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Jungheinrich confirms forecast for 2017

Wednesday, 8 Nov 2017 ( #846 ) - Hamburg, Germany
News Story
Jungheinrich performance at a glance
Jungheinrich has reported continued growth over the first nine months of 2017, primarily driven by high demand in Europe, Jungheinrich’s core market.
Dr Volker Hues, CFO of Jungheinrich, notes: "We continued to operate successfully in the third quarter, building on the momentum of the first half of the year. We are therefore well within the increased forecast range published in the summer. We especially benefited from solid business in our European core market and pleasing market demand in the logistics systems business."
The global market for materials handling equipment recorded strong growth of 17% between January and September 2017. The driving force behind the significant year-on-year increase in market volume was demand from the Chinese market, which climbed by 41%. Demand in Europe rose by 11%, with Western Europe up by 9% and Eastern Europe up by 23%, thanks to Russia.
Global demand in the warehousing equipment product segment increased by 15%, which represents almost 58,000 forklifts. Approximately half could be attributed to Asia, primarily China, followed by Europe. This region was responsible for 38% of the increase.

The 13% increase in global market volume of battery-powered counterbalance trucks was driven by greater demand from Europe (+16%) and considerably more new orders from China (+31%). Approximately 70% of the enormous increase of 21% in global demand for IC engine-powered trucks was due to significantly higher orders from China.
After the first nine months, incoming orders in the new truck business, which include orders for both new forklifts and trucks for short-term hire, totalled 92,100 trucks, up 12% on the corresponding figure in the previous year (82,400 trucks).

At EUR2,596 million (USD3,010 million), the value of incoming orders in the reporting period increased by 8% year-on-year. Almost a quarter of this upswing is attributable to higher demand for logistics systems solutions.
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