JOST Werke SE Adjusts 2024 Outlook Following Q3 Results

JOST Werke SE, a major producer of safety-critical systems for commercial vehicles, has announced its preliminary results for the third quarter of 2024. The company noted a 15.7% drop in group sales, hitting EUR 246.3 million, compared to EUR 292.0 million in the same quarter of 2023. This decline reflected the more pronounced summer seasonality in Europe and North America.

Despite the sales drop, JOST sustained a high profitability level with an adjusted EBIT margin of 10.8% for the quarter. The first nine months of 2024 showed a 12.6% sales reduction, with adjusted EBIT declining by 14.0% to EUR 94.9 million.

Given the cooled demand in Europe and North America, and a delayed agricultural market recovery, JOST revised its 2024 forecast. Sales are expected to decrease by around 15%, with adjusted EBIT margins narrowing to between 10.5% and 11.0%.