Press Release: Revenue and EBIT in the 2023 financial year

• Incoming orders: 5,238 million euros (+9.3 per cent) 
• Revenue: 5,546 million euros (+16.4 per cent) 
• EBIT: 430 million euros (+11.4 per cent)
• EBIT ROS: 7.8 per cent
• Dividend proposal: 0.75 euros per preferred share

Under challenging macroeconomic conditions, Jungheinrich AG achieved historic highs in terms of incoming orders, revenue and EBIT in the 2023 financial year. The Board of Management proposes a dividend payout of 0.73 euros per ordinary share and 0.75 euros per preferred share – the highest dividend in the company’s history.  

Hamburg – Jungheinrich experienced significant growth in the 2023 financial year. Although the global economy showed significantly lower growth than in the previous year, incoming orders for the business fields of new business, short-term rental and used equipment, as well as after-sales services, were 9.3 per cent higher by value than the previous year’s level at 5,238 million euros (previous year: 4,791 million euros).  Group revenue exceeded the previous year’s figure (4,763 million euros) by 16.4 per cent or 783 million euros and amounted to 5,546 million euros. In addition to the positive growth in new trucks, the 219 million euros in revenue from Storage Solutions that was accounted for under new business also contributed to this performance. The share of revenue generated from outside Europe rose from 16 per cent in the previous year to 20 per cent in the reporting year as a result of acquisitions. At 430 million euros, EBIT exceeded the previous year’s level (386 million euros) by 44 million euros, or 11.4 per cent. At 7.8 per cent, EBIT ROS was less than the previous year’s level (8.1 per cent). At 399 million euros, EBT exceeded the previous year’s figure (347 million euros) by 52 million euros. EBT return on sales amounted to 7.2 per cent (previous year: 7.3 per cent). ROCE fell to 15.9 per cent (previous year: 16.3 per cent). Free cash flow came to +15 million euros and was significantly better than in the previous year (–239 million euros). The positive free cash flow figure takes into account the outflow of 326 million euros for the acquisition of Storage Solutions and Magazino.

“Under challenging macroeconomic conditions, Jungheinrich achieved historic highs in terms of incoming orders, revenue and EBIT in the 2023 financial year,” says Dr Lars Brzoska, Chairman of the Board of Management of Jungheinrich AG. “For the first time, Jungheinrich generated incoming orders and revenue of over 5 billion euros, and EBIT of over 400 million euros. This is a huge success for the entire Jungheinrich team, which now comprises over 21,000 employees worldwide. Thanks to the acquisition of the Storage Solutions Group, we were able to significantly expand our presence in North America in 2023 and reported revenue of over 1 billion euros outside of Europe for the first time,” says Dr Brzoska. 

Record dividend

Given this excellent result, the Board of Management of Jungheinrich will propose an increased dividend payout of 0.73 euros per ordinary share and 0.75 euros per preferred share to the Annual General Meeting on 15 May 2024. This will make it the highest dividend payout in the history of Jungheinrich AG. The dividend proposal will result in a total payout of 75 million euros, which represents a distribution rate of 25 per cent and shows that Jungheinrich AG remains true to its policy of continuous dividend payments.

2024 forecast

Jungheinrich AG forecasts incoming orders worth between 5.2 billion euros and 5.8 billion euros for the 2024 financial year. The company has also set a target range of 5.3 billion euros to 5.9 billion euros for Group revenue. EBIT should amount to between 420 million euros and 470 million euros. The Group expects EBIT ROS to be between 7.6 per cent and 8.4 per cent. The forecast is 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. 

You can find the full 2023 Annual Report https://annualreport2023.jungheinrich.com/