Jungheinrich sets new records for revenue and EBIT in the 2022 financial year

• Revenue: €4,763 million (+12 per cent)
• EBIT: €386 million (+7 per cent)
• EBIT ROS: 8.1 per cent
• Value of incoming orders: €4,791 million
• Proposed dividend: €0.68 per preferred share

Hamburg, 31 March 2023 – For Jungheinrich AG, the 2022 financial year was dominated by the Russian invasion of Ukraine, which resulted in significantly slower growth of the global economy. In this highly challenging geopolitical and macroeconomic environment, Group revenue rose by 12 per cent to €4,763 million. The main driver of the strong increase in revenue was primarily the new truck business. In turn, this was due to higher revenue from new trucks and very strong growth in the automated systems business. EBIT rose by 7 per cent to €386 million. EBIT return on sales (EBIT ROS) reached 8.1 per cent, making EBIT and EBIT ROS even higher than the forecast range for the year. Dr Lars Brzoska, Chairman of the Board of Management of Jungheinrich AG, commented: “Jungheinrich performed very well in the 2022 financial year. Despite the tense market situation, we set new records for revenue and EBIT. In doing so, we proved once again that we are extremely resilient.”

Orders on hand remain at a high level

The disruptions in the global supply chains that first developed at the beginning of the coronavirus pandemic were further exacerbated in 2022 by the Russia-Ukraine war. Nevertheless, Jungheinrich AG remained able to produce and deliver its products throughout the year thanks to effective supplier management. At the same time, the company performed well on the market despite massive increases in costs. Jungheinrich AG’s incoming orders by value amounted to €4,791 million in the 2022 financial year, almost on a par with the figure for the previous year. Orders on hand in the new truck business amounted to €1,595 million as of 31 December 2022. The figures for incoming orders and orders on hand have been adjusted to remove orders from Russia. This is because Jungheinrich AG stopped all deliveries of new and used vehicles and spare parts to Russia and Belarus from March 2022 onwards.

Record dividend maintained

Given this extremely robust result, the Board of Management of Jungheinrich AG will propose a dividend payout of €0.66 per ordinary share and €0.68 per preferred share to the Annual General Meeting on 11 May 2023. This dividend proposal will result in a total payout of €68 million, unchanged from the previous year. This represents a distribution rate of 25 per cent and shows that Jungheinrich remains true to its policy of continuous dividend payments.

2023 forecast

Jungheinrich AG forecasts incoming orders worth between €4.8 billion and €5.2 billion for the 2023 financial year. The company has also set a target range of €4.9 billion to €5.3 billion for Group revenue in 2023. EBIT should amount to between €350 million and €400 million. The Group expects EBIT ROS to be between 7.3 per cent and 8.1 per cent. This forecast also takes the acquisition of US-based Storage Solutions Group into account, which was completed on 15 March 2023 and will provide Jungheinrich AG with a strong platform for growth in the US racking system and warehouse automation sectors in the future. Furthermore, the forecast is additionally based on the assumption that there will not be any macroeconomic shocks as a result of geopolitical crises or problems on financial markets over the further course of the year. In light of this, the forecast assumes that the supply chains required in order to maintain production will remain largely intact during 2023 and that there will be no widespread production standstills.

You can find the full 2022 annual report here.