Jungheinrich AG experienced production output growth of 25% in 2011 to about 75,500 forklifts, compared to 60,400 forklifts the previous year.

This is against a backdrop of a 23% expansion in the world materials handling equipment market. Jungheinrich's core market, Europe, grew by about 24%.

In 2011, consolidated net sales climbed about 17% to EUR2.116 billion (USD2.821 billion) compared to the previous year's EUR1.816 billion (USD2.421 billion). The new truck business posted an increase of about 24%.

Domestic business was up 16% to EUR571 million (USD761 million) while foreign net sales advanced by about 17% to EUR1.545 billion (USD2.06 billion). Non-European net sales accounted for 7% of total group net sales.

"Our company has returned to its traditional sales and earnings strength and closed the 2011 financial year with a record result," said Hans-Georg Frey, board management chairman, at the group's 29 March annual press conference in Hamburg.

The company generated earnings before interest and taxes of EUR146 million (USD195 million), 49% higher than the previous year's EUR98 million (USD131 million).

In 2011, Jungheinrich invested EUR38 million (USD51 million) in R&D. Lithium-ion batteries were used in Jungheinrich's low-platform truck as the group explored the batteries as potential energy storage for some of its trucks.

The group invested EUR35 million (USD46 million) in a new spare parts centre in Kaltenkirchen, Germany (Forkliftaction.com News #517) and EUR15 million (USD20 million) in a factory in Qingpu, China (Forkliftaction.com News #542). About EUR40 million (USD53 million), which was resolved in early 2012, was set aside for a new warehousing and system equipment plant in Moosburg, Germany (Forkliftaction.com News #553). The projects are slated for commissioning in 2013.

"Based on the market's anticipated growth and in line with the development of business in the first few weeks of the current year, we expect incoming orders to at least range between 2.0 and 2.1 billion euros (USD2.7 billion and USD2.8 billion)," Frey said.

"The sales trend should benefit from the high level of orders on hand at the beginning of the year and from potential opportunities for growth. It still cannot be ruled out that the market may shrink significantly contrary to this assessment, primarily owing to the sovereign debt crisis in Europe," he added.

Jungheinrich is ranked by dhf-intralogistik magazine as the world's third-largest forklift manufacturer (Forkliftaction.com News #556).