Jungheinrich gains momentum

News Story
- 10 Nov 2016 ( #795 ) - Hamburg, Germany
2 min read
The Jungheinrich Group continues to experience growth, with sales and orders rising in the third quarter. Contributing factors include mounting demand for materials handling equipment in Europe, Jungheinrich's core market, and growth in the logistics systems business.

Volker Hues, Jungheinrich chief financial officer, says the company outperformed the market and the competition yet again.

"Based on the current positive market assessments and robust order books, we confirm the forecast lifted in August for the full 2016 fiscal year for incoming orders, which are expected to total between EUR3.1 and EUR3.2 billion (USD3.4-3.5 billion), and consolidated net sales, which should range between EUR3 and EUR3.1 billion (USD3.3-3.4 billion). Based on our estimates, EBIT for the financial year under way will amount to between EUR228 and EUR238 million (USD251-262 million).

"Jungheinrich continues to clearly pursue its group strategy and is positioning itself successfully the world over as a comprehensive intralogistics solution provider."

Looking more broadly, Jungheinrich notes that from January to September of 2016, the world materials handling equipment market displayed positive development, growing by 6% (+13% in the third quarter alone). The European market was the driving force, expanding by 13%. Following the collapse of recent years, Russia returned to its course for growth (+28%). The Asian market recorded a smaller gain, growing by 3% (+15% in the third quarter), with demand in China rising by 9% since January. Market volume in North America was up 3% year on year (+12% in the third quarter).

Over the nine-month period, the warehousing equipment product segment posted a gain of 13%. Contributing to this growth were Europe and Asia, posting gains of 16% and 12%, respectively.

In the period under review, the world market for battery-powered counterbalance trucks expanded by 8%, while global demand for forklifts with IC engine-powered drives dropped by 2%. The IC engine-powered counterbalance truck product segment was driven down by the 7% drop in the North American market.

In Europe, market volume increased by 4% in the IC engine-powered truck segment and by 13% for battery-powered forklifts.

Jungheinrich displayed very positive development and maintained its course for growth in this environment, the company notes. In the first nine months of the financial year, the value of incoming orders rose 15% from the same period last year.

Unit-based incoming orders in new truck business, which include orders for both new forklifts and trucks for short-term hire, amounted to 82,400 forklifts after the first nine months of 2016 - up 14% on the same period last year (72,400). Again, Europe was a major contributor.
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