Wacker Neuson SE: Wacker Neuson optimistic for 2013
Wacker Neuson SE / Key word(s): Final Results/Forecast
Wacker Neuson optimistic for 2013
(Munich, March 20, 2013) Munich-based light and compact equipment manufacturer Wacker Neuson increased Group revenue significantly in 2012, despite the economic downturn in Europe. The Group achieved its goals, reporting a 10-percent increase in revenue on the previous year. Wacker Neuson intends to continue with its expansion strategy in 2013.
Group profit before interest and tax (EBIT) came to EUR 84.9 million (2011: EUR 123.8 million), which corresponds to an EBIT margin of 7.8 percent (2011: 12.5 percent; adjusted to discount special effects: 11.4 percent). When comparing with the prior-year figure, an accounting effect resulting from a write-up in the amount of EUR 10.8 million should be taken into account. This increased EBIT margin for 2011 by a full percentage point. A similar effect did not exist in 2012.
Net profit for the period amounted to EUR 54.1 million (2011: EUR 85.8 million). This results in earnings per share of EUR 0.77 (previous year: EUR 1.22).
Suggested appropriation of net profit
At EUR 13.6 million, operative cash flow was again positive in 2012 (2011: EUR 43.6 million). The Group's strong credit rating enabled it to successfully place a bonded loan (Schuldscheindarlehen) in the amount of EUR 120 million at attractive conditions in February 2012. The loan gives Wacker Neuson the long-term financial headroom and security to continue expansion in line with its strategy. Equity ratio (before minority interests) was around 68 percent while gearing amounted to 23 percent.
German-speaking markets continue to develop well for Wacker Neuson. In the US, the residential construction and rental markets have picked up. 'Our broad market reach has driven the success of our cross-selling strategy ( both across product segments and across market segments as we target new customers in energy, industry and agriculture for instance,' explains Peksaglam. In the future, the Group will be strengthening its presence in the fast-growing agricultural industry by launching a new 'green line' of wheel loaders and telescopic handlers specially produced by affiliate Kramer.
Revenue forecast of EUR 1.2 billion for 2013
1 Adjusted for a write-up on intangible assets (brand value) in 2011 in the amount of EUR 10.8 million.
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|Company:||Wacker Neuson SE|
|Phone:||+49 - (0)89 - 354 02 - 0|
|Fax:||+49 - (0)89 - 354 02 - 390|
|Listed:||Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart|
|End of News||DGAP News-Service|