Jungheinrich AG

Investor Presentation • Aug 9, 2018

Interim report as of 30 June 2018 Conference call

Hans-Georg Frey, Chairman of the Board of Management Hamburg, 9 August 2018

Jungheinrich highlights H1 2018

• Highs for incoming orders (value), revenue and EBIT
• Incoming orders at almost €2 billion
• Again significant increase in research and development expenditure
• Orders on hand up 30% compared to 31 December 2017; orders account for five months of production
• Forecast substantiated: incoming orders and revenue at the upper end of the range
• EBIT in the range of €270 million to €280 million confirmed

Global material handling equipment market, January to June 2018 Growth rates by region

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

Incoming orders for all business fields

Incoming orders, in € million

■ Just over one quarter of the increase 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 10%, after-sales services up by 8%
• Foreign revenue up 9% to €1,350 million
• Share of revenue from outside of Europe: 13%

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.
• Increased expenses for research and development again withstood in EBIT.

Research and development and capital expenditure

R&D expenditure, in € million

■ Focus: partial and full automation of trucks, lithium-ion technology, greater product variety

Capital expenditure, in € million

Employees

(full-time equivalent)1

• Expansion focus: Europe and South America
• 25% of the new employees work at the new sales companies in Colombia, Ecuador and Peru.
• Customer service organisation expanded by 325 employees, equivalent to 31% of the total new employees

1) Including apprentices, excluding temporary workers.

Global material handling equipment market

Forecast for global and European growth in 2018 revised

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

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

Jungheinrich Group 2018 forecast

	March 2018	August 2018
in € Incoming orders billion	3.75 to 3.85	Upper end of range
in € billion Revenue	3.6 to 3.7	Upper end of range
EBIT in € million	270 to 280
EBIT ROS	On a par with previous year (7.5%)
in € million EBT	250 to 260
EBT ROS	On a par with previous year (7.1%)
Net debt in € million	Medium double-digit million euro range	At around €100 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.