JOST implements its growth strategy AMBITION 2030 further and achieves strong results in all business lines in fiscal year 2025

JOST implements its growth strategy AMBITION 2030 further and achieves strong results in all business lines in fiscal year 2025

• Revenue guidance achieved: Revenue rises by 43.5% to EUR 1,534.2 million (2024: EUR 1,069.4 million), supported by M&A and organic growth (+2%) 
• Operating result at the upper end of guidance: Adjusted EBIT rises by 28.6% to EUR 145.2 million (2024: EUR 113.0 million) and the adjusted EBIT margin reaches 9.5% (2024: 10.6%).
• Free cash flow at record level: Free cash flow rises to EUR +126.4 million (2024: EUR +119.2 million).
• Leverage well below the 2.5x target: The leverage ratio is 2.26x despite debt financing of the Hyva acquisition (2024: 0.93x).
• JOST continues to pursue its growth strategy and achieves its 2025 guidance targets: Integration of Hyva strengthens resilience; successful ramp-up of synergies accelerates sales and earnings growth and supports profitability.

Neu-Isenburg, February 19, 2026. JOST Werke SE ("JOST"), one of the world's leading manufacturers and suppliers of mission- and safety-critical systems for the on- and off-highway commercial vehicle industry, published today its preliminary and unaudited results for the 2025 fiscal year.

Joachim Dürr, CEO of JOST Werke SE, says: "2025 was an exceptionally volatile year, which we managed to close very successfully despite numerous challenges. Key core markets such as the U.S. went down by double-digit percentage rates compared to the prior year. Nevertheless, JOST was able to achieve organic growth in 2025, which was further boosted by the acquisition of the Hyva Group. Our AMBITION 2030 strategy offers a clear answer to the high market volatility in our industry: we are focusing on diversification, strengthening our resilience and profitability, and actively pursuing new growth opportunities in the on- and off-highway sectors. This enabled us to achieve our financial targets in 2025 and to even be at the upper range of our profitability guidance. Only one year after the Hyva acquisition, we are better positioned to leverage the remaining synergies of the integration and generate further profitable growth in 2026."

Strong growth in the fourth quarter of 2025 and significant improvement in profitability through synergies support successful year-end results

JOST's growth accelerated significantly at the end of the year. Consolidated sales increased by 70.7% to EUR 386.6 million in the fourth quarter of 2025 compared to the previous year (Q4 2024: EUR 226.4 million). All regions and business lines contributed to this outstanding performance. The Hyva Group, acquired in 2025, generated sales of EUR 134.5 million in the fourth quarter of 2025. Even adjusted for acquisition and currency effects, JOST posted a strong organic sales growth of 14.6% in the fourth quarter. Sales of agricultural products rose by 32.0% to EUR 72.2 million (Q4 2024: EUR 54.7 million). Sales in the Transport business line grew by 4.8% to EUR 179.9 million (Q4 2024: EUR 171.7 million). Adjusted consolidated EBIT rose at a faster pace than sales by 95.0% to EUR 35.2 million (Q4 2024: EUR 18.0 million). Supported by the realization of synergy effects from the integration and the positive organic development in Transport and Agriculture, JOST’s adjusted EBIT margin improved by 1.1 percentage points to 9.1% in the fourth quarter of 2025 (Q4 2024: 8.0%).   

Guidance targets for revenue and earnings growth achieved in fiscal year 2025

JOST increased consolidated revenues from continuing operations by 43.5% to EUR 1,534.2 million in fiscal year 2025 (2024: EUR 1,069.4 million). Thus, the group achieved its sales guidance for 2025 (sales growth of 40% to 50% compared to the previous year). This includes acquisition effects from the consolidation of the continuing operations of the Hyva Group from February until December 2025 in the amount of EUR 468.0 million. At the same time, negative currency effects reduced growth by 2.0 percentage points. Adjusted for acquisition and currency effects, JOST was able to increase organic consolidated revenues in 2025 by 1.7% compared to the previous year in a very challenging market environment. 

Despite the sharp decline in demand in AMERICAS, sales in the business line Transport declined by only 2.0% to EUR 784.9 million (2024: EUR 801.0 million); adjusted for currency effects, sales in Transport rose slightly by 0.1% in 2025 compared to 2024. Sales of agricultural components increased by 4.8% to EUR 281.3 million in fiscal year 2025; adjusted for currency effects, the growth rate was 6.6%. Market share gains and initial positive market momentum, particularly in EMEA, were the main drivers of this growth.

Adjusted earnings before interest and taxes (EBIT) from continuing operations rose by 28.6% to EUR 145.2 million in 2025 compared to the previous year (2024: EUR 113.0 million). This puts JOST at the upper end of its guidance EBIT growth corridor of 23% to 28%. The adjusted EBIT margin reached 9.5% (2024: 10.6%). Adjusted for currency effects, adjusted EBIT from continuing operations amounted to approximately EUR 149 million in fiscal year 2025. JOST has achieved a steady increase in Hyva's profitability over the course of the year, which is related to the ramp-up of the first synergies from the integration; Hyva companies generated an adjusted EBIT margin of more than 8.5% in fiscal year 2025.

EMEA

In EMEA, JOST increased revenues from continuing operations in fiscal year 2025 by 27.8% to EUR 736.1 million compared to the previous year (2024: EUR 575.9 million). This strong growth was supported by acquisition effects of EUR 125.8 million from the consolidation of Hyva. Organically, JOST succeeded in increasing revenue in EMEA by 5.3% compared to the previous year, adjusted for acquisition and currency effects. Somewhat affected by the administrative burden of higher SG&A costs as well as R&D costs, which are primarily allocated to the EMEA region at both JOST and the newly acquired Hyva companies, adjusted EBIT in EMEA amounted to EUR 35.6 million in 2025 (2024: EUR 39.1 million). As a result, the adjusted EBIT margin in EMEA went down to 4.8% (2024: 6.8%). As part of the integration of Hyva, JOST has already begun to leverage synergies in sales and administration, which should lead to an improvement in profitability in the region by the end of 2026.

AMERICAS

In AMERICAS, revenues from continuing operations rose by 23.7% to EUR 403.9 million in fiscal year 2025 (2024: EUR 326.4 million). Hyva contributed EUR 107.0 million to revenues. Demand in North America was severely impacted by the constantly changing U.S. tariffs. Despite the very unfavorable market environment, JOST was able to keep organic sales in AMERICAS, i.e. adjusted for acquisition and currency effects, almost stable. They declined by only 4.2% compared to the previous year. The significant sales growth in South America could partially offset the weakness in North America. At the same time, JOST's local-for-local approach led to market share gains in the U.S. market. Overall, JOST's flexibility enabled it to cope well with the highly volatile demand in AMERICAS and increase adjusted EBIT by 24.6% to EUR 44.2 million in 2025 (2024: EUR 35.5 million). The adjusted EBIT margin remained stable at 10.9% (2024: 10.9%).

APAC

In APAC, JOST more than doubled revenues from continuing operations in 2025 by 136.1% to EUR 394.2 million (2024: EUR 167.0 million). Hyva's strong market position in Asia contributed to the sales growth in APAC significantly, generating sales of EUR 235.2 million from February until December 2025. JOST was able to offset the market weakness in India and the Pacific region with its strong transport business in China, particularly for the export market. Thus, adjusted for acquisition and currency effects, JOST's organic sales in APAC increased by 0.6% compared to prior year. Adjusted EBIT from continuing operations grew by 95.9% to EUR 61.7 million compared to the previous year (2024: EUR 31.5 million). Due to the significant change in the product mix in the region, as a result of the consolidation of Hyva, the adjusted EBIT margin amounted to 15.7% in 2025 (2024: 18.9%).

Exceptionals in the financial result and earnings after taxes mainly due to the Hyva acquisition

The strong performance of Hyva’s the recycling business in South America in 2025 and the higher expectations regarding the future development of this business have led to the value increase of a put option that was acquired together with Hyva. The put option relates to the acquisition of the remaining 25% minority interest of Hyva's recycling business in South America. This revaluation, combined with higher interest and leasing expenses due to the Hyva consolidation, will significantly increase financial expenses in fiscal year 2025 compared to the previous year.

Given structural measures put in place in the EMEA segment to ensure the region's sustainable profitability in future, the 2025 tax result will include a one-time non-cash deferred tax expense, which will affect earnings after taxes from continuing operations in the low double-digit million-euro range.

Adjusted for exceptionals, earnings after taxes from continuing operations are expected to increase compared to the previous year, as forecast.

Furthermore, the non-cash loss on disposal from the sale of the crane business acquired with Hyva combined with the transaction and carve-out costs associated with the sale of the cranes business are expected to impact earnings from discontinued operations in 2025 in the low double-digit million-euro range.

Free cash flow reaches new record level in 2025

According to preliminary figures, free cash flow rose to EUR +126.4 million in 2025, reaching a new record level (2024: EUR +119.2 million). Free cash flow per share rose to EUR +8.48 (2024: EUR +8.00).

Investments in property, plant, and equipment and intangible assets (excluding acquisitions) grew to EUR 43.2 million in 2025 (2024: EUR 33.3 million), in line with revenue growth. Thus, capex (excluding acquisitions) amounted to 2.8% of total revenues (2024: 3.1%) in line with the guidance target of approx. 2.9% given for fiscal year 2025.

Influenced by the initial consolidation of Hyva and the resulting increase in business volume, working capital rose by 44.6% to EUR 237.3 million in fiscal year 2025 (2024: EUR 164.2 million), in line with the increase in sales. The ratio of working capital to revenues for the last twelve months improved slightly compared to the previous year to 15.1% (2024: 15.3%) and is once again well below the target of 18.5%.

Influenced by the debt financing of the Hyva acquisition and the dividends distributed, net debt (excluding IFRS 16 liabilities) rose by EUR 304.1 million to EUR 441.6 million as of December 31, 2025 (December 31, 2024: EUR 137.5 million). This led to an increase in the leverage ratio (ratio of net debt to adjusted EBITDA) to 2.26x (December 31, 2024: 0.93x).  JOST clearly achieved its goal to rapidly reduce the leverage ratio and bring it back to below the 2.5x EBITDA mark within the first year of the Hyva acquisition.

Oliver Gantzert, CFO of JOST Werke SE, said: "Supported by a new free cash flow record, we were able to quickly start reducing JOST’s financial debt following the acquisition of Hyva as announced at the beginning of the year. I’m particularly proud of the continuous improvement in our profitability that we managed to achieve over the course of the year. A lot of hard work has gone into this: our teams worldwide have pushed forward the Hyva integration to achieve the first synergies faster than expected. This enabled us to increase Hyva's adjusted EBIT margin by more than 250 basis points from the first quarter of 2025 to the fourth quarter of 2025."

The final, audited results for the 2025 fiscal year, including the 2025 Sustainability Report, the dividend proposal, and the outlook for the year 2026, will be published on March 26, 2026, together with the 2025 Annual Group Report. In this context, JOST will host a virtual conference on March 26, 2026, at 11:00 a.m.

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: www.jost-world.com