EANS-Adhoc: Jungheinrich proves successful in 2008 in a difficult market environment/Net sales achieve new record/Significant market and business contraction expected for 2009
ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.
annual report/Fiscal 2008/Outlook for 2009
08.04.2009
HamburgJungheinrich AG (ISIN DE0006219934) maintained its course for growth in the 2008 financial year although the world economy began cooling considerably in the fourth quarter. Incoming orders, including all divisions, climbed by 1 per cent to 2,145 million euros (prior year: 2,120 million euros). Group net sales for 2008 amounted to 2,145 million euros7 per cent up on the year-earlier level (2,001 million euros). Last year, earnings before interest and taxes (EBIT) declined by 13 per cent to 121.8 million euros (prior year: 139.5 million euros). The EBIT return on sales totalled 5.7 per cent (prior year: 7.0 per cent).
The Board of Management and the Supervisory Board will propose to the Annual General Meeting on June 9, 2009 that a marginally lower dividend of 0.49 euros per ordinary share (prior year: 0.52 euros) and of 0.55 euros per preferred share (prior year: 0.58 euros) be paid.
After the global market for material handling equipment expanded in the first three quarters of 2008, it declined by about 40 per cent in the fourth quartera trend that continued in the first two months of this year. The market was cut in half compared to the very large volume it had in the preceding year. Jungheinrich was unable to decouple itself from this development, but succeeded in strengthening its position on the market. In the first two months of 2009, the value of incoming orders was down some 31 per cent to 254 million euros compared with the year-earlier level (368 million euros). By the end of February, net sales amounted to an accumulated 249 million euros, which was 19 per cent less than the 306 million euros recorded by the same time in 2008.
Jungheinrich is braced for a significant reduction in market and business volume in 2009. At present, demand is not anticipated to be revitalized before the second half of 2010. The company expects incoming orders and net sales to be in the order of 1.7 billion euros. Jungheinrich reacted to the worldwide economic crisis early on, establishing extensive packages of measures to adapt cost structures to the decline in demand. They include incisive structural projects. Redundancies in certain Group units especially hard hit by the crisis will be unavoidable.
The extent of the expected earnings decrease in 2009 will depend on the global economic trend in the next few months as well as the scope of structural measures to be taken and the ensuing one-off costs. The company currently anticipates at least being able to avoid posting negative earnings for the fiscal year.
end of announcement euro adhoc
Further inquiry note:
Markus Piazza
Head of Corporate Communications
Tel. +49 (0)40 6948 1550
E-Mail: Markus.Piazza@jungheinrich.de
Branche: Machine Manufacturing
ISIN: DE0006219934
WKN: 621993
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