Jungheinrich (JUN3) Q1 2026 earnings summary

Executive summary

• Incoming orders rose 10.8% year-over-year to €1,535 million, but revenue declined 2.5% to €1,272 million due to segmental differences and capacity utilization issues.

• EBIT dropped sharply to €56.5 million, impacted by €26.7 million in negative one-off effects, including the €20.5 million loss from the Russian subsidiary sale, a €4.8 million strike at the Lüneburg plant, and €1.4 million in transformation program costs.

• Adjusted EBIT excluding one-off effects was €83.2 million, with an EBIT ROS of 6.5%.

• Net profit dropped 62% year-over-year to €26.2 million; earnings per preferred share fell to €0.27.

• The 2026 forecast remains unchanged despite the challenging start.

Financial highlights

• EBIT margin (ROS) was 4.4% (down from 8.0%); adjusted EBIT margin was 6.5%.

• EBT was €46.2 million, down 52.4% year-over-year; EBT margin was 3.6%.

• Free cash flow was €0 million, down from €16 million in the prior year.

• Net credit improved to €172 million from €160 million at year-end 2025.

• Group tax rate increased to 43% due to non-tax-deductible losses from the Russian subsidiary sale.

Outlook and guidance

• 2026 group forecast unchanged: incoming orders €5.4–6.0 billion, revenue €5.2–5.8 billion, EBIT €380–450 million, EBIT ROS 7.2–8.0%.

• Free cash flow expected to exceed €250 million.

• Segment forecasts: ITS EBIT €360–420 million, AWE EBIT €0–15 million.