16.03.2015
Wacker Neuson SE DE000WACK012
DGAP-News: Wacker Neuson SE: 2014 a record year for the Wacker Neuson Group
DGAP-News: Wacker Neuson SE / Key word(s): Final Results/Forecast
Wacker Neuson SE: 2014 a record year for the Wacker Neuson Group
16.03.2015 / 09:55
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2014 a record year for the Wacker Neuson Group
(Munich, March 16, 2015) International light and compact equipment
manufacturer Wacker Neuson Group achieved record results for 2014 across
most key performance indicators. The Group met its increased profit and the
revenue forecast. The Wacker Neuson Group plans to continue the successful
expansion strategy in 2015.
Revenue rises to EUR 1.28 billion
Despite challenging market conditions, the Wacker Neuson Group reported a
rise in revenue and profits for 2014. Group revenue increased 11 percent to
a new record high of EUR 1.28 billion (2013: EUR 1.16 billion) and was thus
in line with the company's forecast (EUR 1.25 to 1.30 billion). Adjusted by
currency effects, this corresponds to a growth of 12 percent.
Business in Central Europe and North America was comparatively robust.
However, South America developed weaker than expected. "The fact that our
business in Europe grew by 12 percent despite regional weaknesses shows
that our strategy is delivering," explains Cem Peksaglam, CEO of Wacker
Neuson SE. "In North America, a vigorous economy and the expansion of our
dealer network helped drive growth in the region." Revenue for the Americas
grew by 9 percent (11 percent when adjusted by currency effects), while
revenue in the Asia-Pacific region increased by 8 percent (also 11 percent
when adjusted by currency effects). All regions thus achieved double-digit
growth relative to the previous year in local currencies.
Breaking business down by segment, compact equipment was again the growth
driver (share of total Group revenue: 47 percent), reporting a 17-percent
increase on the previous year. "Broadening the reach of our compact
equipment within Europe and beyond is paying dividends. We are gaining many
new users in the agricultural and construction sectors. Companies in the
gardening and landscaping sectors as well as municipal bodies and other
industries are also investing in compact, powerful machines which increase
the efficiency of their operations," explains Peksaglam. The light
equipment segment (revenue share: 32 percent) reported 4-percent growth
relative to the previous year (6 percent when adjusted by currency
effects). Revenue in the services segment - which includes service and
spare parts - increased by 10 percent (revenue share: 21 percent).
Improved profitability
Profit before interest, tax, depreciation and amortization (EBITDA) at the
Wacker Neuson Group amounted to EUR 196 million, a rise of 28 percent
compared with the previous year. The EBITDA margin was thus 15.3 percent
(2013: EUR 153 million; 13.2 percent). Profit before interest and tax
(EBIT) increased 43 percent to EUR 136 million. The EBIT margin was up at
10.6 percent (2013: EUR 95 million; 8.2 percent). The Group achieved its
profit forecast, which it had raised in November (EBITDA margin: 14.5 to
15.5 percent; EBIT margin: 10.0 to 11.0 percent). Net profit for the period
came to EUR 92 million (2013: EUR 61 million). Net earnings per share grew
49 percent to EUR 1.30 (2013: EUR 0.87) - a record high for the Group. This
increase in profitability is due to the Group's progress in the execution
of its strategy, a favorable regional and product mix across the light and
compact equipment segments and savings from ongoing cost and process
optimization measures across the Group.
Appropriation of net profit
The Executive Board and Supervisory Board aim to share the Group's
successes from 2014 with shareholders and will therefore recommend a
dividend payout of EUR 0.50 per share at the upcoming AGM on May 27, 2015
(2013: EUR 0.40; 2012: EUR 0.30). This represents a distribution ratio of
approximately 39 percent on consolidated earnings, which is in line with
the Group's long-term dividend policy.
Implementing growth strategies - further internationalization
In line with its principle of developing and manufacturing products "in the
region, for the region", the Group relocated production of skid steer
loaders from the Austrian plant in Hörsching to an existing plant near
Milwaukee (Wisconsin, USA) at the end of 2014. This move will enable the
Group to increase its focus on the North American market, which is by far
the largest for this product group. "We want to grow fastest outside of
Europe and have identified enormous potential here. Our long-term goal is
to increase the revenue we generate outside of Europe from the current
level of 29 percent to around 40 percent. Of course, this does not mean
that we will be neglecting the European market. We still see many
opportunities for expanding our business here too," continues Peksaglam. To
increase sales and distribution of light and compact equipment in emerging
markets such as South America and Asia, the Group established new sales
affiliates in Peru, Colombia and China in 2014.
Benchmark innovations
Over the past year, the Group has strengthened its pioneering position in
product and operator safety and environmental protection. The latest
zero-emissions highlights include battery-powered rammers, electric wheel
loaders and dual power excavators. The Group's efforts here were recognized
in a number of recent industry awards. The AS50 battery-powered rammer, for
example, received the "bi-GaLaBau Green Award in Gold" in Nuremberg at
GaLaBau, the international trade show for the gardening and landscaping
industry. The dual power excavator was awarded the MTP gold medal at the
Intermasz trade show in the Polish city of Poznań - an award that
recognizes particularly innovative products. The dual power excavator also
received the Gold Innovation Prize at Intermat 2015, the international
trade show for construction equipment and building technology.
Positive outlook for 2015
The Group plans to continue its expansion strategy and is optimistic for
2015 - despite challenging conditions in diverse markets such as Russia,
Chile and Brazil. "The outlook for Central Europe and North America is
promising. As long as 2015 does not bring any further economic, financial
or currency-related crises, we expect to grow between 9 and 13 percent in
revenue to amount between EUR 1.40 and 1.45 billion," states Peksaglam. "If
market expectations regarding the pause in growth in the agricultural
business materialize in 2015, we will compensate for this in other
segments." The Group's EBIT margin is expected to be between 9.5 and 10.5
percent in 2015. The Wacker Neuson Group has earmarked a total of around
EUR 95 million for investments during the course of fiscal 2015 (2014: EUR
90 million).
Table: Revenue and earnings
Key figures in EUR Million_Q4/14_Q4/13_Change_FY/14_FY/13_Change
Revenue_348_297_17%_1,284_1,160_11%
EBITDA_48_42_14%_196_153_28%
EBITDA margin as a %_13.9_14.3_-0.4PP_15.3_13.2_2.1PP
EBIT_33_28_18%_136_95_43%
EBIT margin as a %_9.4_9.4_0.0PP_10.6_8.2_2.4PP
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
The Wacker Neuson Group is an international family of companies and a
leading manufacturer of light and compact equipment with over 40 affiliates
and 140 sales and service stations. The Group offers its customers a broad
and deep portfolio of products, a wide range of services and an efficient,
global spare parts service. The product brands Wacker Neuson, Kramer and
Weidemann belong to the Wacker Neuson Group. 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. In 2014, the Group achieved
revenue of EUR 1.28 billion, employing around 4,400 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: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart
End of News DGAP News-Service
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