Wacker Neuson SE: Wacker Neuson Group continues on growth path
Wacker Neuson SE / Key word(s): Quarter Results/Half Year Results
Wacker Neuson Group continues on growth path
(Munich, August 4, 2015) Leading international light and compact equipment manufacturer the Wacker Neuson Group has again reported record revenue and earnings for the first half of 2015 despite challenging regional market conditions. The Group remains committed to its forecast for 2015.
Record six months in 2015
In Europe, revenue rose 11 percent compared with the previous year. The region accounts for the lion's share of revenue at 72 percent. The largest nominal increase came from the Americas region, which reported a 22-percent rise in revenue. This figure was significantly affected by currency effects, however (+3 percent when adjusted to discount these). Currency effects also impacted the Asia-Pacific region, where revenue for the first half of 2015 was 21 percent higher than the prior-year. When adjusted to discount currency effects, the rise in revenue was 8 percent in that region.
The compact equipment segment again proved to be the main growth driver in the first half of 2015. Revenue for this segment increased by 25 percent relative to the previous year (+22 percent when adjusted to discount currency effects). Revenue from the light equipment segment rose 5 percent and thus fell short of expectations. This was mainly attributable to difficult market dynamics in countries such as Canada, Brazil, Chile, China, Australia and Russia. Exchange rate effects had more of an impact on this segment as a large part of revenue from light equipment is generated outside of Europe. When adjusted to discount currency effects, revenue here was thus 6 percent lower than in the previous year. Revenue for the services segment, which covers the Group's repair and spare parts business, increased 4 percent compared with the previous year. After discounting currency effects, revenue for the segment remained at the same level as the prior year.
Profit higher than H1 2014
Profit was affected by changes in the regional and sales mix relative to the previous year. The compact equipment segment's share of Group revenue exceeded 51 percent while the light equipment's share fell to just under 30 percent. The services segment accounted for 19 percent of revenue.
The Group intensified its production, R&D and sales activities in response to the strong rise in revenue. "We are strengthening our foundation for future success by making carefully managed investments in our international organization," summarizes Peksaglam.
Revenue for second quarter of 2015 rises while profit falls below the prior-year quarter
Profit before interest and tax (EBIT) for the second quarter of 2015 amounted to EUR 34.0 million and was thus 18 percent below the prior-year quarter, which was an unusually strong period for the Group (Q2 2014: EUR 41.3 million). The EBIT margin amounted to 8.9 percent while the EBITDA margin was posted at 13.3 percent (Q2/14: 12.6 percent and 17.3 percent).
Positive free cash flow expected for the year as a whole
Growth forecast for 2015 confirmed
Table: Revenue and earnings
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|Company:||Wacker Neuson SE|
|Phone:||+49 - (0)89 - 354 02 - 0|
|Fax:||+49 - (0)89 - 354 02 - 390|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart|
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