Jungheinrich AG

Quarterly Report • May 15, 2009

Interim report as of March 31, 2009

Global material handling equipment market halved

Market position improved

Incoming orders and net sales down

After-sales services stable

Slightly negative earnings

Cost and structural projects underway

Jungheinrich Group at a glance

		Q1 2009	Q1 2008	Change in %	Year 2008
Incoming orders	million €	405	553	– 26.8	2,145
Net sales
Germany	million €	118	133	– 11.3	557
Abroad	million €	295	358	– 17.6	1,588
Total	million €	413	491	– 15.9	2,145
Foreign ratio	%	71	73	–	74
Orders on hand (03/31)	million €	231	383	– 39.7	242
Capital expenditures 1	million €	14	9	55.6	74
Earnings before interest and taxes (EBIT)	million €	– 2.8	29.6	– 109.5	122
EBIT return on sales (ROS)	%	– 0.7	6.0	–	5.7
Earnings before taxes (EBT)	million €	– 3.1	30.0	– 110.3	121
Net income (loss)	million €	– 3.6	18.1	– 119.9	77
Earnings per share	€	– 0.11	0.53	– 120.8	2.26
Employees (03/31)
Germany		4,884	4,814	1.5	4,950
Abroad		5,765	5,588	3.2	5,834
Total		10,649	10,402	2.4	10,784

1 Tangible and intangible assets excluding capitalized development costs.

Jungheinrich share—capital market-oriented key data

	03/31/2009	03/31/2008	12/31/2008
Earnings per share €	– 0.11	0.53	2.26
Shareholders' equity per share €	18.13	17.06	18.38
Closing quotation 1 €	8.05	23.00	9.05
Market capitalization million €	273.7	782.0	307.7
PER 2 (based on closing quotation) factor	negative	10.8	4.0
Number of shares 3 millions	34.0	34.0	34.0

1 Closing quotation on Xetra, Frankfurt, Germany. 2 Price-earnings ratio.

3 Of which 16.0 million are preferred shares and 18.0 million are ordinary shares.

Dear Shareholders,

The world economic downturn left deeper marks than expected just a few months ago. The material hand ling equipment industry was among the sectors on which this had a huge effect. The significant contraction of the market observed in the fourth quarter of 2008 continued unabated in the first quarter of 2009. Jungheinrich was unable to decouple itself from this negative trend, although it succeeded in strengthening its position on the market. We prepared ourselves for the difficult environment in our sector and the economy as a whole early on and put together a comprehensive package of crisis-management and earnings improvement measures. A greater loss was prevented in the first quarter, thanks to the first positive effects.

The Jungheinrich share

Domestic and international stock markets got off to a bright start to the 2009 trading year, despite the repercussions of the financial and economic crisis. Germany's share indices gained considerable ground. Bleak economic prospects determined developments thereafter. An upward trend began toward the end of the period under review. The Jungheinrich share posted a marked increase in price in this turbulent environment, achieving its high for the year of €10.20 on January 6, 2009, before coming under heightened pressure and dropping to a year-low €6.79 on March 11, 2009. At the end of March 2009, Jungheinrich's share was listed at €8.05—down 11 per cent on its closing quotation as of December 30, 2008. In the same period, the German Share Index (DAX) and the German Small Cap Index (SDAX) both fell by 15 per cent to 4,085 and 2,375 points, respectively.

1 All figures are indexed to Jungheinrich's share price.

Since January 7, 2009, Jungheinrich's preferred share capital has been fully securitized via a global certificate, which has been deposited with Clearstream Banking AG, Frankfurt am Main. Holders of preferred stock own shares in the company commensurate to the stake they have as co-owners and the credit in their security deposit accounts. The share certificates issued as part of Jungheinrich AG's initial public offering were no longer accurate, in part due to the conversion of the capital stock from deutsche marks to euros and a stock split. Therefore, they were retired in exchange for co-ownership shares in the first quarter of 2009. After the call for the exchange had been published three times, all preferred shares (certificates and coupons) in circulation which had become incorrect were declared null and void in accordance with Sec. 73 of the German Stock Corporation Act (AktG).

Since the business trend was still good in the 2008 financial year, the Board of Management and the Supervisory Board will propose to the Annual General Meeting on June 9, 2009, that the dividend be decreased by a mere €0.03 to €0.49 per ordinary share and to €0.55 per preferred share for fiscal 2008 compared with the previous year.

Interim group management report

General conditions

General economic situation

Economic growth of selected economic regions (GDP ¹ ) in %

Region	Forecast
	2009	2008
World	– 1.3	3.7
USA	– 3.5	1.1
China	6.5	9.0
Eurozone	– 4.5	0.7
Germany	– 6.0 to – 7.0	1.3

1 Gross domestic product. Source: Commerzbank & IMF.

The conditions underlying the global economy deteriorated more in the first quarter of 2009 than anticipated only a few months ago. Leading economic research institutes are outdoing each other in ever shorter intervals by publishing economic forecasts painting an increasingly sombre picture of the economy's development. North America's and Western Europe's economies are in the worst recession in decades. The sector's economic cycle was unable to withstand the downward spiral caused by the world economic downturn, with the steep decline from the fourth quarter of 2008 carrying over into the first three months of this year unabated.

Worldwide market volume of material handling equipment in thousand units Warehousing equipment Counterbalanced trucks 89.0 150.9 Q1 2008 239.9 54.9 66.0 Q1 2009 120.9

Source: WITS (World Industrial Truck Statistics).

Market volume of material handling equipment in Europe in thousand units

Source: WITS (World Industrial Truck Statistics), incl. Turkey.

Development of the market for material handling equipment

Market volume of material handling equipment in thousand units
	Q1	Q1
Region	2009	2008
Europe (incl. Turkey)	51.5	108.8
North America	22.6	42.3
Asia	39.0	69.1
World	120.9	239.9

In the first quarter of 2009, the collapse in worldwide demand for material handling equipment cut the global market volume in half to 120.9 thousand forklift trucks (prior year: 239.9 thousand units). All regions made roughly equal contributions to this decline. Asia experienced the smallest decrease, shrinking by 44 per cent. China posted a below-average drop of 29 per cent. Europe's market volume contracted by 53 per cent. Eastern Europe accounted for a substantial proportion, recording a 77 per cent drop in demand. Western Europe posted a 46 per cent decline. North America continued the downward trend it has been displaying for several years, with its market shrinking by 47 per cent. All product segments were affected by the decrease in the size of the world market. The decline in warehousing equipment amounted to 38 per cent, which was slightly less significant than the decrease in counterbalanced trucks, which totalled 56 per cent. The Jungheinrich Group stood its ground in this difficult market environment and expanded its worldwide market position.

Business trend

Business trend—key figures
	Q1	Q1
	2009	2008
Incoming orders million €	405	553
Production thousand units	12.1	21.6
Orders on hand (03/31) million €	231	383
Net sales million €	413	491

Owing to the global economic downturn, the Jungheinrich Group's business volume decreased considerably from January to March 2009.

Incoming orders

Interim group management report Interim consolidated financial statements

In the first quarter of 2009, incoming orders in terms of units in new truck business fell significantly below the year-earlier level. But the drop was slightly less pronounced than that of the market. In addition to the reduction in demand from customers, due to the economic slump, fewer trucks were added to the short-term hire fleet than in the same period last year. The value of incoming orders including all business areas declined to a lesser degree in the same period, dropping by 27 per cent to €405 million (prior year: €553 million).

Production

Production output was adapted to the substantial decline in incoming orders in the first quarter of 2009. Output decreased by 44 per cent to 12.1 thousand trucks (prior year: 21.6 thousand units).

Orders on hand

As of March 31, 2009, orders on hand from new truck business totalled €231 million, down 40 per cent on the €383 million achieved on the corresponding date last year. The decline compared with the €242 million in orders on hand at the end of 2008 was a marginal €11 million. The order reach declined from more than four to less than three months.

Net sales

In the first quarter of 2009, net sales fell by some 16 per cent to €413 million (prior year: €491 million). All business areas contributed to this decline in net sales. In line with the market trend, new truck business was hit the hardest, recording a drop of 27 per cent. Short-term hire and used equipment operations followed with a decrease of just 4 per cent, with the used equipment business posting a slight rise. After-sales services, which have less cyclical exposure and benefit from the steady increase in market penetration, were nearly stable, slipping by a marginal 2 per cent. The foreign ratio of consolidated net sales declined to 71 per cent (prior year: 73 per cent) owing to the strong decrease in foreign sales.

Earnings, asset and financial position Earnings position

Earnings trend of the Jungheinrich Group
in million €	Q1 2009	Q1 2008
Earnings before interest and taxes (EBIT)	– 2.8	29.6
Earnings before taxes (EBT)	– 3.1	30.0
Income taxes	0.5	11.9
Net income (loss)	– 3.6	18.1

Interim group management report

The massive contraction of the market and drop in demand in new truck business are reflected in the Jungheinrich Group's earnings trend for the first three months of 2009. The significant reduction in plant capacity utilization led to a huge collapse in earnings. This was compounded by the negative effect of high material prices, which stemmed from last year. In contrast, the strong after-sales services business proved to be a pillar that stabilized the development of earnings. Measures initiated in 2008 to adapt production to lower demand started having a positive impact, especially in the last month of the reporting period. Thanks to this effect and the stable after-sales services business, the company managed to prevent recording a bigger loss. Earnings before interest and taxes (EBIT) dropped to -€2.8 million in the first quarter (prior year: +€29.6 million). The corresponding return on sales fell to -0.7 per cent (prior year: +6.0 per cent). The tax expense was low, and net income (loss) amounted to -€3.6 million (prior year: +€18.1 million). As a result, earnings per share declined to -€0.11 (prior year: +€0.53) on the back of 34.0 million shares.

Asset and financial position

in million €	03/31/2009	12/31/2008
Assets
Non-current assets	1,089	1,099
Inventories	262	247
Other current assets	505	571
Liquid assets and securities	272	262
Balance sheet total	2,128	2,179
Shareholders' equity and liabilities
Shareholders' equity	616	625
Non-current liabilities	884	893
Current liabilities	628	661
Balance sheet total	2,128	2,179

Asset and capital structure

In the period from January to March 2009, the Jungheinrich Group's asset and financial position was primarily characterized by the considerable decline in business and the negative earnings trend resulting from it. Non-current liabilities decreased by €10 million to €1,089 million (12/31/08: €1,099 million). The expansion of financial service activities was contrasted by a stronger decline in trucks for short-term hire. Capital expenditures on tangible and intangible assets—excluding capitalized development costs—rose to €14 million in the first quarter of 2009 (prior year: €9 million). A major portion was used to construct the new factory in Landsberg near Halle (Saxony-Anhalt) and to make investments associated with the expansion of sales companies outside Germany. Inventories increased by €15 million to €262 million (12/31/2008: €247 million) above all driven by the rise in used equipment from the short-term hire fleet.

The substantial €66 million decline in other current assets to €505 million (12/31/08: €571 million) almost exclusively stemmed from the reduction in trade accounts receivable. Liquid assets and securities were up by a total of €10 million to €272 million (12/31/2008: €262 million). The drop in shareholders' equity by €9 million to €616 million (12/31/2008: €625 million) stemmed from the downward earnings trend. At 29 per cent, the equity ratio was flat due to the reduction in the balance sheet total. Non-current liabilities decreased by €9 million to €884 million (12/31/2008: €893 million). The decline in current liabilities by €33 million to €628 million (12/31/2008: €661 million) was due to the business-induced decrease in trade accounts payable and the reduction of financial liabilities.

in million € Q1 2009 Net income (loss) – 4 Depreciation and amortization 40 Changes in trucks for short-term hire and trucks for lease (excl. depreciation) and in receivables from financial services – 21 Changes in liabilities from financing trucks for short-term hire and financial services – 5 Other changes 18 Cash flows from operating activities 28 Cash flows from investing activities 2 Cash flows from financing activities – 4 Net cash changes in cash and cash equivalents 26	Statement of cash flows
		Q1
		2008
		18
		37
		– 47
		4
		5
		17
		– 9
		– 5
		3

Cash flows from operating activities in the first quarter of 2009 totalled €28 million (prior year: €17 million). The decline in net income (loss) was more than offset by the fact that fewer funds were tied up by changes in trucks for short-term hire and trucks for lease (up €27 million) as compared with the year-earlier period. Changes in liabilities from financing trucks for short-term hire and financial services (down €9 million) were overcompensated by cash flows from other changes (up €13 million). One of the major effects felt here was the significant decrease in working capital. Cash flows from investing activities in the first three months came in at a positive €2 million (prior year: negative €9 million). This item included €17 million from the sale of securities that matured in the period under review. Excluding this effect, cash flows from investing activities would have been comparable, amounting to a negative €15 million.

Employees

03/31/2009			10,649
	5,765	4,884
03/31/2008	5,588	4,814	10,402
Abroad	Germany

Research and development

Research and development costs
in million €	Q1 2009	Q1 2008
Total research and development costs	9.6	9.7
Thereof capitalized development costs	1.7	1.3
Capitalization ratio	18.1 %	13.4 %
Amortization of capitalized development costs	2.0	1.9
Research and development costs according to the income statement	9.9	10.3

The Jungheinrich Group maintained the high level of intensity of its development work in the first quarter of 2009. One of the focal points was drive technology, an area in which energy efficiency combined with enhanced performance takes centre stage. Attention was also directed to continuous upgrades and supplements to the expansive product range. Some 340 employees were working on development projects throughout the Group. By the end of the first three months, research and development costs amounted to €9.6 million (prior year: €9.7 million). At the end of the quarter, the capitalization ratio was 18 per cent (prior year: 13 per cent). Research and development costs according to the income statement amounted to some €10 million (prior year: over €10 million).

Employees

The dramatic development of the world economic downturn and the associated collapse in demand for material handling equipment is showing signs of affecting headcount. The first adjustments of orderrelated production to the drop in demand were made by taking measures which did not have an impact on the core workforce. To this end, the temporary staff and work time account balances were reduced and temporary work contracts were not extended. Furthermore, short-time work was introduced for the Norderstedt and Moosburg plants on March 1, 2009, and vacated positions were not re-staffed.

The permanent workforce decreased by 135 employees in the first quarter of 2009. This affected all business areas. As of March 31, 2009, the headcount stood at 10,649 (12/31/2008: 10,784). At the end of the re port ing period, 4,884 staff members (46 per cent) were employed in Germany, while 5,765 staff members (54 per cent) worked abroad. Moreover, the groupwide temporary workforce was reduced by 200 employees.

Changes in personnel

Dr. Volker Hues assumed his post as member of the Board of Management in charge of finance at Jungheinrich AG as of April 1, 2009.

Risk report

Due to its international business activities in the fields of material handling, warehousing, and material flow technology and its expansion into new markets, the Jungheinrich Group is naturally exposed to a large number of risks. Therefore, the early detection of risks and appropriate countermeasures are an important element in managing the company. The company's risk assessments are based on a risk management system which establishes relevant principles and procedures in a groupwide guideline and is constantly refined.

For information on the assessment of risks broken down by category, reference is made to the risk report in the Group management report for the 2008 financial year. Jungheinrich was not exposed to any material risks going above and beyond the risks described in detail in the 2008 annual report since it was published. The development displayed by the economy and the consequences it has for the demand for material handling equipment will determine the remaining course of the year. As before, the company's financing rests on a solid basis.

Events after the end of the first quarter of 2009

No transactions or events of major importance to the Jungheinrich Group occurred after the end of the first quarter of 2009.

Outlook and opportunities

As regards the company's continued business trend, Jungheinrich expects the overall economy to shrink in fiscal 2009, based on its projections for world trade. While nearly all western industrial nations are experiencing an increasingly severe recession, the pace of growth displayed by emerging regions, such as Asia, is likely to decelerate substantially, with countries like China and India leading the way. It is impossible to reliably quantify the effects the major economic aid packages launched the world over will have on the global economy's future development or the direct or indirect impact this may have on the material handling equipment sector.

In view of this negative economic scenario, our sector's economic prospects for 2009 remain gloomy. Jungheinrich is braced for a significant reduction in market and business volume in 2009. Keeping the uncertainty of market estimates in mind, the worldwide market for material handling equipment will probably decline by about 30 per cent to roughly 600 thousand trucks (prior year: 872 thousand units). The unit decline will prevail across all the world's sales markets, to marginally varying degrees. At present, demand is not anticipated to be revitalized before the second half of 2010. Nevertheless, the company is convinced that it is well equipped to prevail in a difficult market environment. Reasons for this are the early course charted towards robust financing and measures initiated to adapt production to the reduction in demand, as well as intensified inventory and cost management. Moreover, the continued rise in the Jungheinrich trucks' Europe-wide market penetration will have a positive effect on the development of sales in the after-sales services business. Given the steep drop in demand in new truck business, the company expects incoming orders and net sales to end the year in the order of about €1.7 billion each (prior year: €2.1 billion).

Interim group management report

The Jungheinrich Group will maintain its high level of development activity and provide proof of its potential especially against the backdrop of the unfavourable framework conditions prevailing at present. Activities tailored to this purpose include the launch of new vertical order pickers and the development of additional products to tap new segments and markets. Some of these products will be introduced to the market before year-end.

Construction of the new battery-powered low platform truck factory in Landsberg near Halle (Saxony-Anhalt) will be completed towards the end of the year, at which time production will have commenced. Expansion of the worldwide direct sales and service network will continue regardless of the sector's adverse environment, but it will be adapted to regional needs with good measure. In sum, capital expenditures will be significantly lower year on year and range between €40 to 50 million.

In 2009, the earnings trend will largely be determined by the degree to which production capacity is utilized in the company's plants. Incisive structural projects are also among the measures defined last year. Redundancies in certain Group units especially hard hit by the crisis will be unavoidable. It is currently impossible to make a statement on the number of jobs affected. Intense negotiations are presently being conducted with employee representatives. The extent of the expected earnings decrease in 2009 will depend on the global economic trend in the next few months as well as the scope of structural measures to be taken and the ensuing one-off costs. At present, the company is doing all it can to prevent a negative operating result. In this context, one must take into account the fact that the comprehensive cost and structural projects initiated will only take effect over the course of the coming months. Thanks to these numerous efforts, the company is confident that it is well equipped to emerge stronger from the worldwide economic crisis.

Since developments cannot be foreseen (this applies primarily to changes triggered by the financial and economic crisis) the actual business trend may deviate from the expectations, assumptions and estimates made by Jungheinrich company management. Factors that can lead to such deviations include changes in the economic and business environment, exchange and interest rate fluctuations, and the introduction of competing products.

Interim consolidated financial statements

Consolidated statement of income

2009 in million € Net sales 412.7 Cost of sales 304.2 Gross profit on sales 108.5 Selling expenses 94.9 Research and development costs 9.9 General administrative expenses 5.3 Other operating income and expenses – 1.2 Earnings before interest and taxes – 2.8 Financial income (loss) – 0.3 Earnings before taxes – 3.1 Income taxes 0.5 Net income (loss) – 3.6 Earnings per share (diluted/undiluted) in € – 0.11	Q1	Q1
		2008
		in million €
		490.6
		349.1
		141.5
		96.0
		10.3
		5.8
		0.2
		29.6
		0.4
		30.0
		11.9
		18.1
		0.53

Consolidated statement of comprehensive income

	Q1	Q1
	2009	2008
	in million €	in million €
Net income (loss)	– 3.6	18.1
Realized income (loss) from the measurement of derivative financial instruments	– 1.5	– 1.2
Unrealized income (loss) from the measurement of derivative financial instruments	– 1.8	2.5
Deferred taxes	0.4	–
Currency translation adjustment	– 2.2	6.9
Other income (loss)	– 5.1	8.2
Comprehensive net income (loss)	– 8.7	26.3

Consolidated balance sheet

Assets	03/31/2009	12/31/2008
	in million €	in million €
Non-current assets
Intangible and tangible assets	316.9	314.4
Trucks for short-term hire	178.6	200.0
Trucks for lease from financial services	190.9	187.2
Receivables from financial services	333.4	328.7
Financial and other non-current assets	20.8	21.6
Deferred tax assets	48.3	47.0
	1,088.9	1,098.9
Current assets
Inventories	262.4	246.9
Trade accounts receivable	316.2	385.3
Receivables from financial services	135.8	131.2
Other current assets	52.9	55.2
Liquid assets and securities	271.7	261.5
	1,039.0	1,080.1
	2,127.9	2,179.0
Shareholders' equity and liabilities
Shareholders' equity	616.3	625.0
Non-current liabilities Provisions for pensions and similar obligations	140.9	140.1
Financial liabilities	147.2	149.6
Liabilities from financial services	462.2	465.5
Deferred income	65.3	67.8
Other non-current liabilities	68.5	70.3
	884.1	893.3
Current liabilities
Other current provisions	113.0	107.8
Financial liabilities	125.1	135.0
Liabilities from financial services	182.0	177.7
Trade accounts payable	90.9	116.9
Deferred income	36.9	37.0
Other current liabilities	79.6	86.3
	627.5	660.7
	2,127.9	2,179.0

Consolidated statement of changes in shareholders' equity

	Subscribed capital	Capital reserve	Retained earnings	hensive income (loss)	Accumulated other compre	Total
				Currency translation adjustment	Derivative financial instruments
in million €
As of 01/01/2009	102.0	78.4	420.5	17.4	6.7	625.0
Comprehensive net income (loss) 01/01 - 03/31/2009	–	–	– 3.6	– 2.2	– 2.9	– 8.7
As of 03/31/2009	102.0	78.4	416.9	15.2	3.8	616.3
As of 01/01/2008	102.0	78.4	362.4	9.4	1.5	553.7
Comprehensive net income (loss)
01/01 - 03/31/2008	–	–	18.1	6.9	1.3	26.3
As of 03/31/2008	102.0	78.4	380.5	16.3	2.8	580.0

Consolidated statement of cash flows

	Q1	Q1
	2009 in million €	2008 in million €
Net income (loss)	– 3.6	18.1
Depreciation and amortization	40.3	37.0
Changes in provisions	5.9	8.8 1
Changes in trucks for short-term hire and trucks for lease (excl. depreciation)	– 11.3	– 38.8
Changes in deferred tax assets and liabilities	– 3.1	– 0.7
Changes in
Inventories	– 15.5	– 44.5
Trade accounts receivable	69.9	26.3
Receivables from financial services	– 9.3	– 8.2
Trade accounts payable	– 26.0	– 1
Liabilities from financial services	1.1	7.6
Liabilities from financing trucks for short-term hire	– 6.4	– 3.8
Other changes	– 13.6	15.6
Cash flows from operating activities	28.4	17.4
Payments for investments in tangible and intangible assets	– 15.5	– 10.0
Proceeds from the disposal of tangible and intangible assets	0.8	0.7
Proceeds from the sale of securities	16.9	–
Cash flows from investing activities	2.2	– 9.3
Changes in liabilities due to banks and financial loans	– 4.5	– 5.3
Cash flows from financing activities	– 4.5	– 5.3
Net cash changes in cash and cash equivalents	26.1	2.8
Change in cash and cash equivalents due to exchange rates	0.7	– 0.5
Changes in cash and cash equivalents	26.8	2.3
Cash and cash equivalents as of January 1	195.8	250.9
Cash and cash equivalents as of March 31	222.6	253.2

1 Prior-year figures (€15.5 million) were reclassified from changes in provisions to changes in trade accounts payable to ensure comparability of the change in the presentation of obligations relating to outstanding invoices.

Notes to the interim consolidated financial statements

Accounting and measurement methods

The consolidated financial statements of Jungheinrich AG as of December 31, 2008, were prepared in accordance with the International Financial Reporting Standards (IFRS) effective as of the balance sheet date. All standards and their interpretations of the International Financial Reporting Interpretations Committee (IFRIC) effective as of December 31, 2008 as endorsed by the EU, were taken into account. Accordingly, these interim consolidated financial statements as of March 31, 2009, were prepared in compliance with IAS 34. These interim consolidated financial statements were neither audited, nor subjected to, an auditlike examination.

The accounting and measurement methods applied in the interim financial statements as of March 31, 2009, and the determination of prior-year figures were generally in line with those applied in the consolidated financial statements as of December 31, 2008. These principles are described in detail in the notes to the consolidated financial statements in Jungheinrich's annual report for fiscal 2008. Changes in accounting and measurement methods of relevance to financial reporting for the first quarter of 2009 were mainly occasioned by the following new or revised standards, which became mandatory effective January 1, 2009:

The revised version of IAS 1 'Presentation of Financial Statements' has led to changes in the presentation of components of the financial statements. Jungheinrich expanded the disclosure in its consolidated financial statements by adding the statement of comprehensive income which is now required.

IFRS 8 'Operating Segments' replaced IAS 14 'Segment Reporting' as of January 1, 2009. Under IAS 14, the Jungheinrich Group was not required to prepare a segment reporting until December 31, 2008. Jungheinrich has introduced segment reporting since IFRS 8 has taken effect. The new reportable segments 'Material Handling Equipment' and 'Financial Services' will be presented in the report on the first half of 2009 for the first time, taking account of the first quarter of 2009.

Basis of consolidation

The basis of consolidation is unchanged compared with the consolidated financial statements as of December 31, 2008, and includes 43 foreign and 13 German companies. Three companies have been stated on the balance sheet through application of the equity method.

Related party disclosures

Jungheinrich AG's major ordinary shareholders are LJH-Holding GmbH and WJH-Holding GmbH, both of which are headquartered in Wohltorf (Germany).

In addition to the subsidiaries included in the consolidated financial statements, Jungheinrich AG has relations with joint ventures and associated companies. All business relations with these companies are maintained under arm's length conditions.

Members of the Board of Management and Supervisory Board of Jungheinrich AG are members of supervisory boards or comparable committees of other companies with which Jungheinrich AG has relations as part of its operating activities. All business transactions with these companies are carried out at arm's length conditions with third parties.

Hamburg, May 14, 2009

Jungheinrich Aktiengesellschaft The Board of Management

Hans-Georg Frey Dr. Volker Hues Dr. Helmut Limberg Dr. Klaus-Dieter Rosenbach

Jungheinrich Aktiengesellschaft Dates Am Stadtrand 35 E-mail: info@jungheinrich.com

Securities identification numbers: ISIN: DE0006219934, WKN: 621993

22047 Hamburg, Germany	2009 Annual General Meeting	June 9, 2009
Telephone: +49 40 6948-0	Dividend payment	June 10, 2009
Fax: +49 40 6948-1777	Interim report as of June 30, 2009	August 13, 2009
Internet: http://www.jungheinrich.com	Interim report as of September 30, 2009 November 12, 2009