Jungheinrich AG has put a difficult 2009, affected by the global economic crisis, behind it, breaking even after eight months in the northern hemisphere autumn of 2009.

In its preliminary financial results for the year ended 31 December 2009, Jungheinrich reports that all its business areas declined 23% from the prior financial year's EUR2.145 billion (USD2.906 billion) to EUR1.654 billion (USD2.241 billion). Group net sales for 2009 were down 22% from EUR2.145 billion (USD2.905 billion) to EUR1.677 billion (USD2.272 billion).

The group's measures to manage the financial crisis resulted in it breaking even in operating terms. Earnings before interest and taxes for 2009 totaled EUR8 million (USD10.8 million). However, EBIT decreased to a negative EUR72 million (USD97.5 million) after taking into account one-off expenses of EUR80 million (USD108.4 million). EBIT for the prior financial year was EUR122 million (USD165.3 million). Jungheinrich says it will elaborate on details of its results at its 14 April press conference in Hamburg.

Chairman of the board Hans-Georg Frey says the group reacted "quickly and emphatically" to the collapse of materials handling equipment markets, which shrank by 37% worldwide and by about 46% in its core market Europe.

"By taking comprehensive adjustment and restructuring measures ... this enabled our company to achieve an operative turnaround as early as autumn, while growing its market share," he says.

Jungheinrich says it expects the global economy to recover slowly and does not anticipate that the sector, which it is active in, will experience substantial recovery before the second half of 2010.

Forkliftaction.com News reported that over 1,000 Jungheinrich staff in and outside Germany were affected by restructuring measures last year (Forkliftaction.com News #421).