Wacker Neuson SE: Revenue and EBIT for the third quarter above market expectations based on preliminary figures; Executive Board raises revenue and EBIT guidance
Wacker Neuson SE / Key word(s): Preliminary Results/Change in Forecast
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Wacker Neuson SE: Revenue and EBIT for the third quarter above market expectations based on preliminary figures; Executive Board raises revenue and earnings guidance
The Group managed to increase Q3 revenue relative to the prior-year period by a wider margin than initially anticipated in light of concerns over supply chain strains and repeated disruptions. It also largely managed to avoid extended production shutdowns. Material shortages and the resulting interruptions to production nonetheless curbed growth. Combined with rework efforts and raw material, component and shipping price increases, these had a draw-down effect on earnings, with profitability well above the prior-year quarter but below the H1 2021 level. By contrast, the rise in sales volumes and strict cost controls had a positive effect on profitability.
Based on the development of business to date and taking the prevailing conditions as well as the opportunities and risks facing the Wacker Neuson Group into consideration, the Executive Board today raised its revenue and earnings guidance for fiscal 2021 as a whole. The revenue range is now set at EUR 1,775 to EUR 1,825 million and the EBIT margin corridor at 9.3 to 9.7 percent (previous revenue guidance between EUR 1,750 and 1,800 million; previous EBIT margin guidance between 8.75 and 9.50 percent). Given that material reserves across the Group and its supply chains have now been depleted, the Executive Board anticipates a more pronounced impact from production outages and rising costs for raw materials, components and shipping in the fourth quarter.
The Group will publish the final results for the third quarter on November 10, 2021.
Explanations of the indicators used here can be found from page 150 onwards in the 2020 Wacker Neuson Group Annual Report.
|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:||1244555|
|End of Announcement||DGAP News Service|