Jungheinrich generated revenue of more than EUR 4 billion in the 2019 fiscal year, a press release said Wednesday (March 18, 2020). The company achieved its strategic growth target for 2020 a year earlier than planned. Incoming orders amounted to EUR 3.92 billion while EBIT came to EUR 263 million. EBIT return on sales amounted to 6.4 per cent. Demand for electric trucks remained high. At over 97 per cent of all trucks sold last year, Jungheinrich recorded the highest ratio of electric truck sales in the sector. Although Jungheinrich expects the coronavirus pandemic to have major global economic consequences this year, the full extent remains unclear.
Demand for electric trucks high
Cash flow from operating activities increased clearly to EUR 345 million. The EBIT margin came to 6.4 per cent and demand for electric vehicles remained high. At over 97 per cent of all trucks sold last year, Jungheinrich recorded the highest ratio of electric truck sales in the sector. Demand on the market for material handling equipment fitted with lithium-ion technology was especially strong. Last year, the company sold more than 20,000 lithium-ion batteries through new truck business and retrofitting.
Impact of coronavirus
To deal with the repercussions of the coronavirus pandemic, Jungheinrich has established a crisis team headed by the Board of Management that makes daily decisions based on the current situation. A number of preventive measures have been put into place to protect the workforce. Production at all plants is ongoing and after-sales service technicians are deployed all over the globe. So far, the company has been able to prevent a negative impact on Jungheinrich’s supply chain and production processes, and the ability to deliver is currently stable.
Dr. Lars Brzoska, Chairman of the Board of Management of Jungheinrich AG, said: “We are all facing a great challenge, both professionally and in our private lives. I would like to extend my personal gratitude to all employees, who dedicate themselves fully to their work and take responsibility every day, particularly in the current situation. We are all taking the situation seriously and the necessary measures were put in place early on. I am certain that Jungheinrich will take this unusual situation in its stride. We will continue to rely on our integrated business model and will consistently invest in important future technologies. Possible influences from effects that could be traced back to the spreading of the new coronavirus have not been taken into account in the aforementioned forecast values.” Jungheinrich expects incoming orders to range between EUR 3.50 billion and EUR 3.80 billion and revenue to come to between EUR 3.60 billion and EUR 3.80 billion in 2020. EBIT should come to between EUR 150 million and EUR 200 million with a corresponding EBIT return on sales figure of between 4.0 and 5.5 per cent.
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