Jost Werke Se · XETR:JST
Jost Werke — Investor Presentation (April 2025)
26 slides from Jost Werke's investor presentation, Apr 1, 2025
Slide 1: Investor Presentation – JOST Werke SE – April 2025
INVESTOR PRESENTATION JOST WERKE SE – April 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: Who we are: a leading global supplier for commercial vehicles
WHO WE ARE A LEADING GLOBAL SUPPLIER FOR COMMERCIAL VEHICLES » 1,069 FY 2024 SALES m€ FY 2024 ADJ. EBIT » 113 m€ » 10.6 FY 2024 ADJ. EBIT MARGIN % » 0.86 FY 2024 LEVERAGE x » +115 FY 2024 FREE CASHFLOW m€ JOST Werke SE I INVESTOR PRESENTATION – APRIL 2025 3
Slide 4: The next step: Hyva acquisition – global market leader for tipping cylinders
THE NEXT STEP HYVA ACQUISTION – A GLOBAL MARKET LEADER FOR TIPPING CYLINDERS JOST + HYVA PRO FORMA 2024 » 1,694 FY 2024 SALES m€ FY 2024 GROSS » 454 FRONT-END TIPPING CYLINDERS UNDERBODY CYLINDERS PROFIT m€ TIPPING CYLINDERS » 26.8 FY 2024 GP MARGIN % SKIP LOADERS CRANES » 147 FY 2024 ADJ. EBIT m€ W
Slide 5: JOST brand experience
JOST BRAND EXPERIENCE BRAND LOYALTY OF WIDE VARIETY OF PURCHASING DECISSION MAKERS Our strong brands and our customer focus build the foundation of JOST’s Push & Pull sales strategy, strengthening customers' trust in JOST and generating a high market demand for our solutions SAFETY-RELATED COMPONENT
Slide 6: Our market position
OUR MARKET POSITION THE GLOBAL LEADING SUPPLIER FOR FIFTH WHEELS, DESTINATION MIX 2024 LANDING LEGS AND FRONT LOADERS (in % of sales) EUROPE + Landing leg: 22% #1 MIDDLE EAST 5th wheel: APA 46% #1 Europe NORTH Front loaders: 32% AMERICA #1 Americas Landing leg: #1 ASIA APPLICATION MIX 2024 5th wheel
Slide 7: Flexible and asset-light global footprint with local for local regional core
FLEXIBLE AND ASSET-LIGHT GLOBAL FOOTPRINT WITH “LOCAL FOR LOCAL” REGIONAL CORE 24 + 14 KEY PARTS OF THE VALUE CHAIN Number of product variants 20 100 100 1,500 On demand production plants Purchased Mech. Assembly Design/ Forging and Quality Logistics Vehicle Production stage engineering casting mate
Slide 8: Advancing technology driving digital transformation
ADVANCING TECHNOLOGY DRIVING DIGITAL TRANSFORMATION FOR MISSION CRITICAL SYSTEMS Leveraging digital and automation know-how in R&D to develop smart solutions for our customers across business lines. Transport agriculture hydraulics DIGITAL COUPLING SOLUTIONS (DCS) DIGITAL LOADING SOLUTIONS (DLS) DIG
Slide 9: Ambition 2030
OUR TARGET COMMITMENT TO DRIVE VALUE CREATION Ambition 2030 SALES ADJ. ADJ. EBIT REVENUE EPS MARGIN 10.0% > € 2bn > €10 to per share 12.0% Shifting margin corridor CAGR: 7% p.a. CAGR: 8% p.a. up by 0.5pp JOST Werke SE I INVESTOR PRESENTATION – APRIL 2025 9
Slide 10: Opportunities to achieve profitable growth
OPPORTUNITIES TO ACHIEVE PROFITABLE GROWTH Balanced sizeable opportunities for all market applications, with growing OEM earnings power significance of trends in off-highway by end markets 2025-2030 (Ø EBIT margin) Balancing Efficiency trends end markets Automation and Mining electrification ~ 50% O
Slide 11: Investment Highlights
Investment INVESTMENT HIGHLIGHTS HIGHLIGHTS Technology leader with strong brands and high market shares worldwide Flexible and asset light business model with proven resilience through industry cycles Wide diversification by product, customer and region with high aftermarket shares Proven value crea
Slide 12: Financials
bi o Ls |
Slide 13: Outlook 2024 achieved
OUTLOOK 2024 ACHIEVED -15% decline y-o-y (+/- 2.5pp); -14.4% to Sales (2023: €1,250m) € 1,069m Low double-digit decline y-o-y, -19.8% to Adj. EBIT trailing sales (2023: €141m) € 113m Adj. EBIT Between 10.5% - 11.0% margin (2023: 11.3%) 10.6% 2024 Capex (in % of sales) 1 Approx. 2.5% - 2.9% of sales
Slide 14: Market development expectations for 2025
MARKET DEVELOPMENT EXPECTATIONS FOR 2025 (INDUSTRY VOLUME) EMEA AMERICAS APAC 0–5% (10) – (5) % 5 – 10 % TRUCK Demand stable on prior’s year Decline in class 8 demand Indian and Chinese market level with slight positive specially during H1, expected to expected to profit from incentives momentum exp
Slide 15: Outlook for 2025
OUTLOOK FOR 2025 Up by 50% to 60% vs. prior year Sales (2024: €1,069m) Up by 25% to 30% vs. prior year Adj. EBIT (2024: €113m) Up by 25% to 30% vs. prior year Adj. EBITDA (2024: €148m) 2025 Capex (in % of sales) 1 Approx. 2.9% of sales (2024: 3.1%) Outlook Working Capital Below 18.5% of sales (2024:
Slide 16: Strong performance: development of sales and earnings by region
STRONG PERFORMANCE DEVELOPMENT OF SALES AND EARNINGS BY REGION group - Cyclical decline for Transport in worldwide (organic - 2024 vs PY Growth (%) CAGR: 6 % 1,265 1,250 173 1,069 -14% 19% in 2024) 1,049 208 Sales (€m) 794 171 396 354 194 -6% - Markets for agricultural loaders continue to be weak 75
Slide 17: Balance sheet: ROCE, equity ratio and leverage development
ROCE, EQUITY RATIO AND LEVERAGE DEVELOPMENT -3.9pp BALANCE SHEET 21.0% - ROCE declined compared to year-end, mostly affected by ROCE1 17.1% sales-driven reduction of adj. EBIT (%) - ROCE slightly below the long-term target of >18% Dec 31, 2023 Dec 31, 2024 2.3pp + Equity ratio was up by 2.3pp, for t
Slide 18: Cash flow and working capital development
CASH FLOW AND WORKING CAPITAL DEVELOPMENT CASH FLOW Free cash flow1 Cash conversion 1.2 1.5 + Strong development of operative cash flow rate2 + Additional support through factoring offset negative impact from (€m) 112.3 115.1 earn-out payment for Ålö, beginning of 2024 + Cash conversation rate well-
Slide 19: Historical seasonality
HISTORICAL SEASONALITY DEVELOPMENT OF JOST’S SALES AND ADJUSTED EBIT BY QUARTER Sales (€m) Adj. EBIT (€m) / Adj. EBIT Margin (%) 40 342 37 330 322 327 312 304 34 35 34 292 286 299 298 33 32 273 266 30 30 30 30 257 252 246 27 27 27 231 226 24 24 199 202 197 23 192 21 178 175 12.0% 20 19 11.7% 11.6% 1
Slide 20: Acquisitions
Acquisi TIONS
Slide 21: Strategic M&A criteria fulfilled
STRATEGIC M&A CRITERIA FULFILLED Products and systems for transport, Commercial vehicles agriculture, mining and infrastructure (no passenger car!) industry Global market leader in hydraulic tipping Relative (regional) market cylinders with approx. 40% global market strength share High share of bran
Slide 22: Increase exposure to regions with above average growth
INCREASE EXPOSURE TO REGIONS WITH ABOVE AVERAGE GROWTH Pre-Deal Post-Deal GDP CAGR1) Sales JOST JOST + HYVA 2024-2029 EMEA2) 56% 49% -7pp sales exposure 1.6% Americas 30% 27% -3pp sales exposure 2.1% APAC 13% 25% +12pp sales exposure 5.1% 1 International Monetary Fund: World Economic Outlook (Jan 20
Slide 23: High synergy potential of more than €20m p.a.
HIGH SYNERGY POTENTIAL OF MORE THAN €20M P.A. ~23-28 €m p.a. synergies already identified ~12-24 €m synergy one-off costs estimated Further mid-term/long-term potential [€m], EBIT Effects foreseeable, but to be verified during PMI Savings & synergy EBIT effects by combining and leveraging both busin
Slide 24: Shareholder structure and share information
SHAREHOLDER STRUCTURE AND SHARE INFORMATION Shareholder structure as of March 31, 2025 Share information Allianz Global Investors 20% ISIN DE000JST4000 Trading symbol JST Other 45% German Sec. Code Number (WKN) JST400 Shares in issue 14,900,000 20% PMB Management Index SDAX Listed since July 20, 201
Slide 25: Upcoming investor events and investor relations contact
UPCOMING INVESTOR EVENTS March 26, 2025 Publication of Annual Group Report 2024 April 2, 2025 Metzler Small Cap Days 2025, Germany May 8, 2025 Annual General Meeting 2025 May 15, 2025 Publication of Q1 2025 Interim Report Aug 14, 2025 Publication of Q2 2025 Interim Report Nov 13, 2025 Publication of
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