Jost Werke Se · XETR:JST
Jost Werke — Q3 2025 Earnings Presentation
26 slides from Jost Werke's earnings presentation, Nov 13, 2025
Slide 1: Earnings Conference 9M 2025 / Q3 2025
EARNINGS CONFERENCE 9M 2025 / Q3 2025 Joachim Dürr (CEO) & Oliver Gantzert (CFO) November 13, 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: Highlights
JOST accelerates its profitable growth in Q3 2025 despite challenging markets, supported by market share gains, organic growth and M&As Hyva PMI fully on track. Ramp-up of synergies advances further with new cross-selling opportunities identified. Market share gains across all regions and in all bus
Slide 4: Financial Highlights
JOST’S STRATEGY PROVES ITS RESILIENCE AND STRENGTH IN CHALLENGING MARKET ENVIRONMENTS Sales in Q3 2025 up by +56% to €383m supported by Hyva M&A effects and organic growth of +10% across all regions. Adj. EBIT grew by +40% to €37m in Q3 2025 and adj. EBIT margin reached 9.7% (at constant currency 9.
Slide 5: Hyva Integration Well on Track – Swift Synergy Implementation
HYVA INTEGRATION WELL ON TRACK – SWIFT SYNERGY IMPLEMENTATION Cross-selling synergies COGS synergies SG&A synergies Sales of Cranes business signed. Streamlining management and reporting Successful offering of Hyva products to Carved-out ongoing. Intended closing structure worldwide JOST’s customers
Slide 6: Industry Market Development Q3 2025 vs. Q3 2024
INDUSTRY MARKET DEVELOPMENT Q3 2025 VS. Q3 2024 EMEA AMERICAS APAC TRUCK 10 – 15 % (30) – (25) % 0–5% TRAILER 5 – 10 % (25) – (20) % (10) – (5) % TRACTOR (10) – (5) % (10) – (5) % 0–5% HYDRAULICS 0–5% (10) – (5) % 0–5% Note: Market estimates based on LMC, Clear Consulting, ACT, OEM announcements, JO
Slide 7: 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) ADJ. EBIT (CONT. OPERATIONS) SALES (CONT. OPERATIONS) BY DESTINATION 9M 2025 BY REGION 9M 2025 BY APPLICATION 9M 2025 (in % of sales) (in % of sales) (in % of sales) 26% 29% 31% 37% 47% 53% 27% 2% 18
Slide 8: Business Overview by Region
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Slide 9: EMEA – Organic Growth and First Synergies Improve Profitability in Q3 2025
EMEA1 – ORGANIC GROWTH AND FIRST SYNERGIES IMPROVE PROFITABILITY IN Q3 2025 EMEA + M&A sales contribution from Hyva’s continuing operations increased to Reported 24.4% 40.6% Growth €36m, leading to total sales growth of +41% in Q3 2025 558 + Market demand in Transport and Agriculture stabilized furt
Slide 10: Americas – Growth in Q3 Through Diversification and Market Share Gains
AMERICAS1 – GROWTH IN Q3 THROUGH DIVERSIFICATION AND MARKET SHARE GAINS HIGHLIGHTING BUSINESS RESILIENCE Americas Reported 16.9% 38.5% Growth + M&A contribution of €30m from Hyva consolidation supported reported Organic -7.7% 6.0% sales growth by +39% in Q3 2025 Sales (€m) 308 264 107 + Organic sale
Slide 11: APAC – Growth Boosted by Strong Hyva Position in Asia
APAC1 – GROWTH BOOSTED BY STRONG HYVA POSITION IN ASIA AND FURTHER MARKET SHARE GAINS IN AGRICULTURE APAC + Strong M&A contribution of €55m from Hyva, more than doubling Reported 115.2% 137.2% Growth sales in Q3 2025 vs. prior year Organic -4.9% 281 6.6% + Growth of agricultural business in APAC con
Slide 12: Group – Organic Growth in All Regions and M&A Contribution
GROUP1 – ORGANIC GROWTH IN ALL REGIONS AND M&A CONTRIBUTION BOOST SALES AND EARNINGS GROWTH IN Q3 2025 group Reported 36.1% 55.6% + M&A contribution from continuing operations in Hydraulics increased Growth to €121m in Q3 2025 Organic -1.8% 9.7% + Despite shrinking U.S. demand and overall industry u
Slide 13: Adjusted Net Income and Adjusted EPS
ADJUSTED NET INCOME AND ADJUSTED EPS income Reported net income declined to €22m (9M 2024: 11 €43m). 110 Reported EPS declined to €1.45 (9M 2024: €2.86) 41 -22 − PPA D&A adjustment grew to €-41m (9M 2024: €-18m) due to Hyva PPA, inventory step-ups and addition of regular depreciation of trademarks -
Slide 14: Preliminary Hyva PPA - Impact on P&L and Exceptionals in 9M
PRELIMINARY HYVA PPA - IMPACT ON P&L AND EXCEPTIONALS IN 9M P&L impacts from PPA and Exceptionals in 9M 2025 – [in €m] Comments Profit & Loss 9M-2025 Exist. PPA JOST Exceptionals Inventory step-up "PPA" 2025 New PPA Hyva • #1: D&A from new Hyva PPA amounted to 9M 2025 9M 2024 €-11.7m in 9M 2025. Thi
Slide 15: ROCE, Equity Ratio and Leverage Development
ROCE, EQUITY RATIO AND LEVERAGE DEVELOPMENT -2.8pp BALANCE SHEET - Increase in financial liabilities to finance acquisition of Hyva resulted in an 17.1% ROCE1 14.3% expected decline in ROCE, compared to year-end (%) + First sequential improvements to ROCE vs. prior quarter (Q2 2025: 13.0%) as adj. E
Slide 16: Cash Flow and Working Capital Development
CASH FLOW AND WORKING CAPITAL DEVELOPMENT CASH FLOW + Operative cash flow improved vs. prior year, due to Working Free cash flow1 Cash conversion 1.4 1.7 rate2 Capital improvements and additional positive FCF contribution by Hyva. (€m) 83.4 105.0 + Cash conversation rate in 9M 2025 remained above lo
Slide 17: Outlook
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Slide 18: 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 19: Outlook FY 2025 Confirmed
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 (in % of sales) 1 1: Excluding M&A App
Slide 20: Executive Summary
EXECUTIVE SUMMARY Strong Q3 2025 results despite challenging markets, proving success of JOST’s strategy AMBITION 2030. Diversification across end-industries, customers and regions strengthens resilience and profitability. Hyva PMI integration advancing swiftly, with clear focus on core business and
Slide 21: Questions / Appendix
Questions Appendix
Slide 22: Historical Seasonality
HISTORICAL SEASONALITY DEVELOPMENT OF JOST’S SALES AND ADJUSTED EBIT BY QUARTER Sales (€m) Adj. EBIT (€m) / Adj. EBIT Margin (%) 391 383 374 342 330 322 327 312 304 292 286 299 298 40 273 266 37 37 37 257 252 35 34 36 246 34 33 231 226 32 30 30 30 30 192 197 27 27 27 175 24 20 21 9.7% 11.6% 11.6% 11
Slide 23: Shareholder Structure and Share Information
SHAREHOLDER STRUCTURE AND SHARE INFORMATION Shareholder structure Share information as of November 13, 2025 PMB Management 10% Allianz Global ISIN DE000JST4000 Investors 10% Trading symbol JST German Sec. Code Number (WKN) JST400 10% FMR LLC Other Shares in issue 14,900,000 60% 5% Index SDAX Kempen
Slide 24: Business Steering Adjusted to Be Ready for Hyva Integration and Ambition 2030
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 25: Investor Events and Investor Relations Contact
INVESTOR EVENTS 2025 Nov 13, 2025 Publication of Q3 2025 Interim Report Dec 1, 2025 Berenberg European Conference, London/UK INVESTOR EVENTS 2026 Jan 8, 2026 ODDO BHF Forum 2026, Lyon/France Jan 13-14, 2026 German Investment Seminar 2026, New York/U.S. Jan 20, 2026 German Corporate Conference 2026,
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