Jungheinrich cuts 2030 revenue target to €7–8 billion and EBIT margin to 8%–9%
Key Facts
On November 10, Jungheinrich cut its 2030 revenue target to between €7 billion and €8 billion and set its return on sales at 8% to 9%. Its previous plan targeted revenue of €10 billion and an EBIT margin of 10% by the same year. The company said the revised trajectory reflects rising geopolitical tensions and weak economic growth in its core European markets. It also cited structural shifts in the materials handling equipment market. The announcement came alongside mixed results for the first nine months of 2026: orders and revenue increased, while adjusted EBIT fell from the year-earlier period.
Incoming orders rose 6% to €4.323 billion in the first nine months, from €4.077 billion a year earlier. Group revenue increased 1.5% to €4.068 billion, compared with €4.008 billion in the corresponding period of 2025. The company posted EBIT of €241.8 million, with a margin of 5.9%, against €160.3 million and a margin of 4.0% a year earlier. It said one-off negative effects of €36.5 million affected the current period’s results. These separate figures do not provide a basis for describing the third quarter alone; the statement reports results for the first nine months.
Excluding one-off effects, adjusted EBIT was €278.3 million, with a return on sales of 6.8%. In the corresponding period of 2025, adjusted EBIT was €323.2 million and the margin was 8.1%. The company said one-off effects totaling €162.9 million had weighed on earnings in the first nine months of last year. The adjusted comparison shows a decline in operating profit and margin despite growth in orders and revenue. Jungheinrich cited intensifying competitive pressure in the context of lower adjusted earnings, alongside the economic and market-structure factors it had used to revise its long-term targets.
Free cash flow turned negative at €106 million in the first nine months, after reaching positive €151 million a year earlier. Jungheinrich attributed this mainly to cash outflows of €157 million for investments and acquisitions. In the automation and warehouse equipment segment, EBIT rose to positive €0.8 million, from negative €30.3 million in the corresponding period. The segment margin improved to 0.1% from negative 4.7%. This highlights an improvement in the segment’s result, while the broader group picture remained mixed, with growth in revenue and orders, lower adjusted profit and investment spending weighing on cash.
The company reaffirmed its 2026 financial-year outlook, with incoming orders of €5.5 billion to €6.1 billion and revenue of €5.3 billion to €5.9 billion. It expects EBIT of €340 million to €400 million, with an EBIT margin of 6.2% to 7.0%. The outlook includes one-off negative effects of €40 million. In its first-half announcement, Jungheinrich had raised its incoming-orders forecast range from €5.4–6.0 billion to €5.5–6.1 billion. It also raised its revenue range at the time from €5.2–5.8 billion to €5.3–5.9 billion, the ranges it retained in its latest announcement.
Chief Executive Lars Brzoska said the company “reaffirms its strategic direction and remains committed to its growth trajectory.” Jungheinrich says its goal remains profitable growth and strengthening its global competitiveness. It added artificial intelligence as a fifth strategic area, alongside global expansion, automation, portfolio expansion and transformation. The company is scheduled to take part in the BNP Paribas Midcap CEO Conference in Paris on November 17, 2026. Its calendar also includes the Berenberg European Conference in Windsor on November 30, following publication on November 10 of its statement for the period ended September 30.