Jungheinrich board of management chairman Dr Cletus von Pichler

The global materials handling market is forecast to expand to 790,000 forklifts this year, says Jungheinrich chief Cletus von Pichler.

"This provides Jungheinrich with positive additional sales opportunities," he said. The projected market is up 5.4 per cent from 2005's market size of 749,000 forklift units.

In 2005, Jungheinrich's earnings before interest and taxes rose 23 per cent from EUR87 million (USD110 million) to EUR107 million (USD135 million). Net income for the group jumped 27 per cent from EUR49 million (USD62 million) to EUR62 million (USD78 million).

The first two months of 2006 saw Jungeheinrich receive orders valued at EUR279 million (USD353 million), up 16 per cent from 2004's EUR241 million (USD305 million). At the end of February, group sales totalled EUR234 million (USD296 million), up 5 per cent from 2005's EUR222 million (USD281 million) in the first two months.

"Following a good start in the first quarter, we expect significant growth in the market in 2006," von Pichler said.

Jungheinrich plans to establish a financial services company in the UK and is establishing a direct sales company in Kiev, Ukraine. In 2005, around EUR40 million (USD51 million) was invested in the Nordestedt plant, in Germany, to increase production output and establish site-safeguarding measures. The measures will continue to be implemented over 2006.