Jungheinrich AG : Q4 23 EBIT 11% below consensus & b-t-b remained subdued (0.9x), FY 2024 EBIT/ order intake outlook provides 3%/5% upside to consensus at mid-point
>Weak profitability in Q4 (EBIT margin -2.8pp y-o-y) & less order intake momentum compared to KION - Jungheinrich reported a Q4 2023 order intake increase of 14% y-o-y to € 1,365m (o/w € 30m from SSI), which is 3% above the consensus estimate of € 1,320m but compares to reported 29% y-o-y increase at KION's ITS division in Q4 2023. Revenues increased by 12% y-o-y to € 1,526m (cons. € 1,379m) in Q4 2023. In FY 2023, 20% of sales were achieved outside of Europe, fuell...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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