Jungheinrich AG

Investor Presentation • Aug 12, 2021

Interim report as of 30 June 2021 Conference call

Dr Lars Brzoska (Chairman of the Board of Management) Dr Volker Hues (Member of the Board of Management, Finance) Hamburg, 12 August 2021

Highlights of H1

• Market volume grew especially strongly around the world in the first half of 2021, as it did in Jungheinrich's core European market.
• The value of incoming orders rose 34 per cent to €2,419 million.
• In line with our expectations, all results were markedly higher than in the previous year.
• Net credit of €260 million was achieved following net credit of €194 million at the end of December 2020.
• Continued successful Covid-19 management; stabilisation of supply chains remains the biggest challenge.
• The raised forecast for 2021 which was updated in April is confirmed.

Incoming orders develop positively

Strong incoming orders increasingly visible in revenue

► The main driver of the increase in Group revenue was the new truck business (growth of €114 million). The primary reasons for this growth in revenue in the new truck business were the significantly higher production volume of trucks and solid growth in automated systems.

Revenue in € million

Results improve noticeably

EBIT in € million

► EBIT profits from the higher capacity utilisation at the production plants and the associated increase in gross profit. The increase in selling expenses is disproportionately lower than revenue growth.

Continuing restrained investment policy and increased R&D expenditure

Research & Development expenditure

1) Property, plant and equipment and intangible assets without capitalised development expenditure and right-of-use

ROCE nearly doubled and new ROCE introduced

Capital employed1) in € million

► Significantly higher EBIT and

doubling of ROCE.

10% less capital employed lead to

• 1) Shareholders' equity + Financial liabilities Cash and cash equivalents and securities + Provisions for pensions and long-term personnel obligations
• 2) EBIT as a percentage of interest-bearing capital employed (cut-off date) will be reported for the last time for the 2021 financial year

3) EBIT for the Intralogistics segment in % of the segment's average capital employed

22

Cash flow includes repayment of financing for the short-term rental fleet; net credit up once more

► The improvement in net credit is largely the result of increased cash flow from profit or loss plus depreciation, amortisation and impairment losses with moderate growth in working capital and the short-term rental fleet.

countries.

Changes in personnel with a focus on the sales organisation

Employees in the Group

► Increase in personnel largely attributable to the sales organisation.

► Temporary workers as of 30/06/2021 451 (31/12/2020: 324) primarily in the German production plants.

1) Employees including trainees and apprentices, excluding temporary workers

Raised forecast from April 2021 confirmed

2021 forecast1)
in € billion Incoming orders	4.2 to 4.5
in € billion Revenue	4.0 to 4.2
in € million EBIT	300 to 350
EBIT ROS in %	7.5 to 8.3
in € million EBT	280 to 330
EBT ROS in %	7.0 to 7.9
in € million Net credit	considerably > 300
ROCE2) in %	17 to 21
ROCE new in %	17 to 21

• ► Based on current estimates, incoming orders could slightly exceed the upper end of the range.
• ► The forecast is based on the assumption that there will be no more widespread lockdowns or plant closures over the further course of 2021 and that the supply chains remain intact.
• ► We will continue to implement measures to ensure our ability to deliver without restriction.
• ► The Strategy 2025+ goals and measures that were published in November 2020 will be fully pursued and key targets for 2025 reviewed by the end of the year.

2) Will be reported for the last time for the 2021 financial year

Conference Call H1 2021

¹⁾ Ad hoc announcement as of 22 April 2021

Disclaimer

Unforeseeable developments may cause the actual business trend to differ in future from the 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 intralogistics sector – including the consequences of the further development of the Covid-19 pandemic – as well as changes to the exchange rate and interest rates. No responsibility is therefore taken for the forward-looking statements in this presentation.