Jungheinrich forecast for 2022 financial year below market expectations due to economic uncertainty

Despite a rise in economic uncertainty, which was once again massively heightened by the start of the Russia-Ukraine war at the end of February 2022, the Board of Management of Jungheinrich AG expects to see generally good market demand and therefore assumes that the Group will continue to grow profitably. Nonetheless, the current market expectations will not be met. The Board of Management currently expects incoming orders slightly below the level seen in the previous year (2021: €4.9 billion). Group revenue for 2022 is expected to be slightly above the previous year’s value (2021: €4.2 billion) due to ongoing bottlenecks in the supply chains. EBIT and EBT could both reach a value significantly below that of the previous year (2021: €360 million and €349 million). The rates of return for EBIT and EBT could then also be significantly lower compared with the previous year (2021: 8.5 per cent and 8.2 per cent). In terms of developments in the cost of materials, the company anticipates – starting with the current high levels – further noticeable increases over the course of 2022. Further negative effects from the war that are currently not foreseeable were not taken into consideration for the forecast. In order to continue implementing Strategy 2025+ consistently, the company is planning a clear increase in personnel capacities, especially in the strategic fields of automation, digitalisation, energy systems, efficiency, global footprint and sustainability in 2022.