Jungheinrich again raises its forecast for 2021 with “strong” demand
Jungheinrich again raises its forecast for incoming orders and results for the 2021 financial year and publishes figures as of September 30, 2021
Jungheinrich is once again raising its forecast for incoming orders, EBIT, EBIT return on sales, EBT, EBT return on sales, and ROCE for the 2021 financial year. Demand continues to be strong. Through targeted management of the supply chain, production shutdowns have largely been successfully avoided until now. In addition, the material price increases which were substantial in some cases were more than offset by corresponding price adjustments and efficiency measures.
The Board of Management now expects incoming orders of between €4.6 billion and €4.8 billion for the entire 2021 year (previously: €4.2 billion to €4.5 billion). Due to continuing significant challenges in the supply chain, Group revenue is expected to fall within the previously forecast range of €4.0 billion and €4.2 billion. According to current estimates, earnings before interest and income taxes (EBIT) in 2021 will come to between €340 million and €370 million (previously: €300 million to €350 million). Accordingly, EBIT return on sales is expected to range between 8.5 percent and 8.8 percent (previously: 7.5 percent to 8.3 percent). Earnings before taxes (EBT) are expected to reach €325 million to €355 million (previously: €280 million to €330 million). EBT return on sales should come to between 8.1 percent and 8.5 percent (previously: 7.0 percent to 7.9 percent). The Board of Management assumes a ROCE value of between 20 percent and 23 percent (previously: between 17 percent and 21 percent). The ROCE new key performance indicator with effect from 30 June 2021 is expected to reach a value between 19 percent and 22 percent (previously: between 17 percent and 21 percent).
It is also expected that Jungheinrich will have an unchanged net credit of well over €300 million at the end of the 2021 financial year.
This increased forecast assumes that the material supply, which continues to be fraught, particularly in the case of electronic components, will not deteriorate significantly during the remaining weeks of the financial year. Measures to ensure Jungheinrich’s ability to deliver will continue to be implemented without limitation. At the same time, worsening bottlenecks in the supply of materials potentially leading to serious production shutdowns in the future cannot be ruled out.
Despite delivery problems with production materials and increased material costs, the Jungheinrich Group’s business development up until September 30, 2021, was very good.
After nine months, incoming orders (€3,581 million) surpassed those of the previous year (€2,732 million) by 31 percent. During the same time period, Group revenue increased to €3,020 million (previous year: €2,723 million).
In a market environment that continues to be challenging, EBIT improved significantly by 72 percent to €258.4 million (previous year: €150.2 million). EBIT return on sales increased to 8.6 percent (previous year: 5.5 percent). EBT increased to €249.6 million (previous year: €133.8 million). Accordingly, EBIT return on sales was 8.3 percent (previous year: 4.9 percent).
The interim statement of Jungheinrich AG as of September 30, 2021, will be published on November 10, 2021.
