Jungheinrich (JUN3) Q4 2024(Media) earnings summary

Executive summary

• Order intake reached €5.3bn, up 1–1.4% year-over-year, driven by after-sales service growth despite weaker new equipment sales.

• Revenue declined 2.8–3% to €5.39bn, reflecting market weakness in Germany and North America.

• EBIT increased 0.9–1% to €434m, with margin improving to 8.1% due to cost controls and integration of Storage Solutions and Magazino.

• Free cash flow surged to €431m, up €416m year-over-year, driven by improved working capital management.

• Dividend proposal of €0.80 per preferred share, up 7% year-over-year.

Financial highlights

• EBIT margin improved to 8.1% from 7.8% in 2023.

• EBT rose 1–1.3% to €404m; EBT margin at 7.5%.

• Net income after tax decreased 3% to €289m; EPS (preferred) at €2.84.

• ROCE increased to 17.3% from 15.9% year-over-year.

• Free cash flow rebounded to €431m from €15m, as prior year was impacted by acquisitions.

Outlook and guidance

• 2025 guidance: order intake €5.5–6.1bn, revenue €5.4–6.0bn, EBIT €430–500m, EBIT margin 7.8–8.6%.

• EBT expected at €400–470m; EBT margin 7.3–8.1%.

• ROCE projected at 15.0–19.0%; free cash flow above €300m.

• Assumptions include stable supply chains, unchanged material costs, and no escalation in geopolitical tensions.