Jungheinrich – No Recovery in Sight

The Intralogistics Sector is Suffering from Several Factors

Jungheinrich AG, is struggling with the consequences of the Ukraine war, high energy prices, and supply chain problems. The company’s sales revenues in the past year amounted to 4.6 billion euros, only slightly below the previous year´s level (4.7 billion euros). However, the operating result (EBIT) declined by 17.6 percent to 265 million euros (previous year: 321 million euros), influenced by considerable expenses for material procurement and logistics.

The war in Ukraine has led to a sharp decline in demand in Eastern Europe, and supply chain problems have made it difficult to get the necessary components for Jungheinrich’s products. The company has also been hit hard by the sharp rise in energy prices, which has increased its production costs. As a result of these factors, Jungheinrich does not expect any significant improvement in its business situation in the coming months.

Jungheinrich Plans Job Cuts

To cope with the difficult situation, Jungheinrich is planning to cut jobs. The company has not yet announced how many jobs will be affected, but it is expected that the cuts will be made in all areas of the company. Jungheinrich is also planning to reduce its production capacity and close some of its factories.

The job cuts are a bitter blow for Jungheinrich employees, but they are necessary to ensure the company’s survival. The company is facing a difficult situation, but it is taking the necessary steps to overcome the challenges.