.
