The order backlog for new business amounted to EUR 1,497 million as at September 30, 2024. This corresponds to a reduction of 5.7% compared to the previous year's figure. Compared to the figure of EUR 1,441 million at the end of 2023, there was an increase of EUR 56 million or 3.9%. At 3,923 million euros, Group sales were below the previous year's figure of 4,020 million euros. The decline in sales in new business due to the difficult market environment was partially offset by growth in customer service and increased sales of rental and used equipment.

Benefiting from measures to secure results

"The first nine months of the current financial year were characterized by challenging economic conditions for Jungheinrich. In particular, the persistently weak development of the German economy continued to make itself felt in the third quarter of the current financial year. Despite this difficult starting point, Jungheinrich recorded a solid order intake overall and posted a robust margin with an EBIT margin of 8.2 per cent. We benefited from the measures we took to safeguard earnings. Looking ahead to the rest of the year, we are specifying our forecast for order intake and sales and do not rule out the possibility that we could be in the lower half of the forecast ranges for both key figures. We are raising our free cash flow forecast to well over 300 million euros," explains Dr. Lars Brzoska, Chairman of the Board of Management of Jungheinrich AG.

In the nine-month period, the measures introduced to safeguard earnings had an effect, but were unable to fully offset the cost increases resulting from collective bargaining effects and the increase in staffing levels, which largely took place in the previous year. Accordingly, earnings before interest and taxes (EBIT) in the reporting period did not reach the previous year's figure of EUR 338.8 million and amounted to EUR 320.2 million as expected. At 8.2%, the EBIT margin was slightly below the previous year's figure of 8.4%. The financial result amounted to -18.6 million euros (previous year: -24.1 million euros) and was mainly influenced by a better interest result. At 301.6 million euros, earnings before taxes (EBT) fell by 4.1% compared to the previous year's figure of 314.6 million euros. The EBT margin reached 7.7 percent (previous year: 7.8 percent). Earnings after tax amounted to 214.1 million euros (previous year: 231.3 million euros).

As at September 30, 2024, the Jungheinrich Group had net debt of EUR 72 million (December 31, 2023: EUR 262 million). The reduction of EUR 190 million compared to the end of 2023 was primarily due to the strong free cash flow of EUR 314 million in the first nine months of 2024, whereas the negative free cash flow of the prior-year period (EUR -98 million) was impacted by the purchase price payment for Storage Solutions of EUR 307 million

Group forecast

In light of the current business trend, Jungheinrich reaffirms its forecast published on March 28, 2024 and confirmed in the interim report as of June 30, 2024 and specifies its expectations for incoming orders and net sales. The Group is raising its free cash flow forecast. Jungheinrich continues to expect incoming orders in a corridor of EUR 5.2 to 5.8 billion (2023: EUR 5.2 billion). For Group sales, the company continues to expect a range between 5.3 and 5.9 billion euros (2023: 5.5 billion euros). Looking ahead to the rest of the year, the Jungheinrich Board of Management does not rule out the possibility that both key figures could be in the lower half of the ranges.

Jungheinrich continues to expect EBIT of between 420 and 470 million euros in the current financial year (2023: 430 million euros). To this end, the Board of Management has taken appropriate measures to safeguard earnings, which are taking effect in the current year and counteracting rising personnel costs in particular. In addition, the acquisitions made in 2023 include negative effects from purchase price allocations of 13 million euros and from variable remuneration of around 5 million euros (previously: 11 million euros). Jungheinrich continues to expect an EBIT margin of 7.6 per cent to 8.4 per cent (2023: 7.8 per cent).