DGAP-News: Wacker Neuson SE: Wacker Neuson determined to remain on growth path in 2013
(firmenpresse) - DGAP-News: Wacker Neuson SE / Key word(s): Quarter Results/Interim
Report
Wacker Neuson SE: Wacker Neuson determined to remain on growth path in
2013
14.05.2013 / 07:53
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Wacker Neuson determined to remain on growth path in 2013
Slight drop in revenue in first quarter - positive forecast for year as a
whole
(Munich, May 14, 2013) The Wacker Neuson Group reported a slight drop in
revenue and earnings for the first quarter of 2013 relative to the previous
year's quarter. The company expects business to improve over the course of
the year, however.
Squeeze on quarterly revenue
A weak European economy was one of the main factors that dampened demand
for light and compact construction equipment in the first quarter of 2013.
In addition, the Group's strong performance in first quarter of 2012
resulted in an above-average baseline for comparison. At EUR 257.1 million,
Group revenue for the first three months of the year was down 6 percent on
the unusually strong prior-year figure (previous year: EUR 274.0 million).
Revenue from the light equipment and compact equipment segments fell by 8
percent and 9 percent respectively. In contrast, the services segment saw
revenue rise by 3 percent. As in the previous year's quarter, agricultural
machines accounted for around 17 percent of Group revenue. 'Ongoing
financial problems across Europe are making it difficult to plan
construction projects and making our customers reticent to invest,' states
Cem Peksaglam, CEO of Wacker Neuson SE. 'Business in the US also developed
below our expectations in the first quarter of the year. However, we are
confident that things will pick up over the course of the year.' A long
winter delayed the start of the construction season in the northern
hemisphere. In addition, some customers put investments on hold until April
so that they could purchase equipment at or immediately after bauma, the
world's largest construction trade fair.
Core markets in Europe and the Americas below previous year
At around 70 percent, the Europe region continues to account for the lion's
share of revenue. Overall, revenue from Europe was 8 percent down on the
prior-year quarter. Revenue from the Americas, the Group's second largest
market, fell by just 2 percent. In the Asia-Pacific region, Wacker Neuson
reported a rise in revenue of 2 percent.
Drop in revenue and one-off items impact profit
The drop in revenue and one-off items had a negative impact on profit
figures. Profit before interest, tax, depreciation and amortization
(EBITDA) thus fell 36.1 percent in the first three months of the year to
EUR 24.8 million. This corresponds to an EBITDA margin of 9.7 percent
(prior-year quarter: EUR 38.8 million; EBITDA margin: 14.2 percent). Profit
before interest and tax (EBIT) was down at EUR 11.1 million and the EBIT
margin fell to 4.3 percent (prior-year quarter: EUR 26.3 million; EBIT
margin: 9.6 percent). Profit for the period thus amounted to EUR 6.4
million (prior-year quarter: EUR 17.1 million). 'The weak first quarter of
2013 shows just how volatile our industry has become. In 2012, we saw
revenue rise by 29 percent whereas this year, we have seen revenue fall. We
have to make our production processes even more flexible and leverage
synergies more actively across all areas of the Group to absorb these
extreme fluctuations more effectively,' adds Peksaglam.
Strategies for further profitable growth in place
Wacker Neuson's product portfolio enjoys international reach. In the past
three years alone, the Group has channeled over EUR 300 million into new
production facilities, efficient production processes, sales and service
capabilities and ground-breaking product innovations. Wacker Neuson is
carving out new growth opportunities by increasing penetration in growth
markets, above all South America, Eastern Europe, Africa and Asia. To make
the most of this growth potential, it will further tailor its products and
services to the conditions and requirements of different regions. Wacker
Neuson is also focusing on increasing its presence in established markets
such as North America and Europe, which offers growth opportunities even
under the current difficult market conditions. 'Europe is a very diverse
market, varying dramatically from region to region. This is something that
all players - from manufacturers through dealers to customers - have to
deal with,' explains Peksaglam. 'The overall positive mood at bauma
together with developments in recent weeks give us every reason to be
optimistic about the remainder of the year.'
Wacker Neuson is confident that it will make up for the shortfall from the
first quarter as the year progresses. The overall forecast for the year
remains unchanged, with revenue expected to increase to around EUR 1.2
billion (2012: EUR 1,091 million) overall and the EBITDA margin to exceed
13.0 percent (2012: 13.0 percent).
Facts and figures: Wacker Neuson Group
in EUR million_Q1 2013_Q1 2012_DifferenceYour contact partner:
Revenue_257.1_274.0_-6.2%
EBITDA_24.8_38.8_-36.1%
EBITDA margin as a %_9.7_14.2_-4.5PP
EBIT_11.1_26.3_-57.8%
EBIT margin as a %_4.3_9.6_-5.3PP
Profit for the period_6.4_17.1_-62.5%
Earnings per share in EUR_0.09_0.24_-62.5%
Wacker Neuson SE
Katrin Yvonne Neuffer
Head of Corporate Communication /
Investor Relations
Preussenstr. 41
80809 Munich Germany
Tel: +49-(0)89-35402-173
katrin.neuffer(at)wackerneuson.com
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
Allrad, Kramer and Weidemann. In 2012, the Group achieved revenue of EUR
1.1 billion and employed over 4,000 people worldwide.
End of Corporate News
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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: info(at)wackerneuson.com
Internet: www.wackerneuson.com
ISIN: DE000WACK012
WKN: WACK01Indices: 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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