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Investing.com -- Shares of Jungheinrich AG (ETR:JUNG_p) fell over 3% on Friday after the German intralogistics company confirmed its lowered 2025 outlook despite posting second-quarter results that slightly topped analyst expectations.
The stock closed the prior day at €33.78, down from its 52-week high of €42.84, with a market capitalization of €3.4 billion.
The company reported incoming orders of €1.36 billion in the quarter, up 4% from a year earlier and in line with consensus estimates.
Orders for new trucks stood at €1.51 billion, 6% higher than year-end levels, with a book-to-bill ratio of 1.0. The company noted continued weakness in core European markets but said new business still delivered organic growth.
Revenue came in at €1.35 billion, flat from last year but 1% ahead of expectations, driven by gains in aftersales, financial services, and new business.
Regional performance was mixed, with EMEA down 0.5% and APAC down 2%, while the Americas rose 21%.
Earnings before interest and taxes totaled €106 million, exceeding consensus by 3% and yielding a 7.8% margin, about 20 basis points higher than expected.
Gross margin improved, but higher personnel costs from new collective agreements and weaker pricing weighed on profitability, with margins falling 60 basis points year over year.
Free cash flow was €57 million for the first half, down sharply from €172 million a year earlier, mainly due to higher inventories. Net debt rose to €42 million.
For 2025, Jungheinrich maintained its previously reduced guidance, projecting orders and revenue between €5.3 billion and €5.9 billion, EBIT of €160 million to €230 million, and free cash flow above €250 million.
The outlook excludes a €120 million impairment related to Russia, €90 million in restructuring costs, and an €18 million loss of capitalized automation development spending.