Jost Werke Se · XETR:JST
Jost Werke — Investor Presentation (September 2025)
25 slides from Jost Werke's investor presentation, Sep 18, 2025
Slide 1: Investor Presentation
INVESTOR PRESENTATION JOST WERKE SE – September 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: JOST: A leading global supplier for commercial vehicles
JOST: A LEADING GLOBAL SUPPLIER FOR COMMERCIAL VEHICLES RELIABLY DELIVERING PROFITABLE GROWTH UNIQUE STRATEGIC POSITIONING … THAT CREATES SHAREHOLDER VALUE Trusted partner to OEMs, dealers, and end users worldwide leading to high global market shares for all core products Adj. Sales CAGR since IPO 6
Slide 4: Trusted partner to OEMs, dealers and end users
TRUSTED PARTNER TO OEMs, DEALERS AND END USERS GLOBAL MARKET LEADER FOR CORE PRODUCTS Results EUROPE Landing leg: #1 5th wheel: #1 H1 2025 NORTH Front loaders: #1 H1 2025 » 764 Hydraulic cylinders: #1 AMERICA SALES m€ Landing leg: #1 5th wheel: #2 ASIA Front loaders: #1 H1 2025 » 27.6 Landing leg: #
Slide 5: Wide range of mission critical systems for on- and off-highway commercial vehicles
WIDE RANGE OF MISSION CRITICAL SYSTEMS FOR ON- AND OFF-HIGHWAY COMMERCIAL VEHICLES Agricultural & Construction industry Transport industry Construction & Mining & Environmental industry (Hydraulics) JOST Werke SE I INVESTOR PRESENTATION – SEPTEMBER 2025 5
Slide 6: High global market shares, strong brands, high customer loyalty
STRONG BRANDS HIGH CUSTOMER LOYALTY PUSH & PULL SALES STRATEGY THROUGH STRONG BRANDS HIGH QUALITY & RELIABILITY LOW COSTS OF OWNERSHIP & EASY TO REPAIR SYSTEMS BEST-OF-CLASS SPARE PARTS AVAILABILITY LONG-TERM VALUE FOR CUSTOMERS HIGH BARRIERS TO ENTRY DUE TO NETWORK EFFECTS HIGH GLOBAL MARKET SHARES
Slide 7: Asset-light & flexible business model
ASSET-LIGHT & FLEXIBLE BUSINESS MODEL LOCAL-FOR-LOCAL REGIONAL CORE WITH GLOBAL REACH Asset-light Value chain Purchased Mech. Assembly Commercial Design/ Forging and Quality Logistics materials/ processing/ Coating & Painting vehicle engineering casting control integration pre-products machining Rob
Slide 8: Resilience through balance
RESILIENCE THROUGH BALANCE WIDE RANGE OF GEOGRAPHIES, INDUSTRIES AND CUSTOMERS SALES BY DESTINATION H1 2025 SALES BY INDUSTRIES H1 2025 SALES BY CHANNEL H1 2025 SALES BY CUSTOMER H1 2025 (in % of sales) (in % of sales) (in % of sales) (in % of sales) 5% 5% 25% 28% 28% Top 4% < 30 10 c 3% % us f sale
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: Our target: 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 – SEPTEMBER 2025 10
Slide 11: Replicating success in adjacent industries
REPLICATING SUCCESS IN ADJACENT INDUSTRIES SEIZING NEW OPPORTUNITIES FOR PROFITABLE GROWTH 2025→2030 OEM earnings power by end markets (Ø EBIT margin) Balancing Efficiency trends end markets Off-highway (50%) Automation and Mining Up to 2024 ~ 50% electrification Off-highway Infrastructure investmen
Slide 12: Investment highlights
Investment JOST STRATEGY CREATES SHAREHOLDER VALUE 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
Slide 13: Financials
bi o Ls |
Slide 14: 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 Approx. 2.9% of sales (in % of sales)
Slide 15: Market development expectations for 2025
MARKET DEVELOPMENT EXPECTATIONS FOR 2025 (INDUSTRY VOLUME) EMEA AMERICAS APAC 0–5% (30) – (25) % 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 16: 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 €213m 1,265 1,250 -14% +28% (5 months consolidated Hyva excl. Cranes) - Demand for Transport and Agriculture still below 1,049 173 208 1,069 Sales (€m) 76
Slide 17: Strong balance sheet
STRONG BALANCE SHEET 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 of
Slide 18: High cash generation
HIGH CASH GENERATION 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 r
Slide 19: 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 20: Acquisitions
Acquisi TIONS
Slide 21: Hyva acquisition: perfect strategic fit for our M&A criteria
HYVA ACQUISITION PERFECT STRATEGIC FIT FOR OUR M&A CRITERIA 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 streng
Slide 22: Post-merger integration on track: synergy potential >€20m p.a.
POST-MERGER-INTEGRATION ON TRACK HIGH SYNERGY POTENTIAL > €20M P.A. CONFIRMED ~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 com
Slide 23: Shareholder structure and share information
SHAREHOLDER STRUCTURE SHARE INFORMATION Shareholder structure as of September 15, 2025 PMB Management 10% Allianz Global ISIN DE000JST4000 10% Investors Trading symbol JST German Sec. Code Number (WKN) JST400 Other 10% FMR LLC Shares in issue 14,900,000 65% 5% Index SDAX Kempen Listed since July 20,
Slide 24: Upcoming investor events and investor relations contact
UPCOMING INVESTOR EVENTS Sept 23, 2025 Baader Investment Conference 2025, Munich/Germany Sept 24, 2025 Berenberg 14th Germany Corporate Conference, Munich/Germany Nov 13, 2025 Publication of Q3 2025 Interim Report Dec 1, 2025 Berenberg European Conference, London/UK INVESTOR RELATIONS CONTACT ROMY A
Slide 25: Slide 25