Wednesday, December 07, 2022

Jungheinrich confirms his forecast for 2022

The Management Board of Jungheinrich AG has confirmed its forecast for 2022 as of 24 March 2022, which is above current market expectations. In the third quarter of the current year, Jungheinreich Group has been able to continue the strong business growth of the first half of 2022 without any pause. In addition, production downtime has been largely avoided to date through rigorous supply chain management.

Jungheinrich now expects to take orders between €4.6 billion and €4.9 billion for 2022 (before: slightly down from last year; 2021: €4.9 billion). Consolidated sales should be within a range of €4.6bn to €4.8bn (before: slightly up from last year; 2021: €4.2bn). Based on current estimates, earnings before interest and taxes (EBIT) will be between €340 million and €380 million (before: significantly lower than last year; 2021: €360 million). Consequently, the EBIT margin is expected to be in the range of 7.2 per cent to 8.0 per cent (before: significantly lower than last year; 2021: 8.5 per cent). Earnings before tax (EBT) should reach €305 million to €345 million (before: significantly lower than last year; 2021: €349 million). The EBT return should be between 6.5 percent and 7.3 percent (before: significantly lower than last year; 2021: 8.2 percent). The Board of Directors considers a ROCE of between 14.0 percent and 17.0 percent (before: significantly lower than last year; 2021: 20.2 percent). The indicator for free cash flow beginning June 30, 2022 is expected to be significantly negative compared to the previous year (2021: €89 million).

This more specific forecast is based on the assumption that there will be no significant production disruptions by the end of the year and that the supply chain will remain largely intact. Right now it cannot be ruled out that gas shortage could lead to severe restrictions on production.

Jungheinrich AG’s full quarterly report as of 30 September 2022 will be published on 11 November 2022.

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