Wacker Neuson SE: Wacker Neuson expects EBIT margin to be below recent guidance based on preliminary figures
Wacker Neuson SE / Key word(s): Preliminary Results
Disclosure of an inside information acc. to Article 17 MAR
Wacker Neuson expects EBIT margin to be below recent guidance based on preliminary figures
Efforts to streamline inventory resulted in large volumes of new equipment being sold off and the impairment of raw materials in North America in particular. This had a dampening effect on profit. Earnings were further affected by the persistently unfavorable product mix.
In light of current developments, the Executive Board approved today the key provisions of a program aimed at reducing costs and increasing efficiency. The Executive Board expects these planned initiatives to yield gradual savings of up to 50 million euros relative to fiscal 2019 over the next two years.
The full financial results for fiscal 2019 will be published on March 16, 2020.
Explanations of the indicators used here can be found on page 158 of the 2018 Wacker Neuson Group Annual Report.
Additional information on Wacker Neuson SE shares:
|Company:||Wacker Neuson SE|
|Phone:||+49 - (0)89 - 354 02 - 0|
|Fax:||+49 (0)89 354 02 - 298|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||957415|
|End of Announcement||DGAP News Service|