Wacker Neuson SE: Wacker Neuson remains on a growth path in Q3 2011

Wacker Neuson SE / Key word(s): Quarter Results/Forecast

11.11.2011 / 07:30


Wacker Neuson remains on a growth path in Q3 2011

(Munich, November 11, 2011) Munich-based light and compact equipment
manufacturer Wacker Neuson maintained its dynamic pace of growth during the
third quarter of 2011, reporting increased revenue and earnings relative to
the previous year. Business in core markets was particularly strong. The
Group also upped its forecast for 2011 again and expects to grow further in
the coming year.

Significant rise in revenue and earnings 
At EUR 249 million, revenue for Q3 2011 was up 27 percent on the previous
year (Q3 2010: EUR 196 million). 'The economic slowdown prompted by the
debt crisis did not have any impact on Wacker Neuson in the third quarter,'
explains Cem Peksaglam, CEO of Wacker Neuson SE. 'Our compact equipment
segment proved particularly dynamic. European markets such as Germany,
France, Sweden and Poland as well as markets in South America were key
growth drivers here,' continues Peksaglam. In the light equipment segment,
the Group generated strong business in the US, Russia and Germany. Due to
the Group's optimized cost structure, the increase in Q3 revenue doubled
Group earnings relative to the previous year, resulting in profit before
interest, tax, depreciation and amortization (EBITDA) of EUR 50 million (Q3
2010: EUR 25 million). This corresponds to an EBITDA margin of 19.9 percent
(Q3 2010: 12.7 percent). Profit before interest and tax (EBIT) rose to EUR
38 million (Q3 2010: EUR 14 million), while the EBIT margin totaled 15.1
percent (Q3 2010: 7.2 percent). At EUR 27 million, profit for the period
after tax and minority interests almost trebled during the third quarter
(Q3 2010: EUR 10 million). Earnings per share thus totaled EUR 0.39 (Q3
2010: EUR 0.14).

2011 forecast revised upwards - continued optimism for 2012
'With EBITDA at EUR 121 million, we have already achieved our target for
the entire year after only nine months. This has led us to raise our
forecast for 2011 once again,' explains Günther C. Binder, CFO of Wacker
Neuson SE. Mr. Binder is also optimistic about the fourth quarter of 2011
in view of strong order intake. The Executive Board now expects revenue for
fiscal 2011 to total around EUR 945 million (previous forecast: EUR 930
million), accompanied by an EBITDA margin of around 15 percent (previous
forecast: 13 to 14 percent). 'Even if market expansion slows, our growth
strategy comprises effective measures that will see us grow faster than the
market. Our outstanding flexibility and financial stability also enable us
to react quickly to market changes and capitalize on opportunities,' states
Peksaglam. 'We thus remain committed to breaking the EUR 1 billion revenue
mark in 2012 for the first time and achieving an EBITDA margin in excess of
15 percent.'

Table: Revenue and earnings*
Key figures
in EUR million  

Revenue 248.9/196.0/26.9/727.6/551.7/31.9
Gross margin (as a %)  34.3/34.2/0.1PP/33.2/32.1/1.1PP
EBITDA   49.6/25.0/98.8/121.2/55.7/117.8
EBITDA margin (as a % ) 19.9/12.7/7.2PP/16.7/10.1/6.6PP
EBIT     37.6/14.1/166.5/86.2/25.3/240.3
EBIT margin (as a %) 15.1/7.2/7.9PP/11.9/4.6/7.3PP
EBT      36.7/13.8/167.1/83.5/22.9/264.6
Profit for the period   27.4/10.1/170.2/59.0/15.4/283.9
Earnings per share(in EUR)0.39/0.14/178.6/0.84/0.22/281.8

*All figures include effects from purchase price allocation; differences
may occur as a result of figures being rounded up or down. PP = percentage
points. 2010 earnings adapted due to changes in how figures are reported.

Your contact partner:

Wacker Neuson SE 
Katrin Yvonne Neuffer
Head of Corporate Communication /
Investor Relations
Preussenstr. 41 
80809 Munich, Germany 
Tel: +49-(0)89-35402-173

About Wacker Neuson
The Wacker Neuson Group is a leading manufacturer of light and compact
equipment with over 30 affiliates and more than 140 sales and service
stations across the globe. Manufacturing activities are distributed across
three sites in Germany, one in Austria, a components manufacturing plant in
Serbia, two sites in the US and one in the Philippines. Products
manufactured by the company are branded Wacker Neuson. In Europe, the Group
also distributes compact equipment under the brand names Kramer Allrad and
Weidemann (agricultural machinery). With over 300 product categories and a
global spare parts service, Wacker Neuson is the partner of choice among
professional users in a wide range of industries including the
construction, gardening, landscaping and agriculture sectors, as well as
among municipal bodies and companies in the industrial, recycling and
energy sectors.

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Language:    English                                                
Company:     Wacker Neuson SE                                       
             Preußenstr. 41                                         
             80809 München                                          
Phone:       +49 - (0)89 - 354 02 - 0                               
Fax:         +49 - (0)89 - 354 02 - 390                             
E-mail:      info@wackerneuson.com                                  
Internet:    www.wackerneuson.com                                   
ISIN:        DE000WACK012                                           
WKN:         WACK01                                                 
Listed:      Regulierter Markt in Frankfurt (Prime Standard);       
             Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,  
             München, Stuttgart                                     
End of News    DGAP News-Service  
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