ANNUAL GROUP REPORT 2023
#creatingconnections
THE JOST WAY
CONTENT
- JOST Facts & Figures 2023
4 JOST at a glance
5 Strong solutions
6 Strong brands
- Sustainability
- Sustainability at JOST
- Climate and the environment
- People and corporate culture
- Occupational health and safety
- Diversity, equality and integration
- Compliance
- JOST's contribution to sustainability
- Consolidated financial statements
-
Consolidated income statement
- by function of expenses - Consolidated statement of
comprehensive income
88 | Consolidated balance sheet |
89 | Consolidated statement of |
38 Combined | ||||
10 | Global customer proximity | |||
11 | Committed and skilled people | management report | ||
12 | Strong flexibility and resilience | 39 | Fundamental information about the group | |
13 | The JOST Way for profitable growth | |||
44 | Report on economic position 2023 | |||
58 | Report on opportunities and risks | |||
68 | Report on expected developments | |||
70 | JOST Werke AG | |||
166 To our shareholders | ||||
72 | (HGB - German Commercial Code) | |||
17 | Interview with the Executive Board | Corporate Governance | ||
20 | Report of the Supervisory Board | |||
27 | Members of the Supervisory Board | |||
29 | Equity markets and share price performance |
changes in equity |
- Condensed consolidated cash flow statement
- Notes to the consolidated financial statements
160 Further information
- Responsibility statement
- Independentauditor's report
- Financial calendar and publishing information
- I JOST Werke SE I Annual Group Report 2023
About JOST | To our shareholders | Sustainability | Combined management report | Consolidated financial statements | Further information |
ABOUT
JOST
- I JOST Werke SE I Annual Group Report 2023
About JOST | To our shareholders | Sustainability | Combined management report | Consolidated financial statements | Further information |
JOST Facts & Figures 2023
JOST FACTS & FIGURES 2023 | - 19% | ||
1,250€ | million | CO2 emission reduction | |
per production hour | |||
million | 141 € | ||
sales | |||
adjusted EBIT | 2 | ||
Strategic | |||
takeovers | |||
24 | 6.24€ | ||
sites | |||
production | |||
adjusted | |||
EBIT per | |||
0.998 x | share | ||
11.3 % | 37% | ||
leverage ratio | |||
Share | |||
4,500 | adjusted | of renewable | |
EBIT margin | electricity mix | ||
63 | energies in | ||
employees | |||
patent applications |
- I JOST Werke SE I Annual Group Report 2023
Sustainability | Combined management report | Consolidated financial statements | Further information | ||||
JOST at a Glance |
JOST AT A GLANCE
Selected key figures | |||
in € million | 2023 | 2022 | |
Consolidated sales | 1,249.7 | 1.264.6 | |
thereof: Sales, Europe | 687.8 | 695.5 | |
thereof: Sales, North America | 354.2 | 396.3 | |
thereof: Sales, Asia-Pacific-Africa (APA) | 207.6 | 172.8 | |
Adjusted EBITDA¹ | 173.1 | 154.5 | |
Adj. EBITDA margin (%) | 13.9% | 12.2% | |
Adjusted EBIT¹ | 140.8 | 123.8 | |
Adj. EBIT margin (%) | 11.3% | 9.8% | |
Equity ratio (%) | 38.0% | 35.9% | |
Net debt² | 180.7 | 197.4 | |
Leverage³ | 0.998 x | 1.278 x | |
Liquid assets | 87.7 | 80.7 | |
Capex⁴ | 30.8 | 32.3 | |
ROCE (%)⁵ | 21.0% | 18.2% | |
Net working capital (in %)⁶ | 18.0% | 19.0% | |
Free cash flow⁷ | 112.3 | 23.7 | |
Cash conversion rate8 | 1.2 | 0.3 | |
Profit after taxes | 52.3 | 59.8 | |
Earnings per share (in €) | 3.51 | 4.02 | |
Proposed dividend (€ per share) | 1.50 | 1.40 | |
Adjusted profit after taxes⁹ | 93.0 | 85.9 | |
Adjusted earnings per share (in €)¹⁰ | 6.24 | 5.76 | |
Change
- 1.2%
- 1.1%
- 10.6%
20.2%
12.0%
160.0%
13.7%
1.5%-points
2.1%-points
- 8.5%
-18.3%
8.7%
- 4.6%
2.8%-points
-1.0%-points
373.8%
337.5%
- 12.6%
- 12.7%
7.1%
8.3%
8.3%
Organic sales development
2023, in € million
1,265 | 26 | - 42 | 1 | 1,250 | |
Acquisition | FX | Orga- | |||
effects | translation | nic | |||
effects | |||||
Sales revenues | Sales revenues | ||||
2022 | 2023 |
Employess by function
Average 2023 (2022)
370 (309) | 2,802 (2,381) |
164 (152) | ||
Total | ||
656 | (674) | 3,992 |
(3,602) | ||
Production (70 %)
Sales (16 %)
R&D (4 %) Administration (9 %)
Regional sales by destination
2023 (2022), in € million
265.4 (258.0) | 591.0 (585.2) |
Total | |
393.3 | 1,249.7 |
(1,264.6) | |
(421.4) |
Europa 47% (46%)
North and South America 31% (33%)
APA 21% (21%)
Regional sales by origin
2023 (2022), in € million
207.6 (172.8) | 687.8 (695.5) |
Gesamt | |
354.2 | 1,249.7 |
(396.3) | (1,264.6) |
Europe 55% (55%)
North America 28% (31%) APA 17% (14%)
1 Adjustments for PPA effects and exceptionals
² Interest bearing loans (excl. accrued financing costs) - liquid assets
- Net debt / LTM adj. EBITDA (incl. acquisitions)
- Gross presentation (capex; without taking into account divestments)
-
LTM adj. EBIT (incl. acquisitions) / interest-bearing capital employed; interest-bearing capital:
shareholders� equity + financial liabilities (except for refinancing costs) - liquid assets + provisions for pensions - Net Working Capital /LTM sales (incl. acquisitions)
- Cash flow from operating activities - capex
- Free cash flow / adjusted profit after taxes
- Profit after taxes adjusted for exceptionals in accordance with note 8
Adjusted profit after taxes / 14,900,000 (number of shares as of December 31)
Sales by application
2023, in %
21 | 41 |
38
Trailer
Truck Tractor
Sales by customer type
2023, in %
27 | 73 |
Aftermarket (AM) and Trading Original Equipment (OE)
- I JOST Werke SE I Annual Group Report 2023
To our shareholders | Sustainability | Combined management report | Consolidated financial statements | Further information | |||
Strong brands |
STRONG BRANDS FOR TRANSPORT AND AGRICULTURE
Transport | Agriculture |
Products for trucks and trailers
The JOST core brand offers traditional products for truck and trailer manufacturers, including fifth wheel couplings and landing gears as well as container equipment and axle systems. Based on these proven core products, we have developed systems that automate, control and monitor activities that previously had to be carried out manually. Sensor-controlled solutions make these operations not only easier and safer but also more efficient.
Steering systems and axle suspensions
Over the years, TRIDEC systems have been used for a wide range of applications on all kinds of terrain and in all conceivable weather conditions. They are designed and built for reliability and quick and easy maintenance. There are currently over 50,000 TRIDEC systems on the world's roads. TRIDEC has been part of JOST since 2008.
Products for commercial vehicles, agriculture and forestry
Regularly voted the "best towing hitches brand" by end-customers, the established ROCKINGER brand offers a broad range of reliable, high-quality products including standard towing hitches and sensor- and remote-controlledcomfort-couplings. As well as products for road use, the ROCKINGER production portfolio includes towing hitches for agriculture and forestry. ROCKINGER has been part of the JOST World since 2001.
Front loaders and implements
Ålö has been developing and manufacturing high-quality front loaders and implements under the Quicke brand since 1949. Quicke has earned a reputation as an innovator and is recognized as one of the driving forces behind the modernization and digita-lization of the agricultural industry. With a motto that urges customers to "work smarter, not harder", and products designed to make applications easier and more efficient for users, Quicke is well on its way to becoming a one-stop manufacturer of front loaders and associated implements. Quicke has been part of the JOST World since 2020.
www.jost-world.com | www.tridec.com | www.rockinger-agriculture.de | www.quicke.uk.com |
- I JOST Werke SE I Annual Group Report 2023
To our shareholders | Sustainability | Combined management report | Consolidated financial statements | |||
Strong solutions |
Further information
STRONG
SOLUTIONS
Our portfolio of strong brands comprises an extensive range of systems and components for the transport and agriculture industry
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TRANSPORT
1 | Fifth wheel couplings | 8 Steering systems | AGRICULTURE | |||||
2 | King pins | 9 Axle suspensions | ||||||
3 Landing gears | 12 | Front loader | 17 Towing systems | 20 Axle suspensions | ||||
4 Truck and trailer axles | ||||||||
13 | Implements | 18 Drawbars and towing eyes | ||||||
5 | Hubodometers | 10 Towing hitches | ||||||
14 | Cabins | 19 Three-point linkage | ||||||
11 | Drawbars and towing eyes | 21 | Ball bearing | |||||
6 | Ball bearing turntables | |||||||
15 | Counterweight | turntables | ||||||
7 Container technology | ||||||||
16 Centerboom
- I JOST Werke SE I Annual Group Report 2023
To our shareholders | Sustainability | Combined management report | Consolidated financial statements | Further information | ||
The JOST Way |
THE JOST
WAY
9 Quality, safety & reliability
10 Global customer proximity
11 Committed and skilled people
12 Strong flexibility and resilience
13 The JOST Way for profitable growth
- I JOST Werke SE I Annual Group Report 2023
To our shareholders | Sustainability | Combined management report | Consolidated financial statements | Further information |
#creatingconnections
THE JOST | x ≥ max | ||||
WAY | { | ||||
#creatingconnections | QUALITY, SAFETY & | ||||
Over 70 years JOST has grown by | |||||
RELIABILITY | |||||
improving and diversifying its products | : = | GLOBAL CUSTOMER | |||
portfolio, developing new markets, and | |||||
PROXIMITY | |||||
making strategic acquisitions to bolster | |||||
its core strengths. | COMMITTED AND | ||||
The success of JOST is grounded in the | SKILLED PEOPLE | ||||
quality of our products, | our global | STRONG FLEXIBILITY AND | |||
customer | proximity, the commitment | { | RESILIENCE | ||
of our people and the strong flexibility | |||||
of our business model. |
- I JOST Werke SE I Annual Group Report 2023
To our shareholders | Sustainability | Combined management report | Consolidated financial statements | Further information | |||
#creatingconnections |
#creatingconnections
QUALITY, SAFETY &
RELIABILITY
As a brand, JOST is a promise of top-notch products, quality and safety for its customers.
The stability and reliability of our products make the difference. In a changing world with sharply rising uncertainty, challenging supply chains, labor shortage and environmental challenges our customers and partners know they can trust and rely on JOST.
We have proven it:
- High customer loyalty: over 40 years of average customer relationships.
- High customer satisfaction leading to high global market shares in all core products.
#1 SUPPLIER FOR FIFTH WHEELS, LANDING GEARS AND FRONT LOADERS WORLDWIDE
- I JOST Werke SE I Annual Group Report 2023
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Disclaimer
JOST Werke AG published this content on 28 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 April 2024 15:54:02 UTC.