Börse Express – Jost Werke benefits from takeover of Alö

The commercial vehicle supplier Jost Werke
was able to clearly increase its sales despite the Corona crisis in 2020. Thanks to the takeover of the Swedish Alö Group, revenues increased by 7.9 percent to a good 794 million euros, such as in the SDax small cap index listed companies based on preliminary figures announced on Tuesday in Neu-Isenburg, Hesse. Jost Werke benefited from significantly increased demand in all regions in the final quarter. Without the acquisition of Alö, a manufacturer of agricultural front loaders, sales would have fallen by 14.5 percent compared to the previous year, it said.

Adjusted operating earnings before interest and taxes (adjusted EBIT) fell by almost 5 percent to a good 73 million euros, the corresponding margin fell by 1.2 percentage points to 9.2 percent. Here Jost Werke felt the consequences of the pandemic. In the fourth quarter, however, the company recorded a significant improvement in profitability and was able to increase its sales by almost half. CEO Joachim Dürr spoke of a difficult but ultimately successful year.

The company initially gave no information on the surplus, forecast or dividend. Jost Werke plans to announce its outlook for the current financial year 2021 when the final figures are presented on March 25th. Then the people of Neu-Isenburg want to comment on the dividend proposal for 2020. / eas / stw

 ISIN  DE000JST4000

AXC0085 2021-02-23/08:31

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