Jungheinrich raises yearly forecast after second quarter results
Published: 24 August, 2015
The Jungheinrich Group has announced an increase of 13% in net sales in the second quarter of 2015, while orders grew by 9%.
The Group’s earnings before interest and taxes (EBIT) and net income were both 21% higher than in the corresponding period last year.
The Group’s EBIT and net income rose by 14 and 15 per cent in the first and second quarters of 2015 respectively.
In light of the figures Hans-Georg Frey, chairman of the board of management of Jungheinrich AG, has announced that the Group has revised upwards its income forecast for the year.
“Based on the economic prognoses, which are positive overall, and in light of our persistently good order books, we are raising our forecast for 2015,” said Mr Frey.
“Incoming orders are now expected to total between €2.7 billion and €2.8 billion. Consolidated net sales should amount to between €2.65 billion and €2.75 billion. Our assessment is that EBIT will amount to between €195 billion and €205 million. We anticipate that income before tax will be between €180 billion and €190 million."
In the first half of 2015, global demand for material handling equipment advanced by 3% to 574,100 trucks.
Europe, Jungheinrich’s main sales territory, recorded 9% growth. Demand in Western Europe climbed by 13%, whereas market volume in Eastern Europe declined by 14% – largely due to the shrinking Russian market. Excluding Russia, the Eastern European market posted 8% growth.
Asia’s market contracted by 3% primarily due to the drop in demand for IC engine-powered counterbalanced trucks in China. Excluding China, the Asian market grew 8%. Demand in North America increased by 11%.
To keep pace with its revised growth targets, Jungheinrich’s workforce is expanding. On 30 June, 2015, a total of 12,978 people were on the Group’s payroll – an increase of over 400 people in six months.