Wacker Neuson Group continues to develop positively in the third quarter; revenue and earnings guidance raised
DGAP-News: Wacker Neuson SE / Key word(s): Quarterly / Interim Statement Wacker Neuson Group continues to develop positively in the third quarter; revenue and earnings guidance raised
Munich, November 10, 2021 - The Wacker Neuson Group had a successful third quarter. Revenue increased 18.1 percent relative to the prior year to reach EUR 461.4 million (Q3/20: EUR 390.8 million). However, material shortages and the resulting interruptions to production curbed growth although the Group largely managed to avoid extended production shutdowns. Profit before interest and tax (EBIT) almost doubled at EUR 44.7 million (Q3/20: EUR 22.8 million). The EBIT margin amounted to 9.7 percent (Q3/20: 5.8 percent). "The third quarter was a successful but also very difficult three months for us. Supply chain strains and repeated disruptions were major challenges for our teams, suppliers and business partners - and there are still no signs of easing. Our enormous efforts have paid off, however, and I would like to thank everyone who has contributed to this strong result," summarizes Dr. Karl Tragl, CEO of the Wacker Neuson Group. Group revenue for the first nine months of the year amounted to EUR 1,389.7 million, which is a rise of 17.0 percent (9M/20: EUR 1,187.5 million). EBIT increased to EUR 144.8 million and the EBIT margin is reported at 10.4 percent (9M/20: EUR 73.2 million; 6.2 percent). Europe and the Americas report strongest growth rates Revenue for the Americas in the third quarter amounted to EUR 84.3 million. This corresponds to a rise of 27.9 percent (Q3/20: EUR 65.9 million). The Group benefitted here from a number of developments including a rebound in the worksite technology product business and significant gains with excavators and wheel loaders. Business in Canada developed particularly well with the Group already exceeding pre-crisis levels. By contrast, business in Asia-Pacific stagnated. Revenue here was on a par with the prior-year quarter at EUR 14.9 million. Although the positive H1 performance in Australia continued into Q3, a downturn in the excavator market in China impacted developments in the region. Sharp rise in profitability; supply chains impact productivity Net working capital ratio within the strategic target corridor Net financial debt falls again due to strong cash generation Order intake and order book at high levels, revenue and earnings guidance for the year as a whole raised
Contact: The complete quarterly report is available at the following link: www.wackerneusongroup.com/en/investor-relations/financial-reports-presentations/2021 For press images relating to the Wacker Neuson Group, please see:
10.11.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | Wacker Neuson SE |
Preußenstr. 41 | |
80809 München | |
Germany | |
Phone: | +49 - (0)89 - 354 02 - 0 |
Fax: | +49 (0)89 354 02 - 298 |
E-mail: | ir@wackerneuson.com |
Internet: | www.wackerneusongroup.com |
ISIN: | DE000WACK012 |
WKN: | WACK01 |
Indices: | SDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1247483 |
End of News | DGAP News Service |