Jungheinrich AG will pour huge investments into the “markets of the future” – Eastern Europe and Asia - the Hamburg-based manufacturer says in a press statement boasting its recent double-digit growth.
For the first four months of 2007, the company’s net sales grew 21% from EUR505 million (USD671.4 million) last year to EUR612 million (USD813.7 million). Incoming orders rose 10%, from EUR610 million (USD811.0 million) to EUR659 million (USD8761 million).
Hans-Georg Frey, board of management chairman, says the company is confident of growth continuing for fiscal 2007.
“Incoming orders could rise to about EUR1.95 billion (USD2.59 billion). We expect net sales to total over EUR1.9 billion (USD2.53 billion), which represents 9% growth.”
Jungheinrich predicts the global forklift market to grow 6% to 910,000 trucks this year. Russia and China are expected to be the main drivers of the growth.
“Booming markets in Eastern Europe, with Russia leading the way, and in Asia, with China as the foremost engine, will drive the growth. [We] are well positioned in those regions with proprietary sales companies and will invest heavily in these markets of the future,” the statement says.
When contacted by Forkliftaction.com News, Jungheinrich’s corporate communications head, Markus Piazza, declined to elaborate on the investment plans for the growth markets.
The company presented a draft resolution to increase shareholder dividends by EUR0.03 (USD0.04) to EUR0.48 (USD0.64) per ordinary share and to EUR0.54 (USD0.72) per preferred share at its annual general meeting last Tuesday.