JOST Werke SE Announces Record Results for Fiscal Year 2023

JOST Werke SE, a global leader in manufacturing and supplying critical safety systems in the commercial vehicle industry, has released its unaudited preliminary results for the fiscal year 2023. The company recorded a 14% growth in adjusted EBIT, reaching €141 million, and a record adjusted EBIT margin of 11.3%.

Despite a slight decrease in annual sales, from €1,264.6 million in 2022 to €1,249.7 million in 2023, JOST exceeded expectations with robust growth in the transportation sector, offsetting weak demand in the agricultural sector. The company also benefited from the integration of new strategic acquisitions.

In Europe and North America, despite distinct challenges, JOST managed to increase its adjusted EBIT, highlighting significant ability to adapt to changing market conditions. The Asia-Pacific-Africa sector also experienced notable growth, contributing positively to the company's overall results.

A notable aspect of the year was the completion of the deferred payment for the acquisition of the Ålö Group, amounting to €20.2 million. Furthermore, JOST achieved a record free cash flow of over €112 million, enabling the company to improve its net debt and leverage ratio.

The final audited results for the fiscal year 2023 will be published on March 26, 2024, including additional details on the dividend proposal and outlook for the fiscal year 2024.