Jungheinrich raises forecast for 2021 and publishes numbers as of 31 March 2021
Due to very strong incoming orders in the first quarter of 2021 and an expected high level of demand for the remainder of the year as well, Jungheinrich is raising its forecast for 2021, which was published on 26 March 2021.
Based on updated corporate planning for the entire 2021 year, the Board of Management now expects incoming orders of between €4.2 billion and €4.5 billion (previously: €3.9 billion to €4.1 billion). Due to the great challenges facing the supply chain, Group revenue is expected to fall between €4.0 billion and €4.2 billion (previously: €3.9 billion to €4.1 billion). According to current estimates, earnings before interest and taxes (EBIT) in 2021 will come to between €300 million and €350 million (previously: €260 million to €310 million). Accordingly, EBIT return on sales is expected to range between 7.5 per cent and 8.3 per cent (previously: 6.7 per cent to 7.6 per cent). Earnings before taxes (EBT) are expected to reach €280 million to €330 million (previously: €240 million to €290 million). EBT return on sales should come to between 7.0 per cent and 7.9 per cent (previously: 6.2 per cent to 7.1 per cent). The Board of Management assumes a ROCE value of between 17 per cent and 21 per cent (previously: between 14 per cent and 18 per cent).
It is also expected that Jungheinrich will reach a net credit significantly exceeding €300 million at the end of the 2021 financial year (previously: net credit of significantly more than €200 million).
This updated forecast is based on the assumption that there will be no more widespread lockdowns or plant closures over the course of the year and that the Group’s supply chains will remain intact. We will continue to fully implement measures to ensure Jungheinrich’s ability to deliver. The Strategy 2025+ goals that were published in November 2020 will be further pursued to their full extent and the key targets for 2025 will be reviewed over the course of the year.
Jungheinrich recorded a very strong start to 2021. Incoming orders increased by 30 per cent in the first quarter of 2021 to €1,322 million (previous year: €1,016 million). Revenue rose during the same time period to €959 million (previous year: €920 million). In a demanding market environment, EBIT improved significantly by 34 per cent to €72.1 million (previous year: €53.7 million), also as a result of continued strict cost management. Included in this are additions to provisions in the low two-digit million euro range. The concluded provisions relate to higher costs for the disposal of batteries and warranty obligations. EBIT return on sales rose to 7.5 per cent (previous year: 5.8 per cent). EBT came to €68.2 million (previous year: €43.5 million). Accordingly, EBT return on sales was 7.1 per cent (previous year: 4.7 per cent).
The interim statement of Jungheinrich AG as of 31 March 2021 will be published on 7 May 2021.