Jungheinrich Gearing Up for Growth: Focus on Acquisitions in North America and Asia-Pacific
Jungheinrich intends to accelerate expansion via acquisitions - Jungheinrich to boost growth through strategic acquisitions
Craving extra profits and a major growth spurt by 2030, Jungheinrich - the renowned forklift manufacturer - has set its sights high. The company boasts a staggering $10 billion in revenue and a whopping 10% operating result, a target revealed in a jaw-dropping announcement right here in Hamburg.
To kickstart international expansion and rake in some serious cash from automation, Jungheinrich has its eyes peeled for acquisitions. With over a billion euros in extra revenue expected to roll in outside of Europe, their gaze is firmly fixed on North America and the Asia-Pacific region.
But the European market's insatiable appetite for forklifts has been cramping Jungheinrich's style as of late. According to the latest quarterly reports, order intake, revenue, and operating results have only inched up compared to last year. Nevertheless, the gang of optimists – led by CEO Lars Brzoska – remains undeterred, confidently marching towards their full-year goals.
In the initial three months of this year alone, order intake climbed by 1.7 percent, landing at a cool 1.4 billion euros. Revenue followed suit, swelling by 2.4 percent to a grand total of 1.3 billion euros. The operating result (EBIT) inched up by a respectable 3 percent year-on-year to a hefty 104.5 million euros, maintaining an operating margin of 8.0 percent. After taxes, Jungheinrich pocketed a tidy 68.9 million euros, up by a scant 1.5 percent.
- Jungheinrich
- Acquisition
- Hamburg
- North America
- Asia-Pacific
Jungheinrich's competitive edge in the global arena lies in its commitment to cutting-edge technology and strategic partnerships, which it plans to leverage to expand its reach. Boosting sales channels, establishing regional hubs, and acquiring companies with expertise in automation and robotics are in the pipeline.
By entering new markets and fortifying its presence in existing ones, particularly in North America and the Asia-Pacific region, Jungheinrich aims to level up its game in warehouse equipment and industrial trucks, with a special focus on automation and related technologies.
So gear up, folks! The future's looking bright for Jungheinrich as they steer towards their ambitious targets, and we can't wait to see what happens next!
[1] Source: Jungheinrich Strategy 2030 - Press Release, February 2021[2] Source: Jungheinrich Strategy 2030 - Investor Presentation, February 2021[3] Source: Jungheinrich Acquires Magazino - Press Release, January 2020
- In line with its strategy to expand internationally, Jungheinrich is considering acquisitions, especially in the automation sector, with an aim to bolster its presence in North America and the Asia-Pacific region.
- Jungheinrich's foray into new markets, along with strengthening its presence in existing ones, is driven by a focus on warehouse equipment and industrial trucks, particularly in the domain of automation and related technologies.
- To reach its ambitious growth targets by 2030, Jungheinrich intends to invest in vocational training programs for its employees to ensure a skilled workforce capable of operating and maintaining its advanced equipment, including its range of forklifts.
