Jungheinrich AG

Earnings Release • Nov 6, 2018

Interim statement as of 30 September 2018 Conference call

Dr. Volker Hues, Member of the Board of Management, Finance Hamburg, 6 November 2018

Jungheinrich highlights Q1–Q3 2018

■ Significantly increased highs once again for incoming orders (value) and revenue

• Incoming orders at almost €3 billion
• EBIT record: €193 million (+5%) despite difficult underlying conditions
• Orders on hand up 51% on 31 December 2017; orders account for six months of production
• Forecast raised for incoming orders and revenue EBIT in the range of €270 million to €280 million confirmed

Global market,

Global material handling equipment market, January to September 2018

Growth rates by region

1,025 1,164 Europe Asia thereof China +19% North America World East +13.5% +12% +21% +15% West +14% +10% Q1 - Q3 2017 Q1 - Q3 2018 in thousand units

Sources: WITS, SIMHEM; based on incoming orders in units, January to September 2018 vs January to September 2017

Incoming orders for all business fields

Incoming orders, in € million

■ Growth significantly due to higher demand for logistics systems solutions

Development of new truck business

Development of new truck business

Production, in thousand units

Group revenue

Group revenue, in € million

■ "Logistics Systems" share of revenue: 15% ■ Short-term rental and used equipment increases by 11%, after-sales services up by 9%

Earnings

EBIT, in € million

■ In addition to staffing costs increasing significantly, raw materials prices exceeding expectations and the costs for the industry's most important trade fair, CeMAT, supply bottlenecks accompanied by price increases from some suppliers had a negative impact on earnings

Employees

(full-time equivalent)1

• Expansion focus: Europe and South America
• 23% of the new employees work at the new sales companies in Colombia, Ecuador and Peru as well as in Serbia.
• 370 after-sales technicians hired, equivalent to 28% of the total new employees

1) Including apprentices, excluding temporary workers.

Global material handling equipment market

Forecast for global and European growth in 2018 unchanged*

Sources: WITS, SIMHEM; based on incoming orders in units

2018 growth >10% for material handling equipment market, both globally and in Europe

2017 2016 2007

*Assumptions regarding market development for the whole of 2018 have not changed from those in the interim report published in August 2018.

Jungheinrich Group 2018 forecast adjusted

	March 2018	August 2018	November 2018
Incoming orders in € billion	3.75 to 3.85	Upper end of range	3.85 to 3.95 Upper end of range
in € Revenue billion	3.6 to 3.7	Upper end of range	3.65 to 3.75 Upper end of range
in € million EBIT	270 to 280		Lower end of range
EBIT ROS	On a par with previous year (7.5%)		Below the previous year
EBT in € million	250 to 260		Lower end of range
EBT ROS	On a par with previous year (7.1%)		Below the previous year
Net debt in € million	Medium double-digit million euro range	At around €100 million	At around € 120 million
ROCE	16.5% to 17.5%	15% to 16%

Disclaimer

Unforeseeable developments may cause the actual business trend to differ from expectations, assumptions and estimates of the management of Jungheinrich that are reproduced in this presentation. Factors that may lead to such deviations include changes in the economic environment, within the material handling equipment sector as well as to exchange and interest rates. No responsibility is therefore taken for the forward-looking statements in this presentation.