JOST increases adjusted earnings from continuing operations in 2025 and proposes a dividend of EUR 1.50 per share

JOST increases adjusted earnings from continuing operations in 2025 and proposes a dividend of EUR 1.50 per share 

• JOST confirms preliminary results: JOST clearly achieves its outlook for revenue and earnings growth as well as its other financial targets for fiscal year 2025
• Adjusted earnings after taxes increases: Adjusted earnings after taxes grew by 12.1% to EUR 83.5 million (2024: EUR 74.5 million).
• Adjusted earnings per share higher: Adjusted earnings per share rose by 10.5% to EUR 5.52 (2024: EUR 5.00)
• Dividend proposal: Dividend payout increased by 10.0% to EUR 24.6 million (2024: EUR 22.4 million). Dividend proposal stable at EUR 1.50 per share (2024: EUR 1.50).
• JOST forecasts further profitable growth for 2026: Group revenue is expected to increase by a single-digit percentage in 2026 compared to 2025 (2025: EUR 1,534.2 million). Adjusted EBIT should grow at a faster pace than revenue, up by a mid-to-high single-digit percentage compared to 2025. The adjusted EBIT margin should exceed the previous year’s level in 2026, supported by further synergies from the Hyva integration (2025: 9.5%).

Neu-Isenburg, March 26, 2026. JOST Werke SE (“JOST”), one of the world’s leading manufacturers and suppliers of safety- and mission-critical systems for the on- and off-highway commercial vehicle industry, today confirmed the preliminary results for the 2025 fiscal year published on February 19, 2026, as part of its financial results presentation.

Joachim Dürr, CEO of JOST Werke SE, says: “2025 was an exceptionally volatile year, marked by significant global economic challenges, which we navigated successfully. Despite the demanding market environment, we executed the integration of Hyva efficiently and completed the planned carve-out of Hyva’s Cranes business both swiftly and seamlessly. At the same time, we realized some of the identified synergies earlier than anticipated. The world around us shows that volatility and uncertainty have become the new normal. Possessing the necessary strength and resilience to act quickly and successfully in such an environment is a key competitive advantage. The acquisition of Hyva was an important milestone for our AMBITION 2030 strategy. Now the focus is on consistently leveraging this potential to further advance our growth strategy in fiscal year 2026.”

Outlook for revenue and earnings growth for fiscal year 2025 achieved

JOST increased consolidated revenue from continuing operations by 43.5% to EUR 1,534.2 million in fiscal year 2025 (outlook revenue growth: 40% to 50% vs. 2024: EUR 1,069.4 million). This includes acquisition effects from the consolidation of the continuing operations of the Hyva Group from February to December 2025 in the amount of EUR 468.0 million. On the other hand, negative currency effects reduced growth by 2.0 percentage points. Adjusted for acquisition and currency effects, JOST was able to increase consolidated organic revenue in 2025 by 1.7% year-on-year despite the challenging market environment.

Adjusted EBITDA from continuing operations rose by 29.1% to EUR 191.2 million in 2025 compared with the previous year (outlook adj. EBITDA growth: 23% to 28% vs. 2024: EUR 148.1 million). Adjusted EBIT from continuing operations increased by 28.6% to EUR 145.2 million year-on-year (outlook adj. EBIT growth: 23% to 28% vs. 2024: EUR 113.0 million). JOST has thus met or slightly exceeded its outlook for fiscal year 2025. The adjusted EBIT margin reached 9.5% in 2025 (2024: 10.6%). JOST also managed to achieve a steady increase in Hyva’s profitability over the course of the year, driven by the ramp-up of initial synergies from the integration. As a result, Hyva generated an adjusted EBIT margin of more than 8.5% in fiscal year 2025 (2024, prior to the acquisition: 5.6%).

Earnings after taxes

The financial result decreased significantly in 2025 by EUR 32.0 million to EUR -36.0 million (2024: EUR -4.0 million). A major reason for this was a one-off positive exceptional of EUR 14.3 million in the previous year related to the very strong performance of the US dollar derivatives, which were entered into in October 2024 to secure the purchase price of Hyva. Another reason for the reduction in 2025 is the EUR 14.3 million increase in interest expense, primarily due to higher financial liabilities to banks and credit institutions for financing the Hyva acquisition. Furthermore, the previously announced appreciation of a put option acquired along with Hyva Group also reduced the financial result. The obligation relates to the acquisition of the remaining 25% minority interest in the Hyva Group’s recycling business in South America, which performed better than originally anticipated in fiscal year 2025.

Income tax expenses also rose sharply in 2025, influenced by the Hyva consolidation. Another reason for the increase is a one-time, non-cash deferred tax expense of EUR 12.3 million, which is primarily attributable to planned restructuring measures in EMEA aimed at securing sustainable profitability in the region. In total, income tax expenses rose to EUR 29.3 million in 2025 (2024: EUR 10.3 million).

As a result of the increased financial and tax expenses, reported earnings after taxes from continuing operations amounted to EUR 9.4 million in fiscal year 2025 (2024: EUR 52.6 million).

Adjusted earnings after taxes from continuing operations improved by 12.1% to EUR 83.5 million in fiscal year 2025 (2024: EUR 74.5 million). Of this amount, EUR 82.3 million is attributable to the shareholders of JOST Werke SE. Based on the 14.9 million shares outstanding as of the balance sheet date, this corresponds to an increase in adjusted earnings per share from continuing operations of 10.5% to EUR 5.52 (2024: EUR 5.00). 

Dividend proposal

The Executive Board and Supervisory Board have decided to increase the dividend payout for the 2025 fiscal year by 10.0% to EUR 24.6 million (2024: EUR 22.4 million). In doing so, JOST aims to allow shareholders to participate in the successful 2025 fiscal year, as the adjusted earnings after taxes from continuing operations attributable to the shareholders of JOST Werke SE rose by 10.5%. As a result, the payout ratio for the 2025 fiscal year remains stable at 30% at the upper end of the announced payout range (2024: 30%). Based on the currently outstanding number of 16.39 million dividend-eligible shares, this corresponds to a proposed dividend of EUR 1.50 per share (2024: EUR 1.50).

Robust financial position and strong balance sheet provide an excellent foundation for further growth

Free cash flow rose by 6.0% to EUR 126.4 million in 2025, reaching a new record level (2024: EUR 119.2 million). The cash conversion rate (ratio of free cash flow to adjusted earnings after taxes) was 1.5 (2024: 1.6) and remains well above the strategic target of 1.0. 

Driven by the first-time consolidation of Hyva and in line with the increase in revenue, working capital rose by 42.0% to EUR 233.1 million in fiscal year 2025 (2024: EUR 164.2 million). The ratio of working capital to revenue for the last twelve months improved to 14.8% (2024: 15.3%) and is once again well below the 18.5% mark.

Primarily driven by the debt financing of the Hyva acquisition, net debt (excluding IFRS 16 liabilities) increased by EUR 304.1 million to EUR 441.6 million as of December 31, 2025 (December 31, 2024: EUR 137.5 million). Therefore, the leverage ratio (ratio of net debt to adjusted EBITDA) increased to 2.27x (December 31, 2024: 0.93x).  JOST has clearly achieved its goal of rapidly reducing the leverage ratio back below the 2.5x EBITDA mark in the same year of the acquisition of Hyva.

Oliver Gantzert, CFO of JOST Werke SE, says: “2026 will be a year in which we will once again have to demonstrate our adaptability and resilience. We will continue to work on achieving the remaining synergies from the Hyva acquisition to further improve our profitability. Our goal remains to further and sustainably increase JOST’s enterprise value and the adjusted earnings per share for our shareholders, consistently working to fulfill our AMBITION 2030 financial targets.”

JOST sets new CO₂ reduction targets per production hour through 2035

Last year, JOST achieved its long-term goal of reducing its CO₂ emissions per production hour (Scope 1 & 2) by half compared to the 2020 baseline year, doing so six years ahead of schedule. We took this as an incentive to set new CO₂ emission reduction targets together with Hyva. By 2035, JOST now aims to reduce CO₂ emissions per production hour (Scope 1 & 2) by an additional 50% compared to 2025. With this, JOST seeks to make its production even more sustainable and support customers on their path to climate neutrality.

The integration of Hyva has altered the Group’s CO₂ footprint in fiscal year 2025. Total gross greenhouse gas emissions (Scope 1 & 2) increased by 55.4% in 2025 to 38,487 t CO₂e (2024: 24,758 t CO₂e). Adjusted for the acquisition effect, JOST was able to reduce its CO₂ absolute emissions (Scope 1 & 2) in 2025 by 0.5% year-on-year. The Group’s CO₂ emissions per production hour (Scope 1 & 2) grew by 5.5% to 2.76 kg CO₂e (2024: 2.62 kg CO₂e per production hour). This figure represents the new baseline against which JOST’s new reduction target by 2035 will be measured.

Outlook for fiscal year 2026

For the 2026 fiscal year, JOST expects Group revenue to increase by a single-digit percentage compared to 2025 (2025: EUR 1,534.2 million). Adjusted EBIT in 2026 is expected to grow at a faster rate than revenue, in the mid-to-high single-digit percentage range compared to 2025. As a result, the adjusted EBIT margin, supported by the realization of further synergies from the Hyva integration, will improve in 2026 compared to the previous year (2025: 9.5%).

It should be noted that the current conflict with Iran increases the uncertainty regarding the global economic outlook, particularly due to the risk of persistently higher energy prices. The potential indirect effects on the global economy, global supply chains, and thus on JOST cannot currently be quantified. There is therefore a risk that economic momentum will weaken in the course of 2026 and that supply chains will be disrupted, which could have a negative impact on JOST’s business.

The Annual Group Report for the fiscal year 2025, including the Sustainability Report 2025, is available at http://ir.jost-world.com/reports. The accompanying virtual conference will take place on March 26, 2026, at 11:00 a.m. CET. A recording of the conference will be available on the JOST website (http://ir.jost-world.com) following the event.

Contact:

JOST Werke SE
Romy Acosta
Head of Investor Relations
T: +49 6102 295-379
romy.acosta@jost-world.com

About JOST: JOST is a world-leading producer and supplier of safety-critical systems for the commercial vehicle industry. Under the umbrella brand of JOST, the comprehensive range of products is categorized into systems for On-Highway (transport industry) and Off-Highway applications (agriculture and construction industries). JOST’s global leadership position is driven by the strength of its brands JOST, ROCKINGER, TRIDEC, Quicke and Hyva, its long-standing client relationships serviced through its global distribution network, and its efficient and asset-light business model. With its five core brands, the company is the global leading producer of fifth wheel couplings, landing gears, agricultural front loaders and front-end tipping cylinders. Since the acquisition of Hyva in 2025, JOST employs over 6,500 staff worldwide, has sales and production sites in more than 35 countries, and operations on six continents. JOST has been listed on the Frankfurt Stock Exchange. Further information on JOST can be found here: https://www.jost-world.com.