DGAP-News JOST Werke AG: JOST starts strongly into fiscal year 2021
DGAP-News: JOST Werke AG / Key word(s): Quarter Results/Interim Report
JOST starts strongly into fiscal year 2021
- New sales record achieved: Sales increase by 34.2% to EUR 257.3 million (Q1 2020: EUR 191.8 million)
- Strong increase in operating result: Adjusted EBIT doubles to EUR 29.8 million (Q1 2020: EUR 14.7 million)
- Profitability improved: Adjusted EBIT margin up 3.9 percentage points to 11.6% (Q1 2020: 7.7%).
- Profit after tax grows significantly: Profit of EUR 18.9 million achieved (Q1 2020: EUR -4.1 million)
- Leverage ratio further reduced: Leverage decreases to 1.76x
- Outlook for 2021 confirmed: Sales and adjusted EBIT to increase by a low double-digit percentage rate compared to 2020 and adjusted EBIT margin to improve.
Neu-Isenburg, May 12, 2021. JOST Werke AG ("JOST"), a leading global producer and supplier of safety-critical systems for the commercial vehicle industry, published today its interim report for the first quarter of 2021.
Joachim Dürr, CEO of JOST Werke AG, said: "Worldwide, we are witnessing a high demand for our products. We managed to significantly increase sales and profit in the first quarter 2021 compared to the previous year. Especially China and the rest of the Asia-Pacific-Africa region provided a strong tailwind. Given the closeness to our customers and our high flexibility, JOST is well positioned to benefit from the positive market trends in transport and agriculture and will continue to grow profitably."
Strong sales and earnings growth in all regions
The strong growth momentum already felt by JOST at the end of 2020 continued into 2021. Demand for trucks, trailers and agricultural front loaders rose further during the first quarter 2021. As a result, despite the ongoing pandemic and related uncertainties, JOST was able to increase sales by 34.2% year-on-year to EUR 257.3 million in the first quarter 2021 (Q1 2020: EUR 191.8 million).