Jungheinrich AG · XETR:JUN3

Jungheinrich — Analyst Conference 2016

45 slides from Jungheinrich's conference presentation, Mar 24, 2016

  1. Slide 1: Growing with Passion – Analyst Conference

    Growing with Passion Analyst Conference Hans-Georg Frey, Chairman of the Board of Management Dr. Volker Hues, Member of the Board of Management, Finance Frankfurt, March 24, 2016

  2. Slide 2: Content

    Content  Jungheinrich at a Glance  World Material Handling Equipment Market  Business Model  Business Development in 2015 and current Business Trend  Strategic Issues and Outlook 2

  3. Slide 3: Jungheinrich at a Glance

    Jungheinrich at a Glance

  4. Slide 4: Jungheinrich at a Glance

    Jungheinrich at a Glance  Independent, family-owned company  Leading intralogistics service & solution provider with manufacturing operations  No. 2 in Europe, No. 3 in the world  Focus on direct sales  Single-brand strategy Net sales Consolidated net sales Key figures 2015 Key figures Intralog

  5. Slide 5: Highlights 2015

    Highlights 2015 1. Fiscal 2015 was an extremely successful year at Jungheinrich All-time highs in incoming orders, net sales, EBIT and EBT—ambitious 2. full-year forecast exceeded 3. Production volume surpasses 90,000-unit mark for the first time Direct sales and service network as well as logistics

  6. Slide 6: Achievements in 2015 (1)

    Achievements in 2015 (1) Core business: European market share increased from 20.7% to 21.5% Europa Company founded through the acquisition of the dealership business in Romania Acquisition of the dealership business in Malaysia and of APAC NTP Forklifts Australia Contract for the establishment of a

  7. Slide 7: Achievements in 2015 (2)

    Achievements in 2015 (2) ICs1 European market share increased from 7% to just under 8% Mail order Mail-order net sales lifted to €57 million business Large-scale construction projects completed on time and in Other highlights line with budgets Short-term hire fleet significantly expanded once again

  8. Slide 8: Jungheinrich Group—2015 Forecast Exceeded

    Jungheinrich Group—2015 Forecast Exceeded Forecast FY 2015 Incoming Orders €2.7 bn - €2.8 bn €2,817 million  Net sales €2.65 bn - €2.75 bn €2,754 million  EBIT €190 million - €205 million €213 million  EBIT ROS >7.0% 7.7%  EBT €180 million - €190 million €198 million  EBT ROS >6.0% 7.2%  8

  9. Slide 9: Dividend

    Dividend Dividend per preferred share Payout ratio 28.6% 27.3% 26.4% 25.2% 23.5% 1.04 1.19 Proposal 0.86 0.86 0.76 2011 2012 2013 2014 2015 9

  10. Slide 10: Share price development

    Share price development €77.61 12/07/2015 All-time high €76.24 12/30/2015 Closing price €52.93 12/30/2014 Closing price Q1 2015 Q2 2015 Q3 2015 Q4 2015 All figures are indexed to Jungheinrich‘s share price. 10

  11. Slide 11: World Material Handling Equipment Market

    World Material Handling Equipment Market

  12. Slide 12: World Material Handling Equipment Market—Volume

    World Material Handling Equipment Market—Volume Incoming orders in thousand units Worldwide Europe thereof Eastern- 2015 +8% 373 europe -7.2% thereof Eastern- 2014 +9% 345 europe -0.4% 2007 411 Asia -7% 414 thereof 2015 China -12.8% 1,094 1,100 +11% 444 thereof 2014 China +10.2% +0.5% 2007 277 951 N

  13. Slide 13: Breakdown of Volume by Region

    World Material Handling Equipment Market Breakdown of Volume by Region based on incoming orders in units 2007 = 951,000 units 2015 = 1,100,000 units Asia Asia 28% Europe 38% Europe thereof China 34% 43% 12% thereof China 22% North 5% thereof America Eastern Europe North 8% 20% 7% America thereof 9%

  14. Slide 14: Breakdown of Volume by Product Segment

    World Material Handling Equipment Market Breakdown of Volume by Product Segment based on incoming orders in units Europe 18% Worldwide (28%) 63% 2015: 1,100,000 units (52%) 19% (20%) (2007: 951,000 units) Asia The trend towards 23% (18%) warehousing 40% 60% 43% 17% (66%) equipment (37%) (45%) (16%)

  15. Slide 15: Market Structure Comparison by Product Segment in 2015

    World Material Handling Equipment Market—Market Structure Comparison Broken Down by Product Segment in 2015 (2007) based on incoming orders in units Europe China 18% 18% (9%) (28%) 63% 69% 19% 13% (52%) (79%) (20%) (12%) Warehousing Battery-powered counterbalanced Internal combustion engine- equipme

  16. Slide 16: Development of Material Handling Equipment Markets of Importance to Jungheinrich

    Development of the Material Handling Equipment Markets of Importance to Jungheinrich Market volume in 2015 Market volume in 2014 China -13%1 USA +8% Germany +9% France +12%2 UK +15% Italy +21%2 Spain +27%2 Poland +8% Canada -3% European market volume in 2015 Australia still 9% down on pre-crisis lev

  17. Slide 17: Business Model

    Business Model

  18. Slide 18: The Jungheinrich Business Model

    The Jungheinrich Business Model New truck  Development, production and sale of new forklifts including logistics systems and mail-order business, focus on direct business sales  Hire periods: generally 1 day to 24 months  Targeted degree of capacity utilization 70% to 80% Financial services Short

  19. Slide 19: Divisions: Logistics Systems Business and Mail-Order Business

    Divisions: Logistics Systems Business and Mail-Order Business New truck business Net sales € 1,539 million Logistics systems System Project Racking trucks business €381 million €57 million Mail-order business Development of net sales in € million 19

  20. Slide 20: The Variety of our Solutions

    The Variety of our Solutions Material flow analysis Realization and Planning and system project design integration Maintenance Forklift trucks & Service (automated) Racking and Assistance storage systems equipment Shuttle Radio data systems Jungheinrich Stacker cranes WMS Conveyor system 20

  21. Slide 21: Jungheinrich Fortifies Position via Acquisition of MIAS Group

    Jungheinrich Fortifies Position as Leading Logistics Systems Provider via Acquisition of MIAS Group  Acquisition of Munich-based MIAS Group as of October 1, 2015  Company with international operations in the field of warehousing and transportation technology, specifically stacker cranes and load-h

  22. Slide 22: Continued Expansion of Direct Sales

    Continued Expansion of Direct Sales  Acquisition of the dealership business in Malaysia (April 2015)  Acquisition of Adelaide-based NTP Forklifts Australia (November 2015)  Establishment of companies in connection with the acquisition of the dealership activities in South Africa and Romania (Q4 2

  23. Slide 23: Business Development in 2015 and current Business Trend

    Business Development in 2015 and current Business Trend

  24. Slide 24: Incoming Orders

    Incoming Orders Of all business fields New truck business in € million units 2,535 +11% 2,817 85,600 +13% 97,100 2014 2015 2014 2015  Slightly over 60% of the rise is  Rise in demand in Europe attributable to new truck business  Significant increase in truck orders for  Includes a major order in

  25. Slide 25: Production and Orders on hand—New Truck Business

    Production and Orders on hand—New Truck Business Production Orders on hand units in million € 83,500 +9% 91,200 379 +26% 477 2014 2015 12/31/2014 12/31/2015  Production volume exceeds 90,000 units  The order reach was nearly four months for the first time 25

  26. Slide 26: Net Sales

    Net Sales Net sales—Intralogistics segment 2015 (2014) Consolidated net sales in million € 28% After-sales (29%) services New truck 55% business (54%) 17% (17%) Short-term hire 2,498 +10% 2,754 and used equipment Consolidated net sales by region 2015 (2014) 2014 2015 Germany 25% (26%)  All business

  27. Slide 27: Earnings

    Earnings in million € EBIT Net income 7.7% EBIT ROS 7.7% 193 +10% 213 126 +10% 138 2014 2015 2014 2015  Earnings growth driven by high unit production figures and relentlessly positive development in all business fields as well as in the Financial Services segment  The figure for 2014 included the

  28. Slide 28: R&D and Capital Expenditures

    R&D and Capital Expenditures in million € R&D Expenditures Capital Expenditures Capex ratio as a Capitalization 25% 21% 3% percentage 3% ratio of net sales 50.2 54.5 84 87 2014 2015 2014 2015  R&D expenditures hit yet another  Focal points in 2014 and 2015: • Construction of training centre at Nor

  29. Slide 29: Cash Flows

    Cash Flows in million € Cash flows from Cash flows from operating activities investing activities -93 -75 -168 110 +34 144 2014 2015 2014 2015  Cash flows from operating activities  Changes due to cash outflows for the significantly affected by net income and acquisitions of MIAS, NTP and the depr

  30. Slide 30: Net Debt

    Net Debt Net debt: Financial liabilities ./. liquid assets and securities (in million €) „Cash“  Decline largely due to the acquisitions of MIAS and NTP as well as the significant expansion of -132 -75 the short-term hire fleet 12/31/2014 12/31/2015 30

  31. Slide 31: Working Capital and ROCE

    Working Capital and ROCE in million. € Working Capital Capital Employed as a 22.3% percentage 20.5% 18.4% ROCE1 17.9% of net sales 556 566 1.047 1.187 12/31/2014 12/31/2015 12/31/2014 12/31/2015 1 ROCE: EBIT / capital employed (cut-off date). Capital employed: shareholder's equity + financial liabil

  32. Slide 32: Shareholders' Equity and Equity Ratio

    Shareholders' Equity and Equity Ratio Group's equity ratio Shareholders’ equity in million € Balance 3,040 sheet total 3,349 in million € 29.6% 30.6% 900 1,026 12/31/2014 12/31/2015 Equity ratio— Intralogistics segment 12/31/2014 12/31/2015  In 2015, shareholders’ equity reflected the 46.0% 47.6% p

  33. Slide 33: Financial Services—Highlights

    Financial Services—Highlights Original value of new contracts in million € 464 548  NTP financial services company 2014 2015 added in Australia Original value of contracts on hand  39% of new trucks sold via in million € financial service agreements (previous year: 36%) 1,841 2,072 Trucks in thous

  34. Slide 34: Workforce Trend

    Workforce Trend in full-time equivalent (FTE), including apprentices, excluding temporay workers Via acquisitions (MIAS, Organic expansion 13,962 NTP, dealership activities in Malaysia and +823 Employees South Africa) +6% +590 Employees 12,549 +5% Personnel increased by +1,413, or +11% 12/31/2014 12

  35. Slide 35: World Material Handling Equipment Market as of February 2016

    World Material Handling Equipment Market as of February 2016 Growth Rates by Region Worldmarket based on incoming orders in units; compared to Jan.-Feb. 2015 in thousand units xx 164.0 xx 167.1 1-2/2015 1-2/2016 Europe +14% Western +15% Eastern +6% thereof Russia +32% Asia -2% thereof China +1% +13%

  36. Slide 36: Current Business Trend—February 2016

    Current Business Trend—February 2016 Incoming orders in million € Incoming orders units 418 +12% 469 15,800 +6% 16,800 1-2/2015 1-2/2016 1-2/2015 1-2/2016 Net sales in million € Production units 391 +10% 432 13,700 +10% 15,100 1-2/2015 1-2/2016 1-2/2015 1-2/2016 36

  37. Slide 37: Orders on Hand—New Truck Business

    Orders on Hand—New Truck Business in million € +11% 530 477  The order reach was nearly five months 12/31/2015 02/29/2016 37

  38. Slide 38: Strategic Issues and Outlook

    Strategic Issues and Outlook 38

  39. Slide 39: The Jungheinrich Group's Growth Strategy

    The Jungheinrich Group’s Growth Strategy Goal 2020: ~€4 bn net sales 39

  40. Slide 40: World Material Equipment Market—Expected Development in 2016

    World Material Equipment Market—Expected Development in 2016 Incoming orders in thousand units World 2015 +0.5% 1.100  Slight increase in world market volume. 2014 1.094 2007 951 Europe  Market volume in Western and Eastern 2015 +8% 373 thereof Eastern Europe -7.2% Europe is currently expected to

  41. Slide 41: Jungheinrich Group—Forecast for 2016

    Jungheinrich Group—Forecast for 2016 We expect another positive business trend in 2016 41

  42. Slide 42: Jungheinrich Group—on Track for 2020

    Jungheinrich Group—on Track for 2020 1 Net sales forecast €4,0 bn 2020e €3,0 €2,9 bn €2,75 bn bn FY 2015 Forecast 2016 42

  43. Slide 43: Jungheinrich Group—Forecast for 2016

    Jungheinrich Group—Forecast for 2016 Incoming orders EBIT ROS EBT ROS €3.0 bn - €3.1bn minimum 7.6% minimum 6.9% ROCE Net sales 15% - 20% €2.9 bn - €3.0 bn Capital expenditures in tangible assets €90 m - €100 m EBIT €220 m - €230 m Research and development expenditures €60 m - €65 m EBT Dividend pol

  44. Slide 44: Disclaimer

    Disclaimer Since developments cannot be foreseen, the actual business trend may deviate from the expectations presented here based on assumptions and estimates made by Jungheinrich company management. Factors that may lead to such deviations include changes in the economic environment, changes in th

  45. Slide 45: Jungheinrich – Machines. Ideas. Solutions.

    GUNGHEINRICH Machines. Ideas. Solutions.

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