Jost Werke Se (JSTWF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you very much and a good morning from Norisenborg here in our headquarters and a warm welcome to our earnings conference for the first half year of 2025 and Q2 of 2025. We had challenging global markets, but JOST was able to continue its growth plan driven by the merger and acquisition of Hiva that we've taken, but also driven by some local market share gains. The Hyva post-merger integration is fully on track. The first synergies are being implemented and the exit of the non-core cranes business has been prepared in the second quarter of this year. We have signed the sales and purchase agreements this Monday on August 11th of 2025. We are also glad to report that we had some market share gains in agriculture in the APEC region and also in South America. where we were able to sign new long-term contracts with our agricultural OEMs. Market demand in Europe, Middle East and Africa was stabilized in the second quarter with order intakes slowly increasing. However, the demand in the US slowed down dramatically due to uncertainties based on the tariffs policy and the economic policy of the new administration. We've also been able to place a promissory note loan of 320 million, and we're very happy with the attractive conditions that we were able to obtain. Let's go to the financial highlights and they show the resilience of our business model. Our sales in Q2 were up 31% on mainly supported by the Hiba M&A and that effect already excludes the Cranes business. that is considered operations that we will discontinue. The organic sales were slightly down by minus 3% compared to the Q2 of 2024. The adjusted EBIT grew 10% to 37 million euros and the adjusted EBIT margin reached 9.5%. This was supported by a solid operating performance and also had some positive effects on...