Jost Werke Se · XETR:JST
Jost Werke — Non-Deal Roadshow (June 2025)
24 slides from Jost Werke's roadshow presentation, June 2025
Slide 1: Investor Presentation
INVESTOR PRESENTATION JOST WERKE SE – June 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 JOST RESULTS FY 2024 PRO FORMA 2024 (INCL. HYVA) FY 2024 » 1,069 » 1,694 FY 2024 SALES m€ m€ » 26.8 FY 2024 FY 2024 GP MARGIN » 27.5 % % » 113 » 147 FY 2024 FY 2024 ADJ. EBIT m€ m€ » 10.6 » 8.7 FY 2024 FY 2024 ADJ. EBIT MARGIN % % » +115 »
Slide 4: 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 5: 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 6: Flexible and Asset-Light Global Footprint
FLEXIBLE AND ASSET-LIGHT GLOBAL FOOTPRINT WITH “LOCAL FOR LOCAL” REGIONAL CORE 37 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 materials
Slide 7: 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 – JUNI 2025 7
Slide 8: 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 9: 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 10: 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 11: Financials
bi o Ls |
Slide 12: Outlook for 2025 Confirmed
OUTLOOK FOR 2025 CONFIRMED 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 sa
Slide 13: Market Development Expectations for 2025
MARKET DEVELOPMENT EXPECTATIONS FOR 2025 (INDUSTRY VOLUME) EMEA AMERICAS APAC 0–5% (20) – (15) % 5 – 10 % TRUCK Demand stable on prior’s year Uncertain market conditions due Indian and Chinese market level with slight positive to persistent tariff discussions. expected to profit from incentives mome
Slide 14: Strong Performance: Development of Sales and Earnings by Region
STRONG PERFORMANCE DEVELOPMENT OF SALES AND EARNINGS BY REGION group Growth (%) CAGR: 6 % 2024 vs PY + Positive M&A contribution in hydraulics of €104m 1,265 1,250 -14% (2 months consolidated Hyva sales in Q1 2025) +25.2% - Demand for Transport and Agriculture still below 1,049 173 208 1,069 Sales (
Slide 15: Balance Sheet: ROCE, Equity Ratio and Leverage
ROCE, EQUITY RATIO AND LEVERAGE DEVELOPMENT -3.6pp BALANCE SHEET 17.1% - ROCE1 13.5% Increase in financial liabilities to finance acquisition of Hyva resulted in an (%) expected decline in ROCE, compared to year-end Dec 31, 2024 March 31, 2025 -16.7pp - Increase in current and noncurrent liabilities
Slide 16: Cash Flow and Working Capital Development
CASH FLOW AND WORKING CAPITAL DEVELOPMENT CASH FLOW Free cash flow1 Cash conversion rate2 1.4 1.8 + Strong development of operative cash flow, supported by Hyva + Additional support through positive Working Capital development (€m) 35.1 44.2 + Cash conversation rate well-above long-term target range
Slide 17: Historical Seasonality
HISTORICAL SEASONALITY DEVELOPMENT OF JOST’S SALES AND ADJUSTED EBIT BY QUARTER Sales (€m) Adj. EBIT (€m) / Adj. EBIT Margin (%) 374 40 342 37 330 322 327 36 312 304 34 35 299 298 33 34 292 286 32 273 266 30 30 30 257 30 252 246 27 27 27 231 226 24 192 197 20 21 175 11.6% 11.6% 11.3% 11.4% 11.6% 11.
Slide 18: Acquisitions
Acquisi TIONS
Slide 19: 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 20: 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 21: 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 22: Shareholder Structure and Share Information
SHAREHOLDER STRUCTURE AND SHARE INFORMATION Shareholder structure as of June 9, 2025 Share information PMB Management 20% ISIN DE000JST4000 Trading symbol JST Fidelity Other Management German Sec. Code Number (WKN) JST400 10% & Research 55% Shares in issue 14,900,000 LLC Index SDAX 10% Allianz Liste
Slide 23: Upcoming Investor Events and Investor Relations Contact
UPCOMING INVESTOR EVENTS June 11, 2025 Paris Road show June 12, 2025 Warburg Highlights, Hamburg/Germany 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 Be
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