JOST Werke (JST) Q4 2025 earnings summary

Executive summary

• Achieved strong profitable growth in 2025, driven by the successful and efficient integration of Hyva, organic gains, and resilience from diversified industry and geographic exposure, despite challenging global markets and volatility.

• Consolidated Hyva from February 2025, capturing initial synergies ahead of plan and divesting the non-core Cranes business by year-end.

• Gained market share through new customer projects, leveraging a local-for-local approach and global strength.

• Set new CO2 reduction targets, aiming for a further 50% reduction per production hour by 2035 compared to 2025.

• Robust order intake and visible recovery across all business lines and regions in Q1 2026.

Financial highlights

• Sales from continuing operations rose 44% to approximately EUR 1.5 billion in 2025, including EUR 468.0 million from Hyva, with 2% organic growth.

• Adjusted EBIT from continuing operations increased by 29% to EUR 145 million; margin reached 9.5%.

• Free cash flow grew 6% to a record EUR 126 million.

• Adjusted net income from continuing operations up 12% to EUR 84 million; adjusted EPS up 11% to EUR 5.52.

• Dividend payout increased to EUR 1.50 per share, 30% of adjusted net income.

Outlook and guidance

• 2026 guidance assumes single-digit sales growth, mid to high single-digit Adjusted EBIT growth, and margin improvement, supported by further Hyva synergies.

• CapEx expected at 2.8% of sales; working capital projected between 17.5%-18.5% of sales.

• Guidance does not factor in major long-term impacts from the Iran conflict; upside possible if U.S. tariffs ease or EPA 2027 regulations prompt pre-buying.

• Hyva PMI to conclude in 2026, with remaining synergies targeted by Q4 2026.

• Robust order intake and visible recovery across all business lines and regions in Q1 2026.