Wacker Neuson SE / Half Year Results/Quarter Results13.08.2010 07:39Dissemination of a Corporate News, transmitted byDGAP - a company of EquityStory AG.The issuer / publisher is solely responsible for the content of this announcement.---------------------------------------------------------------------------Wacker Neuson SE strengthens earnings power in first half of fiscal 2010Increased demand for construction and agricultural machinery across allregions - return to the profit zone - promising market outlook - companyraises overall growth forecast for 2010(Munich, August 13, 2010) The Wacker Neuson Group significantly increasedrevenue for the first half-year relative to the previous year, enabling thecompany to return to the profit zone as planned. The upswing was reflectedin a clear rise in revenue across all regions and business segments. Thepositive market climate has led the company to revise its forecast forfiscal 2010 upwards.Revenue and earnings up significantly in the first half-yearThe first six months of fiscal 2010 were characterized by a rise in demandfor construction and agricultural machinery fuelled by the economicrecovery. The Wacker Neuson Group benefited from this development reflectedin a clear rise in revenue by 21.0 percent to EUR 355.6 million (previousyear: EUR 293.8 million). With net earnings totaling EUR 5.2 million(previous year: EUR -15.2 million), the Group returned to the profit zoneas planned at the half-year mark. Revenue was up on the previous year inall regions and business segments. Economic recovery continued in theAmericas (+63.3 percent) and the Group also reported clear revenue gains inEurope (+11.9 percent) and Asia (+18.2 percent). A rise in constructionactivity and catch-up effects led to a continued upward trend in lightequipment sales (+40.0 percent). The compact equipment segment alsoexperienced significant growth (+16.0 percent) as supplier bottlenecks,which initially delayed deliveries, gradually began to clear. 'For ourbusiness, the upbeat trends and strong increase in order volume in thecompact equipment segment mean that we are caught in a v-shaped recoverycycle,' explains Dr. Georg Sick, CEO and President of Wacker Neuson SE. Theorder book for compact equipment at the reporting date was up 350 percenton the previous year.Earnings up for Wacker Neuson At EUR 205.3 million, second-quarter revenue for the Group was up 31.2percent on the previous year's figure of EUR 156.5 million. The secondquarter of 2010 in particular is testament to the lasting impact of thecompany's long-term cost-cutting measures. Profit before interest, tax,depreciation and amortization (EBITDA) rose to EUR 27.0 million (previousyear: EUR 13.4 million) and net earnings to EUR 10.9 million (previousyear: EUR 1.4 million). 'The company's earnings power has rebounded fasterthan might be expected thanks to the cost-cutting measures we implementedat an early stage. Our EBITDA margin of 13.2 percent in the second quartersees us return to pre-crisis profitability. The recovery across marketsneeds to continue, however, if we are to be sure of maintaining thislevel,' continues Sick. Wacker Neuson remains on firm financial footing andits finances are extremely healthy, with an equity ratio of 79 percent andlow net financial debt. Working capital increased in line with revenue asplanned.Forecast for entire year adjusted upwardsAs a result of the positive market climate the Wacker Neuson Group nowexpects revenue for fiscal 2010 to be over ten percent up on the figure forlast year (2009: EUR 597.0 million). Profit before interest, tax,depreciation and amortization (EBITDA) is expected to improve and accountfor at least 9.0 percent of revenue (2009: 4.6 percent).Key figures: Wacker Neuson Group*In EUR millionQ2_2010/Q2_2009/Difference/H1_2010/H1_2009/DifferenceRevenue 205,3/156,5/+31,2%/355,6/293,8/+21,0%EBITDA 27,0/13,4/+101,4%/30,7/1,1/-EBITDA margin 13,2%/8,6%/-/8,6%/0,4%/- EBIT 17,1/3,2/+430,4%/11,2/-19,3/-EBIT margin 8,4%/2,1%/-/3,2%/-6,6%/- EBT 15,8/2,6/+511,1%/9,1/-20,4/-Profit for the period 10,9/1,4/+670,8%/5,2/-15,2/-* All figures include effects from purchase price allocation; differencesmay occur as a result of figures being rounded up or down.About Wacker NeusonWacker Neuson SE is a global manufacturer of light and compact equipment.With over 30 affiliates and more than 180 sales and service stations acrossthe globe, the company offers an exceptionally broad product portfolio.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.Your contact partner at Wacker Neuson:Wacker Neuson SE Katrin Neuffer Preussenstr. 41 80809 Munich, Germany Tel. +49 - (0)89 - 354 02 - 173 katrin.neuffer@wackerneuson.com Internet: www.wackerneuson.com13.08.2010 Ad hoc announcement, Financial News and Press Release distributed by DGAP.Media archive at www.dgap-medientreff.de and www.dgap.de--------------------------------------------------------------------------- Language: EnglishCompany: Wacker Neuson SE Preußenstr. 41 80809 München DeutschlandPhone: +49 - (0)89 - 354 02 - 0Fax: +49 - (0)89 - 354 02 - 390E-mail: info@wackerneuson.comInternet: www.wackerneuson.comISIN: DE000WACK012WKN: WACK01Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Hamburg, München, Düsseldorf, Berlin, Hannover, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------
