JOST Werke SE (JOST), a leading manufacturer and supplier of systems for the on- and off-highway commercial vehicle industry, has reported strong results for the 2025 fiscal year.
With the global company publishing its preliminary and unaudited 2025 results, JOST CEO, Joachim Dürr, said: “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 Q4 2025
JOST’s growth accelerated significantly at the end of the year. Consolidated sales increased by 70.7 per cent to €386.6 million in the fourth quarter of 2025 compared to the previous year (Q4 2024: €226.4 million).
All regions and business lines contributed to this outstanding performance. The Hyva Group, acquired in 2025, generated sales of €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 per cent in the fourth quarter.
Sales of agricultural products rose by 32.0 per cent to €72.2 million (Q4 2024: € 54.7 million). Sales in the Transport business line grew by 4.8 per cent to €179.9 million (Q4 2024: €171.7 million).
Adjusted consolidated EBIT rose at a faster pace than sales by 95 per cent to € 35.2 million (Q4 2024: €18.0 million). Supported by the realisation 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 per cent in the fourth quarter of 2025 (Q4 2024: 8.0 per cent).
JOST reported that it increased consolidated revenues from continuing operations by 43.5per cent to €1,534.2 million in fiscal year 2025 (2024: € 1,069.4 million).
As a result, the group achieved its sales guidance for 2025 (sales growth of 40 per cent to 50 per cent 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 €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 per cent compared to the previous year in a very challenging market environment.
Despite the sharp decline in demand in the Americas, sales in the business line Transport declined by only 2.0 per cent to € 784.9 million (2024: €801.0 million); adjusted for currency effects, sales in Transport rose slightly by 0.1 per cent in 2025 compared to 2024.
Sales of agricultural components increased by 4.8 per cent to € 281.3 million in fiscal year 2025; adjusted for currency effects, the growth rate was 6.6per cent. 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 28.6per cent to € 145.2 million in 2025 compared to the previous year (2024: € 113.0 million).
This puts JOST at the upper end of its guidance EBIT growth corridor of 23per cent to 28per cent. The adjusted EBIT margin reached 9.5per cent (2024: 10.6per cent).
Adjusted for currency effects, adjusted EBIT from continuing operations amounted to approximately € 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 8.5per cent in fiscal year 2025.
EMEA
In EMEA, JOST increased revenues from continuing operations in fiscal year 2025 by 27.8per cent to € 736.1 million compared to the previous year (2024: € 575.9 million). This strong growth was supported by acquisition effects of € 125.8 million from the consolidation of Hyva.
Organically, JOST succeeded in increasing revenue in EMEA by 5.3per cent 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 € 35.6 million in 2025 (2024: € 39.1 million).
As a result, the adjusted EBIT margin in EMEA went down to 4.8per cent (2024: 6.8per cent). 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 the Americas, revenues from continuing operations rose by 23.7per cent to € 403.9 million in fiscal year 2025 (2024: € 326.4 million). Hyva contributed € 107.0 million to revenues.
Demand in North America was severely impacted by the constantly changing US tariffs. Despite the very unfavourable 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 4.2per cent 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 24.6per cent to € 44.2 million in 2025 (2024: € 35.5 million). The adjusted EBIT margin remained stable at 10.9per cent (2024: 10.9per cent).
APAC
In APAC, JOST more than doubled revenues from continuing operations in 2025 by 136.1per cent to € 394.2 million (2024: € 167.0 million).
Hyva’s strong market position in Asia contributed to the sales growth in APAC significantly, generating sales of € 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 0.6per cent compared to prior year. Adjusted EBIT from continuing operations grew by 95.9per cent to € 61.7 million compared to the previous year (2024: € 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 15.7per cent in 2025 (2024: 18.9per cent).
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 25per cent 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-€o range.
JOST Werke SE CFO, Oliver Gantzert, 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.”
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