Germany · Delayed Price · Currency is EUR JOST Werke SE Earnings Call Transcripts
Fiscal Year 2025
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Strong 2025 growth was achieved through Hyva integration and organic gains, with sales up 44% and Adjusted EBIT up 29%. Despite weak markets, all regions contributed, and 2026 guidance targets further margin and earnings growth, with robust order intake and ongoing M&A focus.
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Q3 2025 saw strong sales and profit growth, driven by Hyva integration and organic gains across all regions, despite weak U.S. markets. Synergies and cash flow improved, leverage targets were met early, and guidance for 2025 is confirmed at the lower to mid range.
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Q2 2025 saw 31% sales growth driven by the Hyva acquisition, with strong performance in EMEA and APAC, and resilience despite US market weakness. The outlook for 2025 is confirmed, with expected sales up 40–50% and adjusted EBIT up 23–28% year-over-year.
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Q1 2025 saw a 25% sales increase and strong cash flow, driven by the Hyva acquisition and robust aftermarket demand, despite organic sales declines. Integration is on track, with EUR 27 million in synergies identified and full-year guidance confirmed.
Fiscal Year 2024
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Despite a challenging market, sales and EBIT declined but margins and cash flow remained strong, aided by M&A and cost control. The Hyva acquisition will drive significant growth and synergies in 2025, with markets expected to bottom out and a more balanced regional and product mix supporting resilience.
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Q3 2024 featured a challenging market with sales down 20% organically, but profitability and cash flow remained strong. The Hyva acquisition and operational consolidations position the company for future growth, with guidance unchanged and recovery expected in 2025.
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The acquisition of Hyva is set to expand the branded product portfolio, strengthen global market presence, and balance exposure between on- and off-highway sectors. Synergies in purchasing, logistics, and SG&A are expected to drive margin improvements and value creation within two years.
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Ambitious 2030 targets include over €2 billion in sales, €10 EPS, and a 10–12% EBIT margin, driven by equal parts organic and inorganic growth. Strategic focus is on expanding agriculture/off-highway, technology leadership, disciplined M&A, and operational excellence, with strong ESG and capital efficiency commitments.
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Two strategic acquisitions and a new plant in India will expand the agricultural business, adding €100 million in annual revenues and increasing the segment's share to 28-29% of total sales. The moves strengthen global market presence, diversify the product mix, and are expected to deliver significant synergies and profitable growth.
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Q2 2024 saw resilient profitability with an 11.3% EBIT margin despite a 10% sales decline, supported by strong North American margins and strategic R&D investment. Outlook for 2024 remains unchanged, with single-digit declines in sales and EBIT expected, and a recovery in ag markets anticipated for 2025.