HAMBURG, Germany, March 18 /PRNewswire-Asia/ -- Jungheinrich AG closed the 2008 financial year with record sales and strong earnings despite the global economy’s marked cool down in the fourth quarter. The company published preliminary financials on March 12, 2009. Incoming orders, including all divisions, climbed by 1 per cent to 2,145 million euros (prior year: 2,120 million euros). Group net sales for 2008 amounted to 2,145 million euros -- 7 per cent up on the year-earlier level (2,001 million euros). Last year, earnings before interest and taxes (EBIT) decreased by 13 per cent to 121.8 million euros (prior year: 139.5 million), the second-highest figure in the company’s history. The EBIT return on sales totalled 5.7 per cent (prior year: 7.0 per cent).
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The Board of Management of Jungheinrich AG will propose to the Supervisory Board that a draft resolution be submitted to the Annual General Meeting on June 9, 2009, envisaging a marginal reduction in the dividend by 0.03 euros, from 0.52 euros to 0.49 euros per ordinary share, and from 0.58 euros to 0.55 euros per preferred share. The Board of Management is thus adhering to the principle of dividend continuity.
"Jungheinrich maintained its course for growth in 2008, despite the weakening of the market, which was already very noticeable in the second half of the year. Our sector’s outlook has clouded even further in 2009. The material handling equipment market has weakened substantially. We adapted to this difficult situation early on and rigorously, by implementing appropriate projects and measures. Benefiting from its strong position as logistics service provider among other things, Jungheinrich is well equipped and will emerge from the global economic crisis a stronger company -- I’m convinced of this," says Hans-Georg Frey, Chairman of the Board of Management of Jungheinrich AG. Given the uncertain economic setting and the resulting substantial imponderables, the company is not making a specific forecast for its continued business performance at present. "We must wait for the first few months to give us a clear picture of the direction in which business might go this year. We are certain that we will not be able to decouple ourselves from the general economic trend," comments Hans-Georg Frey.
Jungheinrich will disclose detailed information on its 2008 financial year at its balance sheet press conference on April 8, 2009, in Hamburg, Germany.
Jungheinrich ranks among the world’s leading companies in the material handling equipment, warehousing and material flow engineering sectors. The company is a logistics service provider with manufacturing operations, which offers its customers a comprehensive range of forklift trucks, shelving systems, services and consulting covering the entire field of intra-logistics. Jungheinrich shares are traded on all German stock exchanges.
