Declining market development
Jungheinrich lowers forecast for 2019
Jungheinrich has adjusted its forecast for 2019 due to the economic slowdown and the significant decline in the material handling equipment market.
After a good start to the current financial year, Jungheinrich has recently recorded a significant decline in its customers' investment activity. According to the company, this is due to the deteriorating macroeconomic environment and the associated current development of the material handling equipment market.
The global market contracted by a cumulative five per cent by the end of June. In Europe, Jungheinrich's core market, the market shrank by seven per cent. In June alone, the European market contracted by as much as 16 per cent. Against this backdrop and in the absence of positive economic and market signals, the Board of Management expects this trend to continue over the course of the year. This will be reflected in reduced production volumes in the second half of 2019.
The Executive Board therefore anticipates incoming orders of between EUR 3.8 billion and EUR 4.05 billion for 2019 as a whole (previous forecast: EUR 4.05 billion to EUR 4.2 billion). Group sales are still expected to be within the previously forecast range of EUR 3.85 to 4.05 billion.
According to current estimates, EBIT should be between 240 and 260 million euros in 2019 (previous forecast: 275 to 295 million euros). The EBIT margin is expected to range between 6% and 6.7% (previous forecast: 7% to 7.4%). EBT is expected to reach 215 to 235 million euros (previous forecast: 250 to 270 million euros). The EBT margin is expected to be 5.4 to 6.1 per cent (previous forecast: 6.4 to 6.8 per cent). Jungheinrich's interim report as of June 30, 2019 will be published on August 8, 2019. as
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