Despite describing market conditions in Q1 2025 as a “persistently difficult environment”, Jungheinrich was able to record a modest 2.4% year-on-year (y-o-y) increase in revenue to EUR1.3 billion (USD1.47 billion).

Jungheinrich says incoming orders for all business fields - new business, short-term rental and used equipment, as well as after-sales services – amounted to EUR1.39 billion (USD1.56 billion), a 1.2% y-o-y increase.

Volker Hues, member of the board of management for finance at Jungheinrich says: “Despite a subdued economy and high geopolitical risks, Jungheinrich’s business development was robust in the first three months. Incoming orders and revenue developed in line with our expectations.”

The same day it released its financial report for Q1, Jungheinrich also released its new strategic framework for the next five years, Strategy2030+, which sets target revenues at EUR10 billion (USD11.2 billion) on an organic basis by 2030.

“Building on its strong core business in Europe, key strategic action fields for Jungheinrich will include further global expansion with a focus on North America and the Asia-Pacific (APAC) region,” the company states.

Other areas of growth and innovation are expected to be developed by Jungheinrich’s warehouse automation business and an extension of its product portfolio to include its Mid-Tech forklift.

“The company expects key market drivers to remain favourable even in times of geopolitical volatility,” Jungheinrich states. “The demand for material handling solutions is anticipated to continue to increase, in particular in the area of warehouse automation which is estimated to grow by 8% on average over the next five years. 

“Jungheinrich expects that its strategic initiatives will enable the company to outperform the market.”