Financial figures
Stable first quarter for Jungheinrich
Jungheinrich AG recorded a stable business trend in the first quarter of 2024: incoming orders, which comprise the new truck business, short-term hire and used equipment as well as after-sales services, amounted to EUR 1,363 million in the reporting period, slightly up on the previous year (EUR 1,350 million). Group sales amounted to 1,274 million euros (previous year: 1,291 million euros). The decline in sales in new business was almost offset by growth in customer service and a positive trend in the financial services business.
According to the company, the measures initiated in the previous year to safeguard earnings had an impact in the first quarter of 2024. However, these were not able to fully offset the cost increases resulting from tariff effects and the increase in personnel that largely took place in the previous year. Accordingly, earnings before interest and taxes (EBIT) in the quarter under review fell short of the previous year's very good figure (120.1 million euros) and amounted to 101.5 million euros, as expected. The EBIT margin reached 8.0% (previous year: 9.3%). At EUR 95.6 million, earnings before taxes (EBT) in the first quarter of 2024 were also below the previous year's figure (EUR 119.5 million), as expected. The EBT margin amounted to 7.5% (previous year: 9.3%).
Earnings after taxes amounted to 67.9 million euros (previous year: 88.4 million euros). Accordingly, earnings per preferred share amounted to 0.68 euros (prior year: 0.88 euros). Jungheinrich recorded a very good development in free cash flow. At the end of the quarter, it amounted to 159 million euros (prior year: -232 million euros).
Dr. Lars Brzoska, CEO of Jungheinrich AG, explains: "The first three months of the 2024 financial year have developed as we had expected. Incoming orders and net sales are largely stable at the level of the previous year's historic highs. Our measures to safeguard earnings are taking effect. We are seeing a strong development in free cash flow. We are maintaining our forecast for the 2024 financial year."
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