Jungheinrich stock slips as nine-month orders rise, targets reset

Jungheinrich reported stronger incoming orders but only modest revenue growth for the first nine months of 2026 in a release published on Tuesday, November 10. The company kept its 2026 forecast unchanged while lowering its medium-term ambitions.

According to the Jungheinrich release, incoming orders reached 4.323 billion euros, up 6.0 percent year over year. Revenue increased 1.5 percent to 4.068 billion euros, while EBIT rose to 241.8 million euros and the reported EBIT margin reached 5.9 percent.

Automation offsets core pressure

Industrial Trucks and Services lifted incoming orders 3.5 percent to 3.531 billion euros, but revenue declined 1.8 percent to 3.388 billion euros. Automation and Warehouse Equipment delivered the stronger contribution, with orders up 19.9 percent to 878 million euros and revenue up 16.6 percent to 751 million euros.

Negative one-off effects of 36.5 million euros affected the nine-month result. They included 20.5 million euros from the sale of the Russian subsidiary, 8.6 million euros related to the Lueneburg plant strike and 7.4 million euros for the transformation program. Excluding these effects, EBIT would have been 278.3 million euros, with a 6.8 percent margin.

2026 outlook remains intact

Jungheinrich continues to expect 2026 incoming orders of 5.5 billion to 6.1 billion euros, revenue of 5.3 billion to 5.9 billion euros and EBIT of 340 million to 400 million euros. The forecast includes 40 million euros of negative one-off effects.

The group now targets 2030 revenue of 7 billion to 8 billion euros and an EBIT return on sales of 8 percent to 9 percent. Jungheinrich cited geopolitical tensions, weak growth in its European core markets and structural shifts in material handling equipment. Artificial intelligence is now a fifth strategic field of action.

Share price and investor view

Jungheinrich stock traded at 22.74 euros on Lang & Schwarz at 17:08 CET on Thursday, November 12, 0.26 percent below the Xetra close of Wednesday, November 11 at 22.80 euros. The quote was just over 1.00 percent below the 22.97 euros cited at 12:21 CET in the latest report on the same day; this separate comparison qualifies the new edition under its publication rules.

The unchanged 2026 forecast offers near-term visibility, but the lower 2030 targets raise the importance of execution, automation growth and margin recovery.

German equities provide the broader market setting; investors can follow the DAX for the domestic benchmark.

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