Jost Werke Se (JSTWF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning from our headquarters in Norisenburg and a warm welcome to our earnings conference for the financial year 2025. So let's look at the highlights of last year. We had a year of growth in Joost with the consolidation of our Hiva business. We successfully integrated that business into the group starting February 1st, and we were able to capture the first synergies already in the year 2025. Another part of that integration was that we successfully sold and carved out the non-core cranes business that we've acquired with this transaction and were able to swiftly close that also in December of 2025. We also had support for market share gains through new customer projects as we successfully combined our local for local approach in regions with our global OEM contact and our global strength. The market environment was not supportive last year. US markets were shrinking by 25% to 30%. But despite this, we were able to manage and achieve an organic growth in the Yoast organic business. So we've achieved our outlook for 2025 with earnings at the upper end of the corridor supported by the fast implementation of the synergies of the Huber transaction. So let's look at the financial highlights, sales, Growth of 44% to about 1.5 billion in 2025, supported by the M&A effect, but also supported by an organic growth of about 2% in our continuous business. Our adjusted EBITs from continuous operations grew 29% to 145 million, and the adjusted EBIT margin reached 9.5%, a constant currency, 9.6%. The free cash flow grew by 6% to 126 million, reaching a new record, and that was driven by the Hiva contribution and the improvements in working capital. Our leverage came in at 2.27 times at the end of 2025, reaching the target of 2.5, below 2.5, based on the debt-financed Hiva acq...