Jungheinrich Q1 'in line with expectations'

News Story
- 12 May 2022 ( #1076 ) - Hamburg, Germany
2 min read
Jungheinrich confirms its 2022 forecast
Jungheinrich confirms its 2022 forecast

Business development in the first quarter of the 2022 financial year was in line with Jungheinrich’s expectations. Despite challenges in the supply chains and bottlenecks in the supply of materials, incoming orders, revenue and earnings before interest and income taxes (EBIT) increased against the previous year. 

Russia’s war against Ukraine, which began at the end of February, has led to high levels of uncertainty in the European and global economies, and, thus, also for Jungheinrich’s business development. In light of these circumstances, the company is keeping its forecast for 2022.

Incoming orders rose slightly in the first quarter to EUR1.33 billion (USD1.41 billion) and revenue climbed 10.7% to EUR1.06 billion (USD1.12 billion). This revenue growth was driven in particular by new truck business, rental business and after sales. 

Lars Brzoska, chairman of the board of management of Jungheinrich AG, says the new financial year started as expected. “In addition to the ongoing challenges in the supply chain and massive increases in material and logistics costs, the Russia-Ukraine war also had a negative impact on the first quarter. Despite these challenging circumstances, incoming orders, revenue and EBIT were all higher than in the previous year. So far, market demand remains good.

“We are well positioned with our Strategy 2025+ and will continue to pursue it to achieve our aim of creating sustainable value for all of our stakeholders. As part of our strategy, we are implementing a number of projects and measures, such as the construction of a new plant in Chomutov, Czech Republic, the opening of Jungheinrich’s 41st sales company in New Zealand, and the introduction of numerous innovations from the fields of automation, digitalisation and e-mobility at the LogiMAT intralogistics trade fair at the end of May. This is how we are building the foundation for further profitable growth.”

Looking ahead, directors say the expectations noted in the 2021 annual report have not changed overall in the reporting period. “We, therefore, confirm the forecast made for the 2022 financial year, as published in our ad hoc announcement on 24 March 2022 and the 2021 annual report,” they conclude.

 

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