DGAP-News JOST Werke AG: JOST expects significant profitable growth in 2021 fiscal year
DGAP-News: JOST Werke AG / Key word(s): Annual Results/Forecast
JOST expects significant profitable growth in 2021 fiscal year
- Financial targets reached: JOST brings the 2020 fiscal year to a successful close
- Ålö acquisition supports growth: Sales up 7.9% to EUR 794.4 million (2019: EUR 736.4 million)
- High profitability and resilient business model: Adjusted EBIT reaches EUR 73.2 million (2019: EUR 76.8 million) with an adjusted EBIT margin of 9.2% despite coronavirus pandemic (2019: 10.4%).
- Strong cash generation: Free cash flow rises to EUR +98.1 million (2019: EUR +59.9 million), while leverage falls below 2.0x in the year of the Ålö acquisition
- Significant profitable growth planned for 2021: Sales and adjusted EBIT expected to rise by low double-digit percentage compared to 2020 and adjusted EBIT margin is expected to increase.
- Dividend payout ratio raised to 77.2% on a one-off basis: Executive Board proposes a dividend of EUR 1.00 per share (2019: 0).
- Focus on energy efficiency and carbon footprint: JOST is aiming to cut its carbon emissions per production hour by 50% by 2030.
Neu-Isenburg, March 25, 2021 JOST Werke AG ("JOST"), a leading global producer and supplier of safety-critical systems for the commercial vehicle industry, confirmed the preliminary results published on February 23, 2021 at today's presentation of its annual financial statements.
Joachim Dürr, (CEO) of JOST Werke AG, said: "2020 was a challenging year but ultimately a successful one, so we are quite happy with JOST's development. Amid this difficult environment, we quickly took the necessary actions, consistently served our customers and launched important product innovations. Our aim now is to proactively seize growth opportunities in the agricultural sector in Asia and Latin America and leverage our local sales strengths to open up these markets. We will also use the cyclical recovery in the transport market to introduce new products and further strengthen our market position. At the same time, it is important to us that we are able to support our customers in becoming more sustainable. Thus, we want to reduce our global carbon emissions per production hour by 50% by 2030 and decisively improve our environmental footprint."