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Jungheinrich revises forecasts

Wednesday, 29 July 2020 ( #985 ) - Hamburg, Germany
Jungheinrich has
Jungheinrich has "a very healthy financial position and a solid liquidity reserve".
Jungheinrich has issued a new forecast for 2020 on the back of its performance in the first half of the year. In its latest update, Jungheinrich notes a fall in orders in the first half of 2020 - 53,900 units - down from 67,000 this time last year. The board notes that the forecast for the 2020 financial year published on 18 December 2019 and confirmed with the publication of the 2019 annual report on 18 March 2020 did not cover the consequences of the COVID-19 pandemic and was withdrawn at the end of April 2020 due to the uncertainty regarding the expected consequences of the pandemic on Jungheinrich's further business development. Directors say they are "now better able to estimate the course of the remainder of the financial year". Jungheinrich anticipates incoming orders between EUR3.4 billion and EUR3.6 billion (USD4 - 4.23 billion) in 2020. Group revenue is also expected to fall between the same figures. Jungheinrich also aims to slightly increase its marketshare in Europe from the 2019 level of 20.2%. The latest forecast is based on the assumption that the ongoing COVID-19 pandemic will not lead to a second extensive lockdown and that supply chains will remain mostly intact. The forecast ranges already take into account certain negative developments on the customer and supplier side. Despite the downturn, the company stresses that it has a very healthy financial position and a solid liquidity reserve.