Jungheinrich (JUN3) Q2 2026 earnings summary

Executive summary

• Incoming orders rose 7.7% year-over-year to €2,954 million, driven by strong demand in both ITS and AWE segments, with orders on hand up 22.6% to €1,629 million.

• Revenue remained stable at €2,669 million, with AWE growth offsetting ITS declines and foreign revenue increasing.

• EBIT dropped 31% to €145 million (5.4% margin), impacted by €33.8 million in negative one-off effects from the Russian subsidiary sale, strike, and transformation program.

• Adjusted EBIT (excluding one-offs) was €179 million (6.7% margin), reflecting underlying operational performance.

• Free cash flow turned negative at €-99 million, mainly due to acquisitions and investments.

Financial highlights

• EBIT fell 31% year-over-year to €144.9 million; EBT down 33% to €132.2 million; profit declined 47% to €73.2 million; EPS dropped from €1.37 to €0.73.

• EBIT margin declined to 5.4% (from 7.9%); adjusted EBIT margin at 6.7%.

• Free cash flow was negative at €-99 million, mainly due to M&A outflows.

• ROCE dropped to 10.7% (from 15.6%), reflecting lower EBIT.

• Shareholders' equity increased to €2,556 million, with an equity ratio of 33%.

Outlook and guidance

• 2026 Group forecast revised: incoming orders €5.5–6.1 billion, revenue €5.3–5.9 billion.

• EBIT guidance lowered to €340–400 million (6.2–7.0% margin); EBT expected at €310–370 million (5.6–6.4% margin); ROCE forecast at 12–16%.

• Free cash flow guidance reduced to >€50 million (from >€250 million), reflecting M&A outflows.

• Segment guidance: ITS revenue €4.4–4.8 billion, EBIT €310–370 million; AWE revenue €0.9–1.1 billion, EBIT €0–15 million.

• EBIT/EBT forecasts include €40 million in negative one-off effects.