Wacker Neuson SE: Wacker Neuson reports strong business development in first half of 2012
Wacker Neuson SE / Key word(s): Interim Report/Half Year Results
Wacker Neuson reports strong business development in first half of 2012
Highest quarterly revenue, strong growth in the Americas, reaffirmation of revenue forecast
(Munich, August 9, 2012) Munich-based light and compact equipment manufacturer Wacker Neuson performed well in the first half of 2012. The Group continues to expect double-digit revenue growth for 2012 as a whole despite signs pointing to a slowdown in demand in Europe for the second half of the year.
Above-average growth in the Americas in Q2 2012
Sharp rise in revenue in H1 2012
Falling demand in Europe combined with the relocation of production activities to the new facility in Hörsching squeezed profit. At EUR 76.1 million, profit before interest, tax, depreciation and amortization (EBITDA) for H1 2012 was 6.3 percent higher than the previous year (H1 2011: EUR 71.6 million). This corresponds to an EBITDA margin of 13.6 percent (H1 2011: 15.0 percent). Profit before interest and tax (EBIT) came to EUR 49.2 million (H1 2011: EUR 48.6 million), resulting in an EBIT margin of 8.8 percent (H1 2011: 10.2 percent). Profit for the period after tax and minority interests amounted to EUR 30.9 million in the first half-year (H1 2011: EUR 31.5 million). At EUR 0.44, earnings per share remained roughly on a par with the previous year (H1 2011: EUR 0.45).
Changes to the Executive Board
Mr. Martin Lehner will take on responsibility for light equipment at Executive Board level in addition to his current role as head of compact equipment. Mr. Lehner has been with the company since 1987 and is also Deputy CEO to Cem Peksaglam.
Outlook and forecast for 2012
The Group has reaffirmed its revenue forecast of around EUR 1.1 billion for 2012. In light of uncertainties surrounding European market developments as well as the negative impact on revenue resulting from the relocation of production activities, the Group now expects the EBITDA margin to level out between 13 and 15 percent. At the start of the year, company management predicted an EBITDA margin of at least 15 percent. In fiscal 2011, Wacker Neuson reported revenue of EUR 991.6 million and an EBITDA margin of 16.4 percent.
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:||Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München, Stuttgart|
|End of News||DGAP News-Service|