Jungheinrich chairman Dr Cletus von Pichler

Jungheinrich AG has increased its operating income for the fifth straight year, Dr Cletus von Pichler, chairman of the board of management, told a press conference in Hamburg.

Earnings before interest and taxes (EBIT) for 2004 were up 6.2 per cent to EUR83 million (USD108.2 million) from EUR78 million (USD101.7 million) in 2003.

Group net sales increased 4 per cent from EUR1471 million (USD1917 million) to EUR1531 million (USD1996 million).

New business and after-sales service, each posting 4 per cent growth, contributed to the increase in group sales.

At December 31, 2004, the group had 9,008 employees, 50.4 per cent of whom worked outside Germany. Jungheinrich expanded its sales and after-sales workforce but the group lost staff after discontinuing production operations in Argentan, France, Leighton Buzzard, the UK, and Madrid, Spain (Forkliftaction.com News #157)

Group management would implement restructuring measures at its main plant in Nordestedt, Germany, this year to increase production output and flexibility and safeguard the site, von Pilcher said.

The group expects 150 jobs will be shed through streamlining measures by the end of 2007.