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Investing.com -- German forklift manufacturer Jungheinrich confirmed its previously lowered 2025 outlook on Wednesday, sending shares up 8%.
The company maintained its forecast for orders and revenues between €5.3-5.9 billion, with EBIT expected at €160-230 million, implying margins of 3.1-3.9%. Free cash flow is projected to exceed €250 million.
In its third quarter results, Jungheinrich reported incoming orders of €1,334 million, up 5% year-over-year and 5% ahead of consensus estimates of €1,270 million. Management highlighted that growth was driven by new business and aftermarket sales. Orders on hand for new trucks reached €1,483 million, remaining broadly flat compared to the previous year, with a book-to-bill ratio of approximately 1.
Revenue reached €1,352 million, increasing 4% year-over-year and exceeding analyst expectations of €1,302 million. The growth was attributed to both new business and aftermarket services. Year-to-date intralogistics growth was 3%, while financial services grew 4%.
The company posted an EBIT of -€50 million, which was 18% better than consensus estimates of -€61 million, resulting in an EBIT margin of -3.7%, about 100 basis points ahead of expectations. The quarterly results included €163 million in exceptional costs, comprising €85 million for Russia impairment, €60 million for a transformation program, and €18 million for R&D disposal.
Excluding these exceptional items, EBIT would have been €113 million, representing a 6% year-over-year increase with margins improving by approximately 25 basis points to 8.4%.
The company reported net debt of €39 million as of September, slightly higher than the previous year, while free cash flow for the first nine months stood at €150 million, down from the same period last year.
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