JOST Werke SE
ISIN: DE000JST4000
WKN: JST400
16 September 2024 02:47PM

EQS-News: JOST enters into exclusivity agreement to acquire Hyva

JOST Werke SE · ISIN: DE000JST4000 · EQS - Company News
Country: Germany · Primary market: Germany · EQS NID: 1988947

EQS-News: JOST Werke SE / Key word(s): Mergers & Acquisitions/Agreement
JOST enters into exclusivity agreement to acquire Hyva

16.09.2024 / 14:47 CET/CEST
The issuer is solely responsible for the content of this announcement.


JOST enters into exclusivity agreement to acquire Hyva

  • JOST signs exclusivity agreement to acquire Hyva: JOST intends to significantly broaden its product portfolio and to add the global market leader in hydraulic cylinders to its family of brands.
  • Expected additional sales contribution of around EUR 624 million p.a.: Hyva will strengthen JOST’s on- and off-highway solutions, increasing the group’s offerings to transport and infrastructure customers and unlocking new growth opportunities.
  • Targeting to sign a definitive agreement in Q4 2024: JOST will finance the transaction through a combination of cash and debt. No equity capital increase is contemplated nor necessary.
  • Value accretive: JOST has identified a synergy potential of more than EUR 20 million p.a. and expects the acquisition to be value accretive.

 

Neu-Isenburg, September 16, 2024. JOST Werke SE ("JOST"), a leading global producer and supplier of safety-critical systems for commercial vehicles, today entered into an exclusivity agreement with Unitas Capital Pte. Ltd. and NWS Holdings Limited, with a view to finalizing the terms of a transaction in relation to the purchase of all the shares in Hyva III B.V., including its direct and indirect subsidiaries worldwide (“Hyva”). JOST is confident that a definitive agreement will be signed in the fourth quarter of 2024.

Founded in 1979, and headquartered in the Netherlands, Hyva is a leading supplier of hydraulic solutions for the commercial vehicle industries. With a global market share of more than 40%, Hyva is the market leader for front-end tipping cylinders worldwide. Hyva’s global manufacturing footprint encompasses 14 production facilities across China, India, Brazil and Europe, servicing the transport, agriculture, construction, mining and environmental industries.

JOST is convinced that the acquisition of Hyva will unlock further potential for profitable growth. Hyva’s strong brand will enable JOST to replicate its successful push-and-pull sales strategy. Hyva’s broad product portfolio and wide customer network of blue-chip OEMs, body builders, dealers and end-users will complement and expand JOST’s offerings and will strengthen the group’s position as a global supplier for the commercial vehicle industry.

Joachim Dürr, CEO of JOST Werke SE, said: "We are very pleased to have entered into an exclusivity agreement for the future acquisition of Hyva. Hyva is a highly recognized brand with a strong market leading position. The experienced management team and highly motivated staff are respected industry experts who understand applications, markets and customers’ needs very well. These capabilities strongly support JOST’s strategy to become the number one supplier for on- and off-highway commercial vehicles worldwide. The intended addition of Hyva will expand JOST’s product portfolio and offerings for customers in the transport, agriculture and infrastructure industries. In addition, Hyva’s significant knowhow with hydraulics will support the technological development of JOST’s existing products. Together, both companies will benefit from a wider regional sales and production network, transforming into an even stronger industry champion and becoming a more attractive business partner for all our customers worldwide.”

Alex Tan, CEO of Hyva, said: “We recognize the intended acquisition by JOST as a significant step for Hyva. JOST is a respected partner in the commercial vehicle industry, and we share a commitment to developing innovative and efficient transportation, environmental, and agricultural solutions. This partnership provides us with the opportunity to enhance our global market position, expand our product offerings, and reach a wider range of OEMs, body builders, dealers, and customers. Joining forces will enable quicker and more effective adoption of new digital technologies supported by enhanced joint R&D efforts for smart transportation solutions. My team and I are prepared to navigate this transition and look forward to growing our business and serving our customers better together.”

Financing

In the last twelve months, ended June 30, 2024, Hyva generated sales of about EUR 624 million, a gross profit margin of 23.4% and an adj. EBIT of EUR 41 million. JOST is targeting a synergy potential of more than EUR 20 million p.a. and expects the acquisition to be accretive. Through a combination of both businesses as well as the realization of the identified synergies, Hyva’s profitability is expected to match JOST’s strategic adj. EBIT margin corridor (10.0% to 12.0%) two years after closing.

The transaction will be financed through a combination of cash, drawdowns from currently undrawn credit facilities as well as via debt acquisition financing. No equity capital increase is contemplated nor necessary in order to finance the transaction.

Based on pro-forma LTM figures as of June 30, 2024, the combined pro-forma group leverage (net debt to LTM adjusted EBITDA excl. IFRS 16) is expected to remain below 2.5x adj. EBITDA post transaction.

 

Conference Call

JOST will offer a conference call for analysts and investors tomorrow, September 17, 2024, at 11:00 a.m. CEST.

 

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 leading global manufacturer and supplier of safety-relevant systems for the commercial vehicle industry with its core brands JOST, ROCKINGER, TRIDEC and Quicke. JOST’s global leadership position is driven by the strength of its brands, its long-standing client relationships serviced through its global distribution network, and its efficient and asset-light business model. With sales and production facilities in 26 countries across six continents, JOST has direct access to all major truck, trailer and agricultural tractor manufacturers as well as relevant end customers in the commercial vehicle industry. JOST currently employs around 3,600 staff across the world and is listed on the Frankfurt Stock Exchange. For more information about JOST, please visit http://www.jost-world.com 

 

About Hyva: Hyva is a leading global provider of innovative and highly efficient transport solutions for the commercial vehicle and environmental service industries. The company is committed to the development, production, marketing, and distribution of solutions used in hydraulic loading and unloading systems on trucks and trailers.Its products are used worldwide across a range of sectors including transport, construction, mining, materials handling and environmental services providers.  

Hyva produces the strongest front end hydraulic telescopic cylinder in the world, double acting cylinders, mobile and static compactors, and waste collection units.Hyva’s portfolio comprises: Hydraulics (cylinders, tipping gear and wet kits), Container Handling Systems (hook and skip loaders)), Cranes (fixed and rolling) andWaste Handling Equipment plus complementary transport solutions such as horizontal unloading/loading Floors and Cover Systems. 

Founded in 1979, the company is headquartered in Alphen aan den Rijn in The Netherlands and operates in more than 110 countries with over 3,000 employees around the world. The Hyva Group encompasses more than 30 subsidiaries globally, with an extraordinary sales and service coverage and 14 production facilities in Brazil, China, Germany, India, and Italy, with more than 20,000 customers. For further information, visit http://www.hyva.com    

 



16.09.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: JOST Werke SE
Siemensstraße 2
63263 Neu-Isenburg
Germany
Phone: +49 6102 2950
Fax: +49 (0)6102 295-298
E-mail: ir@jost-world.com
Internet: www.jost-world.com
ISIN: DE000JST4000
WKN: JST400
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1988947

 
End of News EQS News Service

1988947  16.09.2024 CET/CEST

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  2018 2019 2020 2021 2022 2023 2024e
Sales1 755,41 736,35 794,41 1.050,93 1.264,61 1.249,70 1.060,00
EBITDA1,2 97,10 94,87 83,58 121,16 146,67 150,78 136,00
EBITDA-Margin3 12,85 12,88 10,52 11,53 11,60 12,07 12,83
EBIT1,4 53,19 45,80 25,05 53,94 88,74 92,78 84,00
EBIT-Margin5 7,04 6,22 3,15 5,13 7,02 7,42 7,93
Net Profit (Loss)1 53,45 33,52 19,29 43,86 59,85 52,29 46,00
Net-Margin6 7,08 4,55 2,43 4,17 4,73 4,18 4,34
Cashflow1,7 58,15 77,56 118,96 53,40 56,02 143,10 0,00
Earnings per share8 3,59 3,41 3,18 2,94 4,02 3,51 3,10
Dividend per share8 1,10 0,00 1,00 1,05 1,40 1,50 1,50
Quelle: boersengefluester.de and Company information
Explanation

1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de

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INVESTOR-INFORMATION
©boersengefluester.de
Jost Werke
WKN ISIN Legal Type Marketcap IPO Recommendation Plus Code
JST400 DE000JST4000 SE 659,33 Mio € 20.07.2017 Halten 9F2C2MWG+CP
* * *
PE 2025e PE 10Y-Ø BGFL-Ratio Shiller-PE PB PCF KUV
12,46 12,66 0,98 29,29 1,83 4,61 0,53
Dividends
Dividend '2022
in €
Dividend '2023
in €
Dividend '2024e
in €
Div.-Yield '2024e
in %
1,40 1,50 1,50 3,39%
Financial calendar
Annual General Meeting Q1-figures Q2-figures Q3-figures Annual press conference
08.05.2025 15.05.2025 14.08.2025 14.11.2024 26.03.2025
Performance
Distance 60-days-line Distance 200-days-line Performance YtD Performance 52 weeks IPO
Last Price (EoD)
+2,31%
44,25 €
ATH 57,80 €
+3,07% +1,06% +0,11% +0,11% +63,89%

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