Wacker Neuson SE / Key word(s): Quarter Results/Half Year Results11.08.2011 / 07:39---------------------------------------------------------------------Wacker Neuson accelerates growth(Munich, August 11, 2011) The Wacker Neuson Group grew faster than theoverall market during the second quarter and generated its highestquarterly revenue and profit figures since the 2007 merger. The ExecutiveBoard has thus upped its forecast for fiscal 2011. Following the approvalof the drop-down and transfer agreement at the AGM, Wacker Neuson SEoperates as a management holding company with a central managementstructure since July 28, 2011. Dr. Matthias Bruse is set to replace Dr.Ulrich Wacker on the Supervisory Board.Wacker Neuson improves profit marginsMunich-based light and compact equipment manufacturer Wacker Neuson grew atan above-average rate during the second quarter of 2011. Revenue was up30.0 percent to EUR 266.9 million (Q2 2010: EUR 205.3 million). 'We grewsignificantly faster than the overall market during the second quarter,'explains Richard Mayer, Spokesperson for the Executive Board. 'This actedas a further lever for our earnings power and revealed efficiency gainsacross the Group.' Group profit also reflected the upward trend in salesand revenue. Preliminary profit before interest, tax, depreciation andamortization (EBITDA) for the second quarter was up 69.3 percent on theprevious year at EUR 45.7 million (Q2 2010: EUR 27.0 million) - the highestfigure since the 2007 merger. This corresponds to an EBITDA margin of 17.1percent (Q2 2010: 13.2 percent). Preliminary profit before interest and tax(EBIT) increased to EUR 33.7 million (Q2 2010: EUR 17.2 million), resultingin an EBIT margin of 12.6 percent (Q2 2010: 8.4 percent). Preliminaryprofit for the second quarter after taxes and minority interests was up atEUR 22.5 million (Q2 2010: EUR 10.9 million). This corresponds to earningsper share of EUR 0.32 - double the same figure for the previous year.Group revenue for the first six months of the year totaled EUR 478.7million (H1 2010: EUR 355.6 million). The EBITDA margin amounted to 15.0percent (H1 2010: 8.6 percent). Revenue in the light equipment segment wasup 26.0 percent at EUR 183.7 million during the first half-year. Thecompact equipment segment proved a major growth driver, generating revenueof EUR 202.4 million, an increase of 61.5 percent on the previous year.'These strong growth rates bear testament to our strategies - primarily ourdecision to leverage the synergies of our existing sales network todistribute compact equipment outside of Europe,' continues Richard Mayer.Favorable weather conditions brought an early start to the constructionseason in the US and Europe. The start of the 'traditional' constructionseason (April to June) further bolstered Group performance as demand forequipment and services accelerated. Professional rental companies alsocontinued to rejuvenate their fleets and invest in new equipment.Forecast adjusted upward - continued demandOn the back of these unusually positive results, the Executive Board uppedits forecast for the full 2011 fiscal year at the end of July and nowexpects revenue to total between EUR 910 and 930 million (previousforecast: EUR 880 to 920 million) and the EBITDA margin to amount tobetween 13 and 14 percent (previous forecast: 12 to 13 percent). 'The firsthalf-year is typically our strongest period. However, all signs remainpositive for the second half of the year. Even if economic growth cools inour core markets, we expect demand for our products to remain high,bolstered in part by our sales strategies. We therefore remain committed toour target of generating at least EUR 1 billion in revenue in 2012 andachieving an EBITDA margin in excess of 15 percent,' reports Günther C.Binder, Chief Financial Officer of Wacker Neuson SE.Wacker Neuson SE becomes a group holding companyOn May 26, 2011, the overwhelming majority of shareholders at the AGMapproved the proposal to drop down operating activities for the lightequipment segment in Germany (sales, production and logistics) to threewholly owned affiliates headquartered in Munich. This transition came intoeffect on July 28, 2011 upon entry in the Register of Companies. WackerNeuson SE continues to own over 30 other affiliates (primarily salesaffiliates outside of Germany). The company now operates as a managementholding with a central management structure that retains central Group andcorporate functions. The reorganization has no impact for shareholders. Changes to managementDr. Ulrich Wacker has stepped down from his position on the SupervisoryBoard due to health reasons. His resignation was effective as of July 28,2011. 'On behalf of the Executive Board, I would like to thank Dr. UlrichWacker for his outstanding contribution to the company at both ExecutiveBoard and Supervisory Board level. He represents the fifth generation ofthe Wacker family and it was an honor for all of us to work with him. Dr.Wacker was at the head of the company for over thirty years. He was aprimary driving force behind the expansion of the Group and its brand,building a platform for our continued success,' concludes Richard Mayer.The Group intends to submit an application for the judicial appointment ofDr. Matthias Bruse, attorney-at-law and founding partner of the P+PPöllath+Partners law firm based in Munich, to the Supervisory Board. Hewill replace Dr. Wacker for the interim period until the next AGM. Dr.Bruse knows the company extremely well and served as a member of theSupervisory Board prior to the merger.On September 1, 2011, Cem Peksaglam will assume the position of CEO ofWacker Neuson SE. Mr. Peksaglam is a highly experienced manager who hasmade a name for himself on the international stage. He succeeds Dr. GeorgSick, who left the Executive Board on September 15, 2010. Table: Revenue and earnings1*Key figuresin EUR million Q2/2011; Q2/2010; Change as a %; H1/2011; H1/2010; Change as a %Revenue 266.9; 205.3; 30.0; 478.7; 355.6; 34.6Gross margin as a % 32.6; 33.0; -0.4 PP; 32.6; 31.0; 1.6 PPEBITDA 45.7; 27.0; 69.3; 71.6; 30.7; 133.2EBITDA margin as a % 17.1; 13.2; 3.9 PP; 15.0; 8.6; 6.4 PPEBIT 33.7; 17.2; 95.9; 48.6; 11.2; 333.9EBIT margin as a % 12.6; 8.4; 4.2 PP; 10.2; 3.2; 7.0 PPEBT 32.8; 15.8; 107.6; 46.7; 9.1; 413.2Profit for the period 22.5; 10.9; 106.4; 31.5; 5.2; 505.8Earnings per share 0.32; 0.16; 100.0; 0.45; 0.07; 542.91All figures include effects from purchase price allocation; differencesmay occur as a result of figures being rounded up or down. PP = percentagepoints. Expenses for service technicians have been reported in the incomestatement under manufacturing costs since Q1 2011. Previously, this costfactor was reported under selling expenses. This adjustment was made toreport business activities more clearly under earnings. Expenses forservice technicians incurred during the period under review (half-year)amounted to EUR K 6,181. The equivalent figures from the previous year wereadjusted by an amount of EUR K 6,080. For the second quarter expenses forservice technicians amounted to EUR K 3,191 (Q2/2010: EUR K 2,877).Your contact partner:Wacker Neuson SE Katrin Yvonne NeufferHead of Corporate Communications /Investor RelationsPreussenstr. 41 80809 Munich Tel: +49-(0)89-35402-173katrin.neuffer@wackerneuson.com www.wackerneuson.comAbout Wacker NeusonWacker Neuson SE is a global manufacturer of light and compact equipment.With over 30 affiliates and more than 180 locations across the globe, thecompany offers an exceptionally broad portfolio of products and services. Manufacturing activities are distributed across three German, one Austrian,two American and one Philippine production sites. Almost all productsmanufactured by the company are branded Wacker Neuson. The only exceptionsto this in Europe are Kramer Allrad products and Weidemann-brandedagricultural machinery. With over 300 product categories and complementaryrental, spare parts and repair services, Wacker Neuson is the partner ofchoice among professional users in construction, gardening, landscaping andagriculture, as well as among municipal bodies and companies in theindustrial and recycling sectors.End of Corporate News---------------------------------------------------------------------11.08.2011 Dissemination of a Corporate News, transmitted by DGAP - acompany of EquityStory AG.The issuer is solely responsible for the content of this announcement.DGAP's Distribution Services include Regulatory Announcements,Financial/Corporate News and Press Releases.Media archive at www.dgap-medientreff.de and www.dgap.de---------------------------------------------------------------------Language: English Company: Wacker Neuson SE Preußenstr. 41 80809 München Germany 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 --------------------------------------------------------------------- 135235 11.08.2011
