The first quarter of 2024 at Jungheinrich
Jungheinrich reported a stable trend in incoming orders and revenue as well as a very good development of free cash flow.
- Incoming orders: 1,363 million euros
- Revenue: 1,274 million euros
- EBIT: 101.5 million euros
- Measures to safeguard earnings having impact
- Free cash flow strong at 159 million euros
- Forecast for 2024 confirmed
Hamburg – Business development at Jungheinrich AG was stable in the first quarter of 2024. Incoming orders, which comprises the business fields new business, short-term rental and used equipment, and after-sales services, came to 1,363 million euros in the reporting period despite challenging market conditions, slightly above the previous year’s figure (1,350 million euros). Group revenue amounted to 1,274 million euros (previous year: 1,291 million euros). The decline in revenue from new business was almost fully offset by growth in after-sales services and positive developments in the financial services business. The measures initiated in the previous year to safeguard earnings showed results in the first quarter of 2024. However, they do not fully offset the increased costs from tariff effects and from the increase in personnel largely carried out in the previous year. As a result, earnings before interest and incomes taxes (EBIT) in Q1 2024 remained below the very good results achieved in the previous year (120.1 million euros), coming in at 101.5 million euros, as expected. EBIT return on sales amounted to 8.0 per cent (previous year: 9.3 per cent). Earnings before taxes (EBT) of 95.6 million euros in the first quarter of 2024 were also below the previous year’s figure (119.5 million euros), in line with expectations. EBT return on sales came to 7.5 per cent (previous year: 9.3 per cent). Profit or loss amounted to 67.9 million euros (previous year: 88.4 million euros). Correspondingly, earnings per preferred share
were 0.68 euros (previous year: 0.88 euros). Jungheinrich’s free cash flow developed very well. This figure came to 159 million euros at the end of the quarter (previous year: −232 million euros).
Dr Lars Brzoska, Chairman of the Board of Management of Jungheinrich AG: “Developments were as we expected in the first three months of the 2024 financial year. Incoming orders and revenue are largely stable and on a par with the all-time highs reported in the previous year. The measures we initiated to safeguard earnings are having an impact. We reported a strong development in free cash flow. The forecast made for the 2024 financial year, published in our 2023 annual report on 28 March 2024, remains unchanged.”
