NEU-ISENBURG (dpa-AFX) - Truck supplier Jost Werke is more optimistic about its earnings performance in 2023 despite headwinds from currency effects and weak demand in the agricultural sector. Thanks to cost-cutting measures, the adjusted profit margin before interest and taxes should improve "significantly" compared to the 9.8 percent achieved in 2022, the company surprisingly announced on Wednesday. Previously, only a slight improvement had been targeted. The operating result will therefore grow in the high single-digit percentage range (previous year: EUR 123.8 million). However, turnover will probably only remain at the previous year's level of EUR 1.26 billion instead of increasing in the low single-digit percentage range.

The share price moved sharply in both directions following the news. Recently, however, the more optimistic margin outlook seemed to prevail among investors. The shares traded slightly higher in the afternoon.

According to the company, turnover in the third quarter fell by almost eleven percent year-on-year to 292 million euros. However, the operating result (adjusted EBIT) increased by almost ten percent to 33.4 million euros. This results in a margin improvement of 2.1 percentage points to 11.4 percent.

The full quarterly figures are to be published on November 13 /mis/jha/.