The Asian materials handling market shrank the least in the second quarter of 2009, compared to other world markets.

According to Jungheinrich AG's market intelligence, the world economy continued to decline in the second quarter of 2009 although its momentum was "losing some speed".

Global demand for materials handling equipment was 49% lower year-on-year for the second quarter, compared to 50% for the first quarter of 2009.

Asia contributed the smallest decrease to the global decline, contracting by 40%, with China posting a below-average drop of 26%. Europe's market shrank by 53%. Eastern Europe recorded a 78% decline in demand while Western Europe saw a 46% decrease. The North American market reported a drop of 47%.

In the second quarter of 2009, Jungheinrich AG's net sales dropped by 24% to EUR417 million (USD591 million) compared to the previous year's EUR547 million (USD775 million). New truck business accounted for the single largest decrease, dropping 31%, followed by short-term hire and used equipment business, which recorded a 7% fall.

The company adjusted its incoming order forecast to EUR1.6 billion (USD2.3 billion) instead of the previous forecast of EUR1.7 billion (USD2.4 billion). Its net sales forecast remains the same at EUR1.7 billion (USD2.4 billion).

"We will significantly step up the measures we have taken so far to counter the effects of the crisis. This will dampen our earnings by a high double-digit million euro figure," says Jungheinrich board chairman Hans-Georg Frey.

Frey adds that the company is confident of "generating profits commensurate to the economic situation" from 2010.