Interim statement as of 30 September 2023
Conference call
Dr Lars Brzoska (Chairman of the Board of Management)
Dr Volker Hues (Member of the Board of Management, Finance) Hamburg, 10 November 2023
1
Q1-Q3 2023 At a glance
Significant economic slump, geopolitical risks high
Noticeable decline in orders, incoming orders still up against previous year at €3,873 million
Revenue exceeds €4 billion mark with an increase of 18 per cent
EBIT at €339 million with EBIT ROS of 8.4 per cent
Negative free cash flow, positive operating free cash flow when acquisitions not taken into account
Post-merger integration of Storage Solutions proceeding as planned
All remaining shares in robotics specialist Magazino acquired
Forecast for 2023 unchanged
2
Despite noticeable decline in orders, incoming orders higher than in previous year
Incoming orders
in € million
+5%
1,133 | 1,189 | |||
Q3 2022 | Q3 2023 |
+8% | |
3,594 | 3,873 |
Q1-Q3 2022 | Q1-Q3 2023 |
Incoming orders of €127 million from the Storage Solutions Group included from 15 March 2023
3
New business including Storage Solutions driving revenue
Revenue
in € million
+14%
1,195 | 1,362 |
Q3 2022 | Q3 2023 |
+18% | |
4,020 | |
3,397 | |
Q1-Q3 2022 | Q1-Q3 2023 |
Storage Solutions contribution to revenue €67 million | Main driver: new business including |
Storage Solutions (€136 million) | |
4
Slight slowdown in earnings in third quarter, cumulatively significantly higher than in previous year
EBIT
in € million
-1% | |||||||
104.0 | 103.0 | ||||||
EBIT ROS | |||||||
8.7% | 7.6% | ||||||
Q3 2022 | Q3 2023 |
+27% | |
338.8 | |
265.9 | |
EBIT ROS | |
7.8% | 8.4% |
Q1-Q3 2022 | Q1-Q3 2023 |
Storage Solutions contribution to operating result: €9 million
Contribution to earnings offset by negative effects from purchase price allocation (€5 million) and variable remuneration elements (€4 million)
Storage Solutions contribution to operating result: €21 million
Overall, EBIT affected by acquisition in the amount of €7 million
due to transaction-related costs (€8 million), effects of purchase price | |
allocation (€10 million) and variable remuneration components | |
(€10 million) | 5 |
Number of employees continues to increase due to strategy implementation
Employees in the Group | |||
in FTE1 | +1,262 | ||
+6% | |||
19,583 | 20,845 | ||
8,135 | 8,620 | ||
11,448 | 12,225 |
30/09/2022 | Abroad | Germany | 30/09/2023 | ||
Addition primarily due to increased sales staff and Storage Solutions Group (179 employees), Magazino (123 employees), Chomutov
(69 employees) and expansion of nearshoring organisation (161 employees)
1 Full-time equivalents (FTE), including trainees and apprentices, excluding temporary workers.
6
2023 forecast unchanged
Actual | Forecast | Forecast | |
2022 | March 20231 | April 20232 | |
Incoming orders in € billion | 4.8 | 4.8 to 5.2 | 5.0 to 5.4 |
Revenue in € billion | 4.8 | 4.9 to 5.3 | 5.1 to 5.5 |
EBIT in € million | 386 | 350 to 400 | 400 to 450 |
EBIT ROS in % | 8.1 | 7.3 to 8.1 | 7.8 to 8.6 |
EBT in € million | 347 | 325 to 375 | 370 to 420 |
EBT ROS in % | 7.3 | 6.6 to 7.4 | 7.2 to 8.0 |
ROCE in % | 16.3 | 13.0 to 16.0 | 15.0 to 18.0 |
Free cash flow in € million | -239 | significantly better, but still negative |
- 2022 Annual Report
- Ad hoc announcement on 24 April 2023 and interim statement as of 31 March 2023
Effects from the
acquisition of Storage Solutions
Incoming orders: €0.3 billion
Revenue: €0.2 billion
EBIT €25 million to €30 million
Negative EBIT effects:
- One-offtransaction-related costs (€8 million)
- Purchase price allocation (€13 million)
- Variable, performance-related remuneration (€15 million)
Free cash flow affected by €307 million purchase price payment, positive free cash flow when acquisitions excluded
7
Status
8
Strategic fields of action
Automation
Digitalisation
Energy systems
Efficiency
Global footprint
Sustainability
Central targets for 2025
Revenue of €5.5 billion with CAGR of 7%
EBIT ROS between 8-10%
EBIT per employee ~€23,000
ROCE between 21-25%
Free cash flow >€100 million
Revenue outside Europe of 20%
Lithium-ion equipment ratio of 70%
Female managers 20%
Net-zero greenhouse gas emissions by 2030 | Scope 1 & 2
9
Automation
Material product innovations for rapidly growing markets
First PowerCube orders secured
Market launch: new mobile robot solution of the future with EAE 212a
x
Complete takeover of all shares and initial consolidation in Q3 2023
With more than 120 employees, one of the largest mobile robot developer teams in Europe
Technology platform for the operation of logistics robots even in a mixed human-machine environment
10
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Jungheinrich AG published this content on 10 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 November 2023 06:31:56 UTC.