2023-11-10 07:10:03
HAMBURG (dpa-AFX) – As expected, business at forklift manufacturer Jungheinrich slowed down in the third quarter following a strong first half. Certainly, from July to September, new orders increased by almost five percent compared to the same period of the previous year to reach 1.2 billion and the turnover even improved by 14 percent to reach almost 1.4 billion euros. In the first six months, however, the growth rates were still significantly higher.
Earnings before interest and taxes (Ebit) even fell by one percent to 103 million euros in the third quarter due to higher costs, whereas it had increased significantly in the first half. This was announced by the MDax-listed company on Friday in Hamburg. The results were in line with analysts’ forecasts. Management confirmed its annual forecast, according to which an operating margin of 7.8 to 8.6 percent is expected to be achieved in 2023.
Since it was already 8.9 percent following the first half of the year, analysts already expected that profitability would have fallen slightly in the third quarter. After nine months, it was now 8.4 percent. Jungheinrich tried to offset the high personnel and material costs with higher sales prices for its forklifts. Analysts, however, assumed that the Hamburg company had to grant some price reductions due to the gloomy economic situation and the resulting weakening of demand./lew/zb
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