Jungheinrich AG : Q2 2023 EBIT 5% below cons. (on higher costs and despite € 2m net SSI effect), B2B close to 1.0x (positive), FY 2023 EBIT outlook 'only' confirmed (negative)
>Q2 order intake 4% ahead of cons., B2B remains resilient (i.e. close to 1.0x), Q2 EBIT negatively affected by higher costs - Jungheinrich reported an Q2 2023 order intake increase of 18% y-o-y to € 1,334m (o/w € 89m from SSI) not indicating the expected sequential normalisation vs the strong Q1 level of € 1.35bn and leaving the consensus estimate (€ 1,282m) 4% behind. Revenues increased by 20% y-o-y to € 1,367m (cons. € 1,317m) in Q2 2023, fuelled by: 1/ new busines...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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