Jungheinrich Full-Year Report 2023
Jungheinrich AG prepared the consolidated financial statements for the financial year ending on 31 December 2023 in compliance with the International Financial Reporting Standards (IFRS). All standards and interpretations of the IFRS Interpretations Committee endorsed by the EU and effective as at the balance sheet date were applied. Regulations under commercial law pursuant to Section 315e of the German Commercial Code (HGB) were complementarily taken into account.
Starting from a closing price of €26.58 on the last trading day of 2022, the Jungheinrich share began the year under review at €27.04. The Board of Management published an ad hoc announcement on 25 January 2023 regarding the acquisition of the Storage Solutions Group. Following the announcement, the share reached an annual high of €36.76 on 2 February 2023.
Highlights
- Despite an increase in personnel (including through acquisitions), tariff effects, a rise in the cost of materials and a slight decrease in number of units produced in comparison with the previous year, we were able to generate EBIT of €430 million thanks to appropriate measures and thus achieve a figure in the middle of the forecast range of €400 million to €450 million.
- EBIT and negative effects from transaction-related expenses, effects from the purchase price allocation and variable remuneration elements for the management of the Storage Solutions Group.
- EBIT ROS came to 7.8 per cent and was thus at the lower end of the range of between 7.8 per cent and 8.6 per cent.
- At €399 million, EBT was in the middle of the expected range of €370 million to €420 million. EBIT ROS came to 7.2 per cent and was thus at the lower end of the forecast range of between 7.2 per cent and 8.0 per cent.
- ROCE of 15.9 per cent was in the lower half of the forecast range of 15.0 per cent to 18.0 per cent. This was due to the increase in average capital employed in the reporting year as a result of the goodwill recognized for Storage Solutions and Magazino in the amount of €302 million.
