Jungheinrich AG : European exposure weighs in the short-term, but valuation is compelling – Neutral vs Underperform
>> 16% downside to consensus for FY22 EBIT, but structurally on track - Jungheinrich has published a profit warning and expects order intake to decline y-o-y, i.e. below € 4.9bn (cons. € 4.7bn). Group sales are expected to come in slightly above the FY 21 level of € 4.2bn (cons. € 4.5bn), while EBIT is expected to significantly decline y-o-y compared to the FY 21 level of € 360m (ODDO/cons.: € 371m/ € 386m), providing roughly 16% downside to the consensus (assuming a ...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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