05.08.2014
Wacker Neuson SE DE000WACK012
DGAP-News: Wacker Neuson SE: Strong Q2 profit for Wacker Neuson in 2014
DGAP-News: Wacker Neuson SE / Key word(s): Half Year Results/Forecast
Wacker Neuson SE: Strong Q2 profit for Wacker Neuson in 2014
05.08.2014 / 07:40
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Strong Q2 profit for Wacker Neuson in 2014
(Munich, August 5, 2014) Munich-based manufacturer of light and compact
equipment, Wacker Neuson, posted a clear profit increase in the second
quarter of 2014, with revenue remaining at the same level as the previous
year. The Group posted new record revenue and earnings figures for the
first six months of the year. The Group has confirmed its forecast for
fiscal 2014.
Strong second quarter profit
Wacker Neuson reported revenue of EUR 328.4 million for the second quarter
of 2014, bringing the Group close to the record figure reported for the
prior-year period (Q2 2013: EUR 329.0 million). Adjusted to discount
currency fluctuations, revenue increased by 2 percent. The short, mild
winter in Europe meant an early start to the construction season in 2014.
Construction companies brought forward a number of investments, resulting
in a strong first quarter for Wacker Neuson in 2014 (Q1 2014 revenue: +13
percent on previous year).
Wacker Neuson reported a marked increase in earnings compared to the
previous year. Profit before interest and tax (EBIT) reached EUR 41.3
million in the second quarter of 2014, an increase of 41 percent compared
to the previous year (Q2 2013: EUR 29.3 million). The Group's EBIT margin
thus grew from 8.9 to 12.6 percent, with the EBITDA margin increasing from
13.6 to 17.3 percent.
Record six months in 2014
The first six months of 2014 saw revenue grow by 6 percent on the previous
year to EUR 620.0 million (H1 2013: EUR 586.1 million). This was a new
record high for the Group. Adjusted to discount currency fluctuations,
Wacker Neuson achieved a 9-percent growth in revenue. Revenue developed
particularly well in Europe, while exchange rate fluctuations brought
results for the Americas and Asia-Pacific below the previous year's
figures. "We were able to further expand our market position in Europe,
boosting revenue here by 10 percent," explains Cem Peksaglam, CEO of Wacker
Neuson SE. "We also reported growth in North America. However, South
America and Asia-Pacific developed below our expectations due to falling
demand and currency fluctuations." The compact equipment segment proved to
be a key growth driver, with revenue increasing 13 percent. This success is
fueled by the Group's strategy to leverage its existing global sales
network in a bid to expand into new markets and strengthen its position in
existing markets. "Business with our Weidemann and Kramer branded equipment
also developed well. Our success here arises from the fact that our
innovative machines are meeting the need to increase efficiency and
productivity in the agricultural sector. Our double-digit increase in
revenue from agricultural equipment is further confirmation that we are on
the right path with our strategy to diversify into this area," continues
Peksaglam. The light equipment segment posted a 5-percent decrease in
revenue due to a drop in demand and currency fluctuations. Adjusted to
discount these fluctuations, revenue remained slightly above the previous
year's level. Revenue in the services segment grew by 10 percent.
Profit before interest, tax, depreciation and amortization (EBITDA) grew 33
percent to EUR 93.0 million (H1 2013: EUR 69.7 million). This corresponds
to an EBITDA margin of 15.0 percent (H1 2013: 11.9 percent). EBIT increased
by 57 percent to EUR 63.4 million (H1 2013: EUR 40.4 million), leading to
an improved EBIT margin of 10.2 percent (H1 2013: 6.9 percent). These
increases in profitability stem from sustainable measures introduced by the
Group to lower costs and optimize work processes.
Growth forecast for 2014 confirmed
The Group remains optimistic about the current year. "Strong traction from
established markets in Europe and North America, plus the momentum from our
current strategy path are all set to benefit our business over the current
year," explains Peksaglam. "Our order books are full and order intake for
compact equipment up to the end of June was 30 percent higher than the same
time last year." The Group is still predicting total revenue for the year
of EUR 1.25 to 1.30 billion (2013: EUR 1.16 billion). The EBITDA margin
should still be on target at 13 to 14 percent (2013: 13.2 percent) with
EBIT expected to lie between 8 and 9 percent (2013: 8.2 percent). The Group
has earmarked around EUR 85 million (2013: EUR 87 million) for investments
in fiscal 2014. EUR 53 million of this has already been invested in the
first six months of the year.
Table: Revenue and earnings
Key figures in EUR Million_Q2/14_Q2/13_Change_H1/14_H1/13_Change
Revenue_328.4_329.0_-0.2 %_620.0_586.1_5.8 %
Gross profit margin as a %_30.7_30.3_0.4 PP_30.1_29.8_0.3 PP
EBITDA_56.8_44.9_26.5 %_93.0_69.7_33.4 %
EBITDA margin as a %_17.3_13.6_3.7 PP_15.0_11.9_3.1 PP
EBIT_41.3_29.3_41.0 %_63.4_40.4_56.9 %
EBIT margin as a %_12.6_8.9_3.7 PP_10.2_6.9_3.3 PP
EBT_39.8_27.5_44.7 %_60.4_36.8_64.1 %
Total profit/loss for the period_28.2_18.5_52.4 %_42.5_24.9_70.7 %
Earnings per share in EUR_0.40_0.26__0.61_0.36
Your contact partner:
Wacker Neuson SE
Katrin Yvonne Neuffer
Head of Corporate Communication/
Investor Relations
Preussenstrasse 41
80809 Munich, Germany
Phone +49-(0)89-35402-173
[email protected]
www.wackerneuson.com
About Wacker Neuson: The Wacker Neuson Group is a leading manufacturer of
light and compact equipment with over 40 affiliates, 140 sales and service
stations and more than 12,000 sales and service partners across the globe.
The Group can trace its roots back to 1848. Wacker Neuson is the partner of
choice among professional users in construction, gardening, landscaping and
agriculture, as well as among municipal bodies and companies in industries
such as recycling and energy. It also offers a global spare parts service.
The Wacker Neuson Group includes the product brands Wacker Neuson, Kramer
and Weidemann. In 2013, the Group achieved revenue of EUR 1.16 billion and
employs over 4,200 people worldwide.
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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: [email protected]
Internet: www.wackerneuson.com
ISIN: DE000WACK012
WKN: WACK01
Indices: SDAX
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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