Hans-Georg Frey, chairman of Jungheinrich

Jungheinrich has reported its preliminary financials including record sales and strong earnings for 2008 despite the economic slowdown in the fourth quarter.

The company reports that orders for all divisions increased by 1% from EUR2.12billion (USD2.86billion) to EUR2.14billion (USD2.89billion). Group net sales for 2008 were up 7% from EUR2.001billion (USD2.7billion) to EUR 2.145billion (USD2.9billion). However, earnings before interest and taxes (EBIT) decreased by 13% to EUR121.8m (USD164.7m) from EUR139.5m (USD188.7m).

Hans-Georg Frey, chairman of Jungheinrich, says the company maintained its course for growth in 2008, despite the weakening of the market.

"Our sector's outlook has clouded even further in 2009. The materials handling equipment market has weakened substantially," he says. "We adapted to this difficult situation early on by implementing appropriate projects and measures.

"Jungheinrich is well equipped and will emerge from the global economic crisis a stronger company."

The company is not prepared to make a specific forecast about its future business performance, but Frey says the first few months of the year will give a clear picture of the direction Jungheinrich will go in 2009.

"We are certain that we will not be able to decouple ourselves from the general economic trend," comments Frey.