Jost Werke Se · XETR:JST
Jost Werke — Q2 2025 Earnings Presentation
27 slides from Jost Werke's earnings presentation, Aug 14, 2025
Slide 1: Earnings Conference H1 2025 / Q2 2025
EARNINGS CONFERENCE H1 2025 / Q2 2025 Joachim Dürr (CEO) & Oliver Gantzert (CFO) August 14, 2025
Slide 2: Disclaimer
DISCLAIMER THIS PRESENTATION IS CONFIDENTIAL AND MUST NOT BE RELEASED, PUBLISHED, TRANSMITTED OR DISTRIBUTED, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, INTO OR WITHIN THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN OR ANY JURISDICTION WHERE SUCH DISTRIBUTION IS UNLAWFUL. This presentation
Slide 3: H1/Q2 2025 Highlights
JOST continues growth plan driven by M&A and local market share gains, despite contracting global markets. Hyva PMI fully on track. First synergies implemented. Exit of non-core cranes business prepared in Q2. SPA signed on Aug 11, 2025. Market share gains in Agriculture in APAC and South America as
Slide 4: Financial Highlights
JOST SHOWS RESILIENCE AMID MARKET UNCERTAINTIES DRIVEN BY THE DIVERSIFICATION Sales in Q2 2025 up +31% to €391m supported by Hyva M&A effects (excl. cranes). Organic sales slightly down by -3% vs. Q2 2024. Adj. EBIT grew by +10% to €37m and adj. EBIT margin reached 9.5%, supported by a good operatin
Slide 5: Industry Market Development Q2 2025 vs. Q2 2024
INDUSTRY MARKET DEVELOPMENT Q2 2025 VS. Q2 2024 EMEA AMERICAS APAC TRUCK 0–5% (25) – (20) % 0–5% TRAILER 0–5% (20) – (15) % (10) – (5) % TRACTOR (10) – (5) % (10) – (5) % 0–5% HYDRAULICS (5) – 0 % (10) – (5) % (5) – 0 % Note: Market estimates based on LMC, Clear Consulting, ACT, OEM announcements, J
Slide 6: Strong Resilience Through Wide Range of End Markets, Products and Customers
STRONG RESILIENCE THROUGH WIDE RANGE OF END MARKETS, PRODUCTS AND CUSTOMERS SALES (CONT. OPERATIONS) BY DESTINATION H1 2025 SALES (CONT. OPERATIONS) BY APPLICATION H1 2025 (in % of sales) (in % of sales) 25% 28% 48% 54% 18% 27% EMEA AMERICAS APAC Transport Agriculture Hydraulics JOST Werke SE I Earn
Slide 7: Bio Ls
bi o Ls |
Slide 8: EMEA – Growth Driven by M&A and Slight Uptick in Market Demand
EMEA1 – GROWTH DRIVEN BY M&A AND SLIGHT UPTICK IN MARKET DEMAND IN Q2 2025 EMEA + Positive M&A sales contribution from Hyva of €25m resulted in strong Reported 17.9% 20.9% Growth sales increase of +21% in Q2 2025 (excl. discontinued operations) 376 + Market demand in Transport and Agriculture stabil
Slide 9: Americas – Solid Profitability Showcasing Business Resilience
AMERICAS1 – SOLID PROFITABILITY SHOWCASING BUSINESS RESILIENCE Americas Reported 7.9% 7.5% Growth + M&A contribution of €24m from Hyva consolidation supported reported Organic -13.3% -11.1% sales growth by +8% in Q2 2025 Sales (€m) 202 - Organic sales down -11% burdened by ongoing weak demand for tr
Slide 10: APAC – Growth Boosted by Strong Hyva Position in Asia
APAC1 – GROWTH BOOSTED BY STRONG HYVA POSITION IN ASIA AND SLIGHT MARKET SHARE GAINS IN AGRICULTURE APAC Reported 105.5% 113.3% + Strong M&A contribution of €60m from Hyva, more than doubling Growth sales in Q2 2025 vs. prior year Organic -9.9% 187 -10.2% + Growth of agricultural business in APAC co
Slide 11: Group – Consolidation of Hyva Drives Sales and Earnings
GROUP1 – CONSOLIDATION OF HYVA DRIVES SALES AND EARNINGS group Reported 28.1% 31.0% + Positive M&A contribution in hydraulics of €109m in Q2 2025 Growth (excl. 5 months disc. operations of cranes business, Feb-June 2025) Organic -6.5% -3.2% - Global demand still below prior year, but stabilizing in
Slide 12: Sales Development Incl. Discontinued Operations from Cranes Business
SALES DEVELOPMENT INCL. DISCONTINUED OPERATIONS FROM CRANES BUSINESS EMEA AMERICAS APAC group 38 802 764 29 405 376 Sales (m€) 5 4 202 207 187 191 Continuing Discontinued EMEA total Continuing Discontinued AMERICAS total Continuing Discontinued APAC total Continuing Discontinued Group total H1 2025
Slide 13: Adjusted Net Income and Adjusted EPS
ADJUSTED NET INCOME AND ADJUSTED EPS income Reported net income declined to €20m (H1 2024: €34m). 6 73 Reported EPS declined to €1.33 (H1 2024: €2.31) 27 − PPA D&A adjustment grew to €-27m (H1 2024: -12 €-12m) due to Hyva PPA, inventory step-ups and addition of regular depreciation of trademarks -15
Slide 14: Preliminary Hyva PPA - Impact on Balance Sheet
PRELIMINARY HYVA PPA - IMPACT ON BALANCE SHEET Acquired assets & liabilities after preliminary PPA (31st January 2025) – [in m€] Comments 682 682 • Goodwill amount is ~ €76m (at acquisition date), reflecting latest valuation results out of Goodwill 76 the almost finalized PPA (Purchase Price PPA of
Slide 15: Preliminary Hyva PPA - Impact on P&L and Exceptionals in H1
PRELIMINARY HYVA PPA - IMPACT ON P&L AND EXCEPTIONALS IN H1 P&L impacts from PPA and Exceptionals in H1 2025 – [in €m] Comments Profit & Loss H1-2025 Exist. PPA JOST Exceptionals Inventory step-up "PPA" 2025 New PPA Hyva • #1: D&A from new Hyva PPA amounted to H1 2025 H1 2024 €-7.5m in H1 2025. This
Slide 16: Cash Flow and Working Capital Development
CASH FLOW AND WORKING CAPITAL DEVELOPMENT CASH FLOW - Operative cash flow went down compared to prior year, due to Working Free cash flow1 Cash conversion 1.3 1.1 rate2 Capital increase, especially in Q2 2025 as activity levels in EMEA recover (€m) 60.6 and safety stock levels rise due to tariffs un
Slide 17: ROCE, Equity Ratio and Leverage Development
ROCE, EQUITY RATIO AND LEVERAGE DEVELOPMENT -4.1pp BALANCE SHEET - Increase in financial liabilities needed to finance acquisition of Hyva 17.1% ROCE1 13.0% resulted in an expected decline in ROCE, compared to year-end (%) + Positive adj. EBIT contribution from Hyva partially offset organic revenue-
Slide 18: Outlook
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Slide 19: Market Development Expectations for 2025 (Industry Volume)
MARKET DEVELOPMENT EXPECTATIONS FOR 2025 (INDUSTRY VOLUME) EMEA AMERICAS APAC 0–5% (25) – (30) % 5 – 10 % TRUCK Demand stable on prior’s year Market uncertainty worsens, Chinese truck OEMs grow with level with slight positive driven by persistent tariff exports to Global South. Truck momentum expect
Slide 20: Outlook FY 2025
OUTLOOK FY 2025 CONFIRMED Sales Up by 40% to 50% vs. prior year (cont. operations) (2024: €1,069m) Adj. EBIT Up by 23% to 28% vs. prior year (cont. operations) (2024: €113m) Adj. EBITDA Up by 23% to 28% vs. prior year (cont. operations) (2024: €148m) 2025 Capex Approx. 2.9% of sales (in % of sales)
Slide 21: Executive Summary
EXECUTIVE SUMMARY Solid Q2 2025 results amid market uncertainties, proving success of JOST’s resilient business model. Hyva PMI integration well on track, with clear focus on core business to generate profitable growth. Disposal of cranes business successfully prepared. SPA signed on August 11, 2025
Slide 22: Questions / Appendix
Questions Appendix
Slide 23: Historical Seasonality
HISTORICAL SEASONALITY DEVELOPMENT OF JOST’S SALES AND ADJUSTED EBIT BY QUARTER Sales (€m) Adj. EBIT (€m) / Adj. EBIT Margin (%) 391 374 342 330 322 327 312 304 292 286 299 298 40 273 266 37 37 257 252 35 36 246 34 33 34 231 226 32 30 30 30 30 192 197 27 27 27 175 24 20 21 9.5% 11.6% 11.6% 11.3% 11.
Slide 24: Shareholder Structure and Share Information
SHAREHOLDER STRUCTURE AND SHARE INFORMATION Shareholder structure Share information as of August 14, 2025 PMB Management 20% ISIN DE000JST4000 Trading symbol JST Allianz German Sec. Code Number (WKN) JST400 10% Global Other 55% Shares in issue 14,900,000 Investors Index SDAX 10% FMR LLC Listed since
Slide 25: Business Steering Adjusted to Be Ready for Hyva Integration and Ambition 2030 Targets
BUSINESS STEERING ADJUSTED TO BE READY FOR HYVA INTEGRATION AND AMBITION 2030 TARGETS Group Executive Board (CEO, CFO, COO) Group steering streamlined into three (new) regions: Business Line Business Line Business Line TRANSPORT AGRICULTURE HYDRAULICS AMERICAS (North and South America), EMEA (Europe
Slide 26: Upcoming Investor Events / Investor Relations Contact
UPCOMING INVESTOR EVENTS Aug 14, 2025 Publication of Q2 2025 Interim Report Sept 4, 2025 ODDO BHF Sector Conference 2025, Frankfurt/Germany Sept 23, 2025 Baader Investment Conference 2025, Munich/Germany Sept 24, 2025 Berenberg 14th Germany Corporate Conference, Munich/Germany Nov 13, 2025 Publicati
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