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 EUR3.80 billion and EUR4.05 billion (previous forecast: EUR4.05 billion to EUR4.20 billion). Group revenue is expected to remain within the previous forecast range of EUR3.85 billion to EUR4.05 billion.

According to current estimates, EBIT should be between EUR240 million and EUR260 million in 2019 (previous forecast: EUR275 million to EUR295 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 EUR215 million and EUR235 million (previous forecast: EUR250 million to EUR270 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
[email protected]
www.jungheinrich.com

Analyst/investor enquiries to:
Andrea Bleesen - Head of Investor Relations
+49 40 6948-3407
[email protected]
www.jungheinrich.com