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2007: a record year for Jungheinrich

Thursday, 24 Apr 2008 ( #357 ) - HAMBURG, Germany
News Story
The year 2007 was the best financial year in Jungheinrich AG’s corporate history as it saw demand for all its products and services rise significantly.

"We increased operating income for the eighth consecutive year," says Hans-Georg Frey, Jungheinrich board of management chairman.

Earnings before interest and taxes rose 19% to EUR140 million (USD224.1 million) compared to EUR118 million (USD188.9 million) in 2006. Earnings after taxes or net income grew 22% from EUR67 million (USD107.3 million) to EUR82 million (USD131.3 million) and incoming orders climbed 14% from EUR1.846 billion (USD2.955 billion) to EUR2.120 billion (USD3.394 billion). By 31 December 2007, the value of orders on hand in the new truck business had advanced 27% to EUR334 million (USD534.7 million) compared to 2006’s EUR263 million (USD421 million).

In 2007, consolidated net sales totalled EUR2.001 billion (USD3.204 billion), surpassing the EUR2 billion (USD3.202 billion) mark for the first time and exceeding 2006’s figure (EUR1,748 million) by 14%. Domestic business grew 9% while foreign sales grew 17%.

The biggest jump was made by the new truck business, which posted a 19% increase followed by the used and short-term hire business (15%). After-sales service operations gained 7%.

The group also expanded its work force in 2007. At 31 December 2007, the group employed 10,178 people compared to the previous year’s 9,274. About 53% of the group’s workers were based outside Germany.

Frey says the group expects to achieve "middle single-digit percent" growth rates for incoming orders and sales for 2008.

"We anticipate that the world materials handling equipment market will have a volume of approximately one million trucks (2007: 910,000). This will open up additional sales opportunities for Jungheinrich," he says.
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