Jungheinrich AG

Earnings Release • Nov 10, 2023

Interim statement as of 30 September 2023

Conference call

Dr Lars Brzoska (Chairman of the Board of Management) Dr Volker Hues (Member of the Board of Management, Finance) Hamburg, 10 November 2023

Q1–Q3 2023 At a glance

Significant economic slump, geopolitical risks high

Noticeable decline in orders, incoming orders still up against previous year at €3,873 million

Revenue exceeds €4 billion mark with an increase of 18 per cent

EBIT at €339 million with EBIT ROS of 8.4 per cent

Negative free cash flow, positive operating free cash flow when acquisitions not taken into account

Post-merger integration of Storage Solutions proceeding as planned

All remaining shares in robotics specialist Magazino acquired

Forecast for 2023 unchanged

Despite noticeable decline in orders, incoming orders higher than in previous year

Incoming orders in € million

Incoming orders of €127 million from the Storage Solutions Group included from 15 March 2023

New business including Storage Solutions driving revenue

Slight slowdown in earnings in third quarter, cumulatively significantly higher than in previous year

Storage Solutions contribution to operating result: €9 million

Contribution to earnings offset by negative effects from purchase price allocation (€5 million) and variable remuneration elements (€4 million)

Storage Solutions contribution to operating result: €21 million

Overall, EBIT affected by acquisition in the amount of €7 million due to transaction-related costs (€8 million), effects of purchase price allocation (€10 million) and variable remuneration components (€10 million) ⁵

Number of employees continues to increase due to strategy implementation

Addition primarily due to increased sales staff and Storage Solutions Group (179 employees), Magazino (123 employees), Chomutov (69 employees) and expansion of nearshoring organisation (161 employees)

¹ Full-time equivalents (FTE), including trainees and apprentices, excluding temporary workers.

2023 forecast unchanged

	Actual 2022	Forecast March 20231	Forecast April 20232
in € billion Incoming orders	4.8	4.8 to 5.2	5.0 to 5.4
Revenue in € billion	4.8	4.9 to 5.3	5.1 to 5.5
in € million EBIT	386	350 to 400	400 to 450
in % EBIT ROS	8.1	7.3 to 8.1	7.8 to 8.6
in € million EBT	347	325 to 375	370 to 420
EBT ROS in %	7.3	6.6 to 7.4	7.2 to 8.0
ROCE in %	16.3	13.0 to 16.0	15.0 to 18.0
in € million Free cash flow	–239	significantly better, but still negative

¹ 2022 Annual Report

² Ad hoc announcement on 24 April 2023 and interim statement as of 31 March 2023

Effects from the acquisition of Storage Solutions

Incoming orders: €0.3 billion

Revenue: €0.2 billion

EBIT €25 million to €30 million

Negative EBIT effects:

• One-off transaction-related costs (€8 million)
• Purchase price allocation (€13 million)
• Variable, performance-related remuneration (€15 million)

Free cash flow affected by €307 million purchase price payment, positive free cash flow when acquisitions excluded

Automation

Material product innovations for rapidly growing markets

First PowerCube orders secured

Market launch: new mobile robot solution of the future with EAE 212a

x

Complete takeover of all shares and initial consolidation in Q3 2023

With more than 120 employees, one of the largest mobile robot developer teams in Europe

Technology platform for the operation of logistics robots even in a mixed human-machine environment

Digitalisation

Digitalisation is advancing internally and externally

"Connected trucks": connectivity thanks to telemetry units in every new truck

Objective: significant increase in equipment ratio by 2025

Finalisation of new IT infrastructure in Q1 2024

Electric mobility is our core competence

100% electric trucks since March 2023

POWERLiNE trucks are CO2e-neutral until delivery to the customer

Sharp increase in demand for POWERLiNE trucks

Advancing, process-driving transformation

Production start for reach truck ETV 216i at Chomutov in June 2023

Production area of 37,000 square metres

Objective: 350 workspaces

Project budget of approx. €60 million

New building: energy efficient and carbon optimised

Nearshoring organisation expansion

Focus in Madrid internal IT services and development services for digital products

Focus in Brasov internal services for administrative areas

services related to software and hardware development

Global

platform for growth through racking and warehouse automation in the USA

Post-merger integration proceeding to plan

Successful business development is in line with expectations

Growth through acquisitions and strategic partnerships

Optimised offer of innovative automation solutions in North America with joint venture Rocrich

Combination of the Mitsubishi Logisnext (brand: Rocla) and Jungheinrich portfolios in the field of automated guided vehicles (AGVs)

Sustainability

Creating sustainable value

First-class ratings results: EcoVadis platinum awarded for third consecutive time

45 of 64 Jungheinrich companies have switched fully to renewable energy

UN Global Compact Initiative joined

Further development of projects to switch to CO2e-neutral after sales in Norway, UK and Netherlands