Jungheinrich's Forklift and Warehouse Equipment Demand Benefiting From E-Commerce
Jungheinrich reported first-half 14% revenue growth and a flat EBIT margin of 7.6% versus year-end 2016. The market for global forklift demand has been exceptionally strong this year, rising in the double digits, and pulling Jungheinrich along with it; nevertheless, we think market demand can continue to grow in the high single digits for the medium term. We see Jungheinrich as a beneficiary of this and forecast high-single-digit revenue growth for the medium term, but with a flattish EBIT margi...Jungheinrich is engaged in the development of new trucks and logistics solutions. Co.'s operating activities are divided into two segments: Intralogistics, which is engaged in the development, production and sale of new trucks including logistics systems as well as the mail-order business, short-term hire which include the rental of new and used material handling equipment, reconditioning and sale of used equipment and the provision of after-sales services including the maintenance, repair and spare parts businesses; and Financial Services, which encompasses the usage transfer and sales financing of material handling equipment and warehousing technology products.
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