Newsletter #175 (View other news stories)
Jungheinrich optimistic for profitable year
HAMBURG, Germany
Thursday, 16 Sep 2004
Jungheinrich AG improved net sales and earnings in the first half of 2004, citing a "substantial revitalisation" in demand, and is confident of a profitable full year.
In the second quarter, incoming orders rose 10 per cent to EUR394 million (USD478.5 million), exceeding the EUR358 million (USD434.8 million) achieved in the same period of 2003.
Half-year gross earnings rose from EUR27.8 million (USD33.8 million) last year to EUR30.1 million (USD36.6 million). Net income increased to EUR19.4 million (USD23.6 million) from 2003’s EUR18 million (USD21.9 million).
For the second quarter, Jungheinrich’s forklift sales rose 6 per cent to EUR379 million (USD460.3 million), compared to EUR358 million (USD434.8 million). Net sales for the first half reached EUR724 million (USD879.2 million), eclipsing the EUR716 million (USD869.5 million) posted last year.
Jungheinrich’s financial statement said second quarter demand for materials handling equipment in Europe increased 24 per cent, based on units compared with the second quarter of 2003.
"The European materials handling equipment sector is likely to record strong growth this year," the report said. "By contrast, persistent pressure on prices and the significant increase in raw materials pose burdens."
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