Jungheinrich (JUN3) Q4 2025 (Media) earnings summary

Executive summary

• Incoming orders rose 1.4% to €5.4 billion and revenue increased 2.0% to €5.5 billion, driven by new business, customer services, and automation projects, despite challenging market conditions and significant one-off effects impacting earnings.

• Strategy 2030+ was successfully launched, with the transformation programme largely implemented and a new segment structure completed.

• Market entry into the Mid-Tech segment began positively, supported by a strategic partnership with EP Equipment.

• Operating performance remained stable despite intense competition and a difficult economic environment.

Financial highlights

• Revenue reached €5,502 million, up 2% year-over-year; foreign revenue rose 3.8%.

• EBIT was €228 million, down from €434 million, due to €220 million in one-off effects; adjusted EBIT was €448 million (8.1% margin).

• EBT was €196 million (3.6% margin); adjusted EBT was €416 million (7.5% margin).

• Net profit dropped 64% to €104 million due to non-deductible losses from the Russian subsidiary sale; dividend payout ratio maintained at 28%.

• Free cash flow remained strong at €314 million.

Outlook and guidance

• 2026 forecast: incoming orders €5.4–6.0 billion, revenue €5.2–5.8 billion, EBIT €380–450 million (7.2–8.0% margin), EBT €350–420 million (6.7–7.5% margin), ROCE 14–18%, free cash flow >€250 million.

• Strategic focus on global expansion, automation, portfolio extension, and completion of transformation programme.

• Segment forecasts: ITS revenue €4.3–4.7 billion, EBIT €360–420 million; AWE revenue €0.9–1.1 billion, EBIT €0–15 million.

• Assumes stable supply chains and no escalation in geopolitical tensions.