Jungheinrich Ag Pref · XETR:JUN3
Jungheinrich Ag Pref — Jungheinrich — FY2025 Earnings Presentation
38 slides from Jungheinrich Ag Pref's earnings presentation, Mar 27, 2026
Slide 1: Virtual analyst conference for the 2025 financial year
Virtual analyst conference for the 2025 financial year and outlook for 2026 Dr Lars Brzoska (Chairman of the Board of Management) Heike Wulff (Member of the Board of Management, Finance) Hamburg, 27 March 2026
Slide 2: Agenda
Agenda 1 2025 Highlights Dr Lars Brzoska 2 Key figures for 2025 Heike Wulff 3 Outlook for 2026 Dr Lars Brzoska 4 Additional information
Slide 3: Board of Management team
Board of Management team Dr Lars Brzoska Nadine Despineux Dr Tobias Harzer Chairman of the Board of Management, Member of the Board of Management, Member of the Board of Management, Sales Corporate Automation & Warehouse Equipment Maik Manthey Heike Wulff Member of the Board of Management, Technics
Slide 4: Business development robust in 2025, earnings impacted by one-off effects
Business development robust in 2025, earnings impacted by one-off effects Incoming orders (€5.4 billion) Strategy 2030+ successfully and revenue (€5.5 billion) launched in first year robust EBIT, adjusted for one-off Transformation effects, of €448 million programme largely (EBIT ROS 8.1%) implement
Slide 5: 2025 forecast achieved
2025 forecast achieved Actual 2025 Forecast 5 December 20251 Forecast adjusted Incoming orders in € billion 5.4 5.4 – 5.6 during 2025 Revenue in € billion 5.5 5.4 – 5.6 EBIT in € million 228 220 – 260 Sale of Russian subsidiary Transformation programme EBIT ROS in % 4.2 4.1 – 4.6 Research and
Slide 6: Important successes in our strategic fields of action
Important successes in our strategic fields of action Global Portfolio expansion Automation extension Transformation Successful integration of US Significant customer Market entry into Transformation programme acquisition Invar into projects for warehouse Mid-Tech segment launched, personnel and Sto
Slide 7: The ongoing transformation programme strengthens global competitiveness
The ongoing transformation programme strengthens global competitiveness and ensures sustainable profitability Transformation programme Response to more intense global competition and increasing cost pressure to make the company fit for the future €100 million cost savings p.a. Sustainable cost s
Slide 8: AntOn by Jungheinrich
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Slide 9: Strategic partnership positions Jungheinrich in attractive growth segment
Strategic partnership positions Jungheinrich in attractive growth segment New portfolio as entry into Mid-Tech market Global industrial trucks market1 May 2025: Jungheinrich and EP Equipment agree on strategic partnership ~ 2.2 million Pooling of both companies’ strengths to increase efficiency,
Slide 10: Key figures for 2025
2 Key figures for 2025 Heike Wulff
Slide 11: Increase in incoming orders despite challenging market environment
Increase in incoming orders despite challenging market environment Incoming orders Incoming orders in € million in thousand units +1% 5,311 5,387 +5% 126 132 2024 2025 2024 2025 Participation in market growth of warehousing equipment Positive development, particularly in customer services and in new
Slide 12: Revenue up slightly against previous year
Revenue up slightly against previous year Revenue in € million 2024 2025 Change % in € million +2% New business 3,148 3,214 2.1 5,392 5,502 Short-term rental 781 775 –0.8 and used equipment Customer services 1,535 1,576 2.7 Intralogistics 5,464 5,566 1.9 segment 2024 2025 Financial Services 1,417 1,
Slide 13: Revenue benefits from positive development in USA
Revenue benefits from positive development in USA 7% (7%) 12% (10%) in € million 2024 2025 Change % APAC Americas EMEA 4,486 4,478 –0.2 thereof Germany 1,168 1,119 –4.2 Americas 523 649 24.1 APAC 383 375 –2.1 Revenue by region Total 5,392 5,502 2.0 61% (61%) EMEA excluding 20% (22%) Germany Germany
Slide 14: EBIT shaped by one-off effects of €220 million in second half of 2025
EBIT shaped by one-off effects of €220 million in second half of 2025 18 448 93 424 -24 109 228 4.2% 8.1% 7.9% EBIT ROS EBIT ROS EBIT ROS -424 EBIT 2025 Sale of Russian Transformation Research & EBIT 2025 EBIT 2025 Operating EBIT subsidiary1 programme development excluding one-off effects1 excluding
Slide 15: Earnings parameters impacted by one-off effects
Earnings parameters impacted by one-off effects EBIT EBT in € million in € million +3% +3% 4341 4482 4041 4162 One-off 8.1% 7.6 % effects One-off (220) effects (220) 8.1% EBIT ROS 228 4.2% 7.5% EBT ROS 196 3.6% 2024 2025 2024 2025 Negative effects of €220 million resulting from sale of the Russian s
Slide 16: Discontinuation of business activities in Russia leads to significant one-off negative effects
Discontinuation of business activities in Russia leads to significant one-off negative effects Sale of Russian subsidiary Contract signed for the sale of Jungheinrich Lift Truck OOO to a Russian €129 million financial investor in July 2025 overall cost Sale was significantly below carrying amoun
Slide 17: Dividend: payment ratio of 28% maintained
Dividend: payment ratio of 28% maintained Profit or loss Earnings Payment ratio Dividend per preferred share per preferred share in € million in € in % in € –64% –64% 2.84 +–0%p 289 28 28 –64% 1.03 104 0.80 0.291 2024 2025 2024 2025 2024 2025 2024 2025 Tax rate of 47% as a result of non-deductible l
Slide 18: Focus on capacity expansion abroad, slight reduction in Germany
Focus on capacity expansion abroad, slight reduction in Germany Group employees +516 in FTE1 +3% 20,922 21,438 8,510 –91 8,419 –1% +607 13,019 12,412 +5% 31/12/2024 Abroad Germany 31/12/2025 Key drivers: expansion of Business Excellence Centers (209 employees), production expansion at plant in Czech
Slide 19: Capital expenditure at previous year's level, increase in R&D expenditure
Capital expenditure at previous year’s level, increase in R&D expenditure Capital expenditure1 Research and development expenditure in € million in € million +20% 205 171 Disposal of capitalised 18 –1% development expenditure 88 87 Research and development Capital 187 Capitalisation 1.6% expenditure
Slide 20: Strong free cash flow
Strong free cash flow Cash flow from operating activities Cash flow from investing activities Free cash flow in € million in € million in € million €–88 million €–117 578 million 490 431 314 €–30 million 2024 2025 2024 2025 -147 -177 2024 2025 Cash flow from operating activities reflects negative im
Slide 21: ROCE decreases, working capital ratio improves further
ROCE decreases, working capital ratio improves further Average capital employed Group working capital in Intralogistics segment in € million in € million –4% 2,517 2,414 –5% 436 EBIT in Intralogistics segment 201 1,009 961 17.3% ROCE1 in % 8.3% 18.7% in % of revenue 18.0 %2 31/12/2024 31/12/2025 31/
Slide 22: Strong contribution of financial service business in financial year 2025
Strong contribution of financial service business in financial year 2025 Original value of new Original value of contracts Revenue Trucks in contracts contracts on hand on hand in € million in € million in € million in thousand units +6% 4,267 4,525 +5% +4% 1,417 1,473 +1% 1,028 1,083 220 221 2024 2
Slide 23: Outlook for 2026
3 Outlook for 2026 Dr Lars Brzoska
Slide 24: Outlook for 2026: focal points of strategic fields of action
Outlook for 2026: focal points of strategic fields of action Global Portfolio expansion Automation extension Transformation Acceleration of regional Targeted market development in Market penetration with full liner Completion of transformation expansion in North America growth sectors: trade, logist
Slide 25: Heavy load meets high voltage: Jungheinrich looks to tomorrow with FalcOn
Heavy load meets high voltage: Jungheinrich looks to tomorrow with FalcOn Press release 25
Slide 26: Innovations and world premieres in 2026
Innovations and world premieres in 2026 Maximum bandwidth: our new electric counterbalanced trucks EFG 2i EFG 3i EFG 5 FalcOn Low-lift and double-decker Mobile robot Reach trucks High-lift mobile robot IF Design Awards equipment master control Series 1i ETV 4i EAC 212a EAE 212a & ETV 216i Press rele
Slide 27: We are successfully asserting ourselves in a challenging market environment
We are successfully asserting ourselves in a challenging market environment Risks Opportunities Weak European economic Innovations and environment disruptive technologies Geopolitical conflicts Global expansion in particular trade tariffs, opportunities GDP1 in % 2025 2026 forecast Iran war and Russ
Slide 28: New segment structure improves control and transparency
New segment structure improves control and transparency Separate segments as a basis for From financial year 2026: growth and profitability Intralogistics becomes ITS and AWE Own P&L and management Industrial Trucks & Services Automation & Warehouse organisation strengthen (ITS) Equipment (AWE) acco
Slide 29: 2026 Group forecast: growth in incoming orders and robust return expected
2026 Group forecast: growth in incoming orders and robust return expected Actual 2025 Adjusted 20251 2026 forecast Effects included Incoming orders in € billion 5.4 5.2 5.4 – 6.0 1 Revenue in € billion 5.5 5.4 5.2 – 5.8 1 Incoming orders and revenue each adjusted by around €150 million EBIT in € mil
Slide 30: 2026 forecast: ITS and AWE
2026 forecast: ITS and AWE Industrial Trucks & Services Actual 2025 Adjusted 20251 2026 forecast 2026 forecast: ITS Incoming orders in € billion 4.5 4.4 4.4 – 4.8 Compensation for the discontinued Russia Revenue in € billion 4.6 4.5 4.3 – 4.7 business (contributions 2025: € ~150 million EBIT in € mi
Slide 31: Key takeaways
Key takeaways We are asserting our position in a demanding market environment with challenging conditions We have successfully started the implementation of Strategy 2030+ and are actively driving the transformation forwards We have successfully entered the Mid-Tech market and are proactively addres
Slide 32: Q&A
Q&A 32
Slide 33: Additional information
JUNGHEINRICH Additional information
Slide 34: Earnings parameters in fourth quarter excluding one-off effects higher than in previous year
Earnings parameters in fourth quarter excluding one-off effects higher than in previous year Q4 2024 Q4 2025 Change % Effects in Q4 2025 Incoming orders in € million 1,380 1,310 –5.1 Revenue in € million 1,469 1,494 1.7 Incoming orders: decline in new business partly offset by EBIT in € million 114
Slide 35: 2026 forecast
2026 forecast Industrial Trucks & Automation & Group Services Warehouse Equipment Actual 2026 forecast6 Actual 2026 forecast7 Actual 2026 forecast8 20251,2,3 20251,4 20255 Incoming orders in € billion 5.4 5.4 – 6.0 4.5 4.4 – 4.8 0.9 1.0 – 1.2 Revenue in € billion 5.5 5.2 – 5.8 4.6 4.3 – 4.7 0.9 0.9
Slide 36: One-off effects & acquisition effects – development by quarter in 2025 & 2026e
One-off effects & acquisition effects – development by quarter in 2025 & 2026e in € million Q1 2025 Q2 2025 Q3 2025 Q4 2025 Totals 2025 2026e Total one-off effects –163 –57 –220 –37 One-off effects ITS –141 –56 –197 –35 therein holding company –6 –6 –1 AWE –22 –1 –23 –2 Sale of Russian subsidiary –8
Slide 37: Disclaimer
Disclaimer The explanations in this presentation are uncertainties or unknown factors apply or the partially forward-looking statements that are assumptions on which these statements are based on the company management’s based prove false, actual results may deviate current expectations, assumptions
Slide 38: 2026 financial calendar and IR contact
2026 financial calendar and IR contact Financial calendar IR contact Date Event Andrea Bleesen Head of Corporate Investor Relations 27/03/2026 Balance sheet press conference (virtual) Jungheinrich Aktiengesellschaft 27/03/2026 Analyst conference (virtual) Friedrich-Ebert-Damm 129 22047 Hamburg, Germ