WACKER NEUSON SE
Wacker Neuson SE: Ad hoc press release in line with Article 15 of the German Securities Trading Act (WpHG)
Munich, 04-Nov-2014
The Wacker Neuson Group has raised its earnings forecast for the current fiscal year as a result of preliminary figures for October. Positive business trends in the third quarter have continued into recent weeks. The Group's revenue forecast remains unchanged.
Group revenue for the third quarter of 2014 amounted to EUR 316.2 million, an increase of 14 percent relative to the previous year (Q3 2013: EUR 276.3 million). Profit before interest, tax, depreciation and amortization (EBITDA) grew 34 percent to EUR 55.1 million in the third quarter. This corresponds to an EBITDA margin of 17.4 percent (Q3 2013: EUR 41.2 million; 14.9 percent). At EUR 40.1 million, profit before interest and tax (EBIT) rose 51 percent, resulting in an EBIT margin of 12.7 percent (Q3 2013: EUR 26.5 million; 9.6 percent).
This outperformance of profitability expectations is attributable to a number of factors, in particular a favorable regional and product mix across light and compact equipment, continued progress in execution of the company's strategy and the increased success of ongoing cost and process optimization measures across all lines of business.
During the first nine months of 2014, revenue increased by 9 percent overall to EUR 936.2 million (9M 2013: EUR 862.4 million). This corresponds to a rise of 11 percent when adjusted to discount currency fluctuations. The EBITDA margin amounted to 15.8 percent (9M 2013: 12.9 percent) and the EBIT margin was reported at 11.1 percent (9M 2013: 7.8 percent).
Initial preliminary figures show that these positive trends continued into October. Against this backdrop, the Executive Board has increased its profit forecast for the year as a whole based on initial preliminary figures for October. The Executive Board now expects an EBITDA margin of between 14.5 and 15.5 percent (previously 13 to 14 percent; 2013: 13.2 percent) and an EBIT margin of between 10 and 11 percent (previously 8 to 9 percent; 2013: 8.2 percent). The new forecast factors in the dip in profitability typically associated with the fourth quarter. The Executive Board confirms its previous Group revenue forecast for fiscal 2014, estimated at between EUR 1.25 and 1.30 billion (2013: EUR 1.16 billion).
The Group will be publishing its nine-month report on November 11, 2014. The company plans to announce its forecast for the coming fiscal year in March 2015 when it publishes its figures for 2014.
Additional information on Wacker Neuson SE shares:
ISIN: DE000WACK012
WKN: WACK01
Admission: Regulated market / Prime Standard; Frankfurt Stock Exchange
Company headquarters: Germany
Your contact:
Wacker Neuson SE
Katrin Neuffer
Preussenstr. 41
80809 Munich
Germany
Phone + 49 - (0)89 - 354 02 - 173
E-mail: ir@wackerneuson.com
Internet: www.wackerneuson.com
The Wacker Neuson Group has raised its earnings forecast for the current fiscal year as a result of preliminary figures for October. Positive business trends in the third quarter have continued into recent weeks. The Group's revenue forecast remains unchanged.
Group revenue for the third quarter of 2014 amounted to EUR 316.2 million, an increase of 14 percent relative to the previous year (Q3 2013: EUR 276.3 million). Profit before interest, tax, depreciation and amortization (EBITDA) grew 34 percent to EUR 55.1 million in the third quarter. This corresponds to an EBITDA margin of 17.4 percent (Q3 2013: EUR 41.2 million; 14.9 percent). At EUR 40.1 million, profit before interest and tax (EBIT) rose 51 percent, resulting in an EBIT margin of 12.7 percent (Q3 2013: EUR 26.5 million; 9.6 percent).
This outperformance of profitability expectations is attributable to a number of factors, in particular a favorable regional and product mix across light and compact equipment, continued progress in execution of the company's strategy and the increased success of ongoing cost and process optimization measures across all lines of business.
During the first nine months of 2014, revenue increased by 9 percent overall to EUR 936.2 million (9M 2013: EUR 862.4 million). This corresponds to a rise of 11 percent when adjusted to discount currency fluctuations. The EBITDA margin amounted to 15.8 percent (9M 2013: 12.9 percent) and the EBIT margin was reported at 11.1 percent (9M 2013: 7.8 percent).
Initial preliminary figures show that these positive trends continued into October. Against this backdrop, the Executive Board has increased its profit forecast for the year as a whole based on initial preliminary figures for October. The Executive Board now expects an EBITDA margin of between 14.5 and 15.5 percent (previously 13 to 14 percent; 2013: 13.2 percent) and an EBIT margin of between 10 and 11 percent (previously 8 to 9 percent; 2013: 8.2 percent). The new forecast factors in the dip in profitability typically associated with the fourth quarter. The Executive Board confirms its previous Group revenue forecast for fiscal 2014, estimated at between EUR 1.25 and 1.30 billion (2013: EUR 1.16 billion).
The Group will be publishing its nine-month report on November 11, 2014. The company plans to announce its forecast for the coming fiscal year in March 2015 when it publishes its figures for 2014.
Additional information on Wacker Neuson SE shares:
ISIN: DE000WACK012
WKN: WACK01
Admission: Regulated market / Prime Standard; Frankfurt Stock Exchange
Company headquarters: Germany
Your contact:
Wacker Neuson SE
Katrin Neuffer
Preussenstr. 41
80809 Munich
Germany
Phone + 49 - (0)89 - 354 02 - 173
E-mail: ir@wackerneuson.com
Internet: www.wackerneuson.com
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