Ad-hoc release: Jungheinrich adjusts forecast for 2019
Jungheinrich cannot escape the distinct economic slowdown and the significant downturn in the forklift truck market and is adjusting its forecast for the year 2019.
Hamburg. After a good start to the current financial year, Jungheinrich has recently registered a sharp fall in its customers’ investment activities. This is due to the gloomier macroeconomic environment and the related current developments in the market for material handling equipment. The global market shrank by 5 per cent to the end of June on a cumulative basis. In Europe, Jungheinrich’s core market, the market contracted by 7 per cent. Taking the month of June in isolation, the European market even fell by 16 per cent. Under these circumstances, and in the absence of any positive economic and market signals, the Board of Management anticipates that this trend will continue for the remainder of the year. This will result in lower production figures in the second half-year 2019.
For the full year 2019 the Board of Management is therefore expecting incoming orders of between €3.80 billion and €4.05 billion (previous forecast: €4.05 billion to €4.20 billion). Group revenue is expected to remain within the previous forecast range of €3.85 billion to €4.05 billion.
According to current estimates, EBIT should be between €240 million and €260 million in 2019 (previous forecast: €275 million to €295 million). A range of 6.0 per cent to 6.7 per cent is expected for the EBIT return on sales (previous forecast: 7.0 per cent to 7.4 per cent). EBT is expected to amount to between €215 million and €235 million (previous forecast: €250 million to €270 million). EBT return on sales should come to 5.4 per cent to 6.1 per cent (previous forecast: 6.4 per cent to 6.8 per cent).
The interim report for Jungheinrich AG as of 30 June 2019 will be published on 08 August 2019.
Press enquiries to:
Martin Wielgus - Head of Corporate Communications
+49 151 54255852
martin.wielgus@jungheinrich.de
www.jungheinrich.com
Analyst/investor enquiries to:
Andrea Bleesen - Head of Investor Relations
+49 40 6948 - 3407
andrea.bleesen@jungheinrich.de
www.jungheinrich.com
About Jungheinrich
Founded in 1953, Jungheinrich ranks among the world’s leading solutions providers for the intralogistics sector. With a comprehensive portfolio of material handling equipment, logistics systems and services, Jungheinrich is able to offer customers tailored solutions for the challenges posed by Industry 4.0. The Hamburg-based Group is represented worldwide in 40 countries with its own direct sales companies and in approximately 80 other countries through partner companies. Jungheinrich employs 18,000 people worldwide and generated consolidated revenue of €3.8 billion in 2018. The Jungheinrich share is listed on the SDAX.