NEU-ISENBURG (dpa-AFX) - The commercial vehicle supplier Jost Werke has felt the effects of the weakening economy at the start of the new year. In the first quarter, turnover fell by 12.6 percent to 298.5 million euros compared to the same period last year, as the SDax-listed company announced in Neu-Isenburg on Wednesday. Adjusted earnings before interest and taxes (adjusted EBIT) fell from 39.7 to 34.6 million euros. Jost nevertheless confirmed its forecast for the year.

The adjusted operating margin remained stable at 11.6 percent at the start of the year. At the bottom line, Jost earned just under 20 million euros, 16.7 percent less than a year ago. The commercial vehicle supplier had already prepared investors for weaker business in the current year in March and continues to expect a single-digit percentage decline in sales for 2024. Adjusted operating profit is also likely to fall by a single-digit percentage - and even more sharply than sales. The margin will also decline, but should remain within the strategic corridor of 10 to 11.5 percent./niw/stk