Jungheinrich managed to achieve value growth in all its divisions for 2012, despite its key market in Europe shrinking by 6%.

The value of incoming orders for its new truck business, short-term hire, used equipment and after-sales services was up 3% year-on-year to EUR2.251 billion (USD2.884 billion), compared to EUR2.178 million (USD2.791 billion) for the previous year.

Growth was driven especially by the company's logistics system business and the internal combustion, engine-powered truck product segment.

Incoming unit orders in the new truck business dropped by 7% to 73,200 units from 78,700 in the preceding year. Production output, which tracked incoming orders with a time lag, amounted to 73,200 units in 2012; 3% lower than the 75,700 units recorded in the previous year.

Thus, production volume remained below the record level achieved in 2007, when 82,400 forklifts were manufactured.

As of 31 December 2012, the value of orders on hand from new truck business totaled EUR298 million (USD382 million), compared to EUR305 million (USD391 million) the prior year.

"Our company posted new all-time highs in terms of net sales and [operating earnings before interest and taxes (EBIT)] in a difficult market environment," said Hans-Georg Frey, chairman of the board of management, at the annual press conference in Hamburg last month.

Achieving EBIT of EUR150 million (USD192 million), Jungheinrich eclipsed the record level of EUR146 million (USD187 million) recorded in the previous year. Net income improved by 4% to EUR110 million (USD141 million) compared to EUR106 million (USD136 million) the previous year.

Consolidated net sales were up 5% to EUR2.229 billion (USD2.855 billion), compared to EUR2.116 billion (USD2.711 billion) the year before.

New truck business posted an increase of about 8%.

All regions contributed to the rise in net sales. German domestic business was up 5% year on year to EUR598 million, compared to the previous year's EUR571 million (USD732 million). Foreign net sales posted a somewhat stronger rise, advancing by 6% to EUR1.631 billion (USD2.09 billion), compared to the previous year's EUR1.545 billion (USD1.979 billion). As in the previous year, the foreign ratio was 73%. The non-European share of consolidated net sales rose marginally, from 7% to 8%.

As of 31 December 2012, the group employed 11,261 people (prior year: 10,711), 6,094 of whom worked abroad (prior year: 5,786) and 5,167 of whom worked in Germany (prior year: 4,925).

The Jungheinrich Group's research and development expenditures increased from EUR38 million to EUR45 million (USD49 million to USD58 million). Capital expenditure projects included the new spare parts centre in Kaltenkirchen (EUR35 million/USD45 million), the warehousing and system equipment factory in Degernpoint near Moosburg (EUR40 million/USD51 million) and the construction of the factory in Qingpu, China (EUR18 million/USD23 million). The three investment assets are scheduled for commissioning in 2013.

In view of the global economic growth forecast, Jungheinrich expects the size of the world materials handling equipment market to remain stable. Europe's market volume is likely to display stable development and provide opportunities for marginal growth. Jungheinrich has identified potential for growth in Asia, but the Chinese market is expected to recover no earlier than in the second half of this year. The North American market is expected to continue expanding.