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JOST Werke AG / Key word(s): Forecast/Change in Forecast
JOST raises guidance for sales and earnings for fiscal year 2020
- Sales in 2020 to grow in a single-digit percentage range compared to previous year (previous outlook: decline in a single-digit percentage range)
- Adjusted EBIT margin in 2020 expected to be higher than 8.5% (previous outlook: adjusted EBIT margin higher than 7.0%)
- Adjusted EBITDA margin in 2020 expected to be higher than 12.0% (previous outlook: adjusted EBITDA margin higher than 10.0%)
The markets for transport and agricultural commercial vehicles continued to improve during the fourth quarter of 2020. Following the pandemic-related market contraction in the first half of 2020, JOST is currently recording a steady increase in demand for JOST's systems for trucks, trailers and agricultural tractors worldwide. Against this background, and additionally supported by the acquisition of the Ålö Group, the Executive Board now expects sales in the fiscal year 2020 to grow by a single-digit percentage rate compared to the previous year (sales 2019: EUR 736.7 million). Previously, JOST had been expecting a single-digit percentage decline in sales in 2020.
As a result of the higher capacity utilization in all its production plants, JOST has been able to further improve its profitability during the fourth quarter of 2020 and now expects the adjusted EBIT margin to increase compared to the first nine months of 2020. The Executive Board now forecasts an adjusted EBIT margin higher than 8.5% for fiscal year 2020 (previous outlook: adjusted EBIT margin in 2020 higher than 7.0%).
The adjusted EBITDA margin for 2020 is also expected to be better than 12.0% and thus higher than originally anticipated (previous outlook: adjusted EBITDA margin in 2020 higher than 10.0%).
This forecast is based on the assumption that there will be no further pandemic-related plant shutdowns at JOST or at key JOST customers in the remaining weeks of fiscal year 2020.
09-Dec-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
JOST Werke AG
+49 6102 2950
+49 (0)6102 295-298
Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange
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