Jungheinrich reports "resilient" half year resultsGerman materials handling and intralogistics specialist Jungheinrich has maintained its group revenue guidance range for the financial year at EUR5.3 billion (USD5.78 billion) to EUR5.9 billion 6.44 billion), having recorded what it describes as “resilient” half year results.
Jungheinrich’s overall revenue in H1 2024 dipped 1.53% year-on-year to EUR2.62 billion (USD 2.86 billion).
At the end of H1 2024, orders from new business came to EUR1.520 billion (USD1.66 billion), a year-on-year increase of 5.5%
Jungheinrich continues to expect incoming orders within a range of EUR5.2 billion (USD5.67 billion) to EUR5.8 billion (USD6.33 billion) in the 2024 financial year, which would mark a slight increase on the EUR5.2 billion (USD5.67 billion) recorded in 2023.
“At EUR2,665 million (USD2.9 billion), incoming orders comprising all business fields – new business, short-term rental and used equipment, and after-sales services – saw stable development in the reporting period compared to the previous year (EUD2.68 billion - USD2.03 billion).
Lars Brzoska, chairman of the board of management of Jungheinrich, notes “the first half of the year was marked by challenging economic conditions.
“The continued weak development of the German economy was particularly noticeable in the first six months of the current financial year,” Brzoska continues. “However, with an EBIT return on sales of 8.2%, Jungheinrich recorded a resilient margin – although here we profited from the measures to increase earnings already introduced in the previous year.
“We will continue to press ahead with the implementation of our Strategy 2025+ and confirm our forecast for the current financial year.”
Jungheinrich manufactures and sells a wide range of forklifts, pallets trucks and lifters and scissor lift platforms.
Jungheinrich’s R&D focus during the period has continued to be the production of new materials handling equipment “with emphasis on the further development of efficient energy storage systems based on lithium-ion technology”, the company states.