Jungheinrich acquires MIAS Group in further boost to automated systems business; reports buoyant Q2


The Jungheinrich Group has announced its acquisition of the German-owned MIAS Group. MIAS is well known for its range of stacker cranes, automated pallet handlers and sophisticated materials handling technology and employs over 300 staff based at five locations in Germany, Hungary, China, the USA and Italy. 

While the group will be integrated into Jungheinrich’s Logistics Systems Division, it will continue to offer its products independently under the MIAS brand name. In the 2014 financial year, the group generated net sales of €40m (US$45m) and its acquisition is further evidence of Jungheinrich’s determination to further expand its logistics systems business.

Steve Richmond, Director of Jungheinrich UK’s Systems and Projects Division, commented, “By acquiring the MIAS Group, Jungheinrich is enlarging its technology portfolio in the field of automated warehouse solutions. In such a competitive global arena, this acquisition further expands the already extensive range of automated intralogistics solutions Junghenirch is able to supply and support around the world.”

Jungheinrich has also announced impressive sales figures for the second quarter of 2015. Net sales were up 13%, while orders grew by 9%. The Group’s earnings before interest and taxes (EBIT) and net income were both up 21% than in the corresponding period last year. The figures build on strong first quarter results and mean that, in the first six months of 2015, the Group’s EBIT and net income rose by 14 and 15%, respectively.

In light of the positive numbers, Hans-Georg Frey, chairman of the board of management, Jungheinrich, has announced that the Group has revised its income forecast for the year upwards. “Based on the economic prognoses, which are positive overall, and in light of our persistently good order books, we are raising our forecast for 2015,” he commented.

“Incoming orders are now expected to total between €2.7-€2.8bn (US$3.1-US$3.2bn). Consolidated net sales should amount to between €2.65-€2.75bn (US$2.99-US$3.10bn). Our assessment is that EBIT will amount to between €195-€205m (US$220-US$231m). We anticipate that income before tax will be between €180-€190m (US$203-US$214m).”

In the first half of 2015, global demand for material handling equipment advanced by 3% to 574,100 trucks. Europe – Jungheinrich’s main sales territory – recorded 9% growth. Demand in Western Europe climbed by 13%, whereas market volume in Eastern Europe declined by 14% – largely due to the shrinking Russian market. Excluding Russia, the Eastern European market posted 8% growth. Asia’s market contracted by 3%, primarily due to the drop in demand for IC engine-powered counterbalanced trucks in China. Excluding China, the Asian market grew 8%. Demand in North America increased by 11%.

To keep pace with its revised growth targets, Jungheinrich’s workforce is expanding. On June 30, 2015, a total of 12,978 people were on the Group’s payroll – an increase of over 400 people in six months.

August 27, 2015

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Tom Stone is Editor of the iVT brand – which includes digital and print editions of a quarterly magazine and the Advanced Lift-truck supplement, as well as ivtinternational.com, which is updated daily. Tom has met and interviewed some of the world's leading industrial vehicle OEM presidents, CEOs and MDs, and takes great pride in cementing iVT's place as the leading forum for debate within the industry, a reputation that his been built up over the brand's 25-year history.

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