JOST Werke AG / Key word(s): Change in Forecast/Preliminary Results
JOST raises its forecast for the 2017 fiscal year
Neu-Isenburg, 23 October 2017. JOST Werke AG ("JOST"), a leading global producer and supplier of safety-critical systems to the truck and trailer industry, publishes preliminary and unaudited results for the third quarter 2017 and raises its forecast for sales and adjusted EBIT for the 2017 fiscal year.
In the third quarter of 2017, JOST's total sales grew by 15% to EUR 171.5 million compared to the same period of the previous year (Q3 2016: EUR 149.4 million). Main growth driver was a stronger than anticipated increase in sales in the Asia, Pacific and Africa (APA) segment as high demand in China continued uninterrupted and sales in other markets in the region grew stronger than expected. In line with this development, JOST's total sales in the first nine months of 2017 grew by 9% to EUR 533.3 million (9M 2016: EUR 487.0 million).
Earnings before interest and taxes (EBIT), adjusted for exceptional items and PPA effects, also increased significantly by 38% to EUR 19.5 million in the third quarter compared to the previous year (Q3 2016: EUR 14.1 million). Likewise, in the first nine months, adjusted EBIT rose by 24% to EUR 63.8 million (9M 2016: EUR 51.5 million). This positive result is mostly due to further efficiency improvements and the strong growth in the APA segment's Q3 sales at favorable margins.
Based on this performance, and taking into account the expected development for the remaining months of 2017, JOST now expects fiscal year 2017 sales to grow at a high-single digit rate (previous forecast: mid-single digit growth rate) and adjusted EBIT to grow at a moderate-double digit rate (previous forecast: high-single digit growth rate), compared to the fiscal year 2016.
|Company:||JOST Werke AG|
|Phone:||+49 6102 2950|
|Fax:||+49 (0)6102 295-298|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange|
|End of Announcement||DGAP News Service|