Wacker Neuson SE: Ad hoc press release in line with Article 15 of the German Securities Trading Act (WpHG)
2011 a record year for Wacker Neuson; further growth expected in 2012Munich, 03-Feb-2012
Based on preliminary figures, Group revenue for fiscal 2011 rose to EUR 991.6 million, up 31 percent on the previous year (2010: EUR 757.9 million). This is an all-time high in the company’s history. In keeping with its growth strategy, Wacker Neuson focused on extending the reach of its compact and light equipment offering in core markets in Europe and North America in 2011. Successful sales of compact equipment and an increasingly broad footprint across market segments bolstered growth here. Beyond the construction industry, Wacker Neuson equipment is also widely used in agriculture, gardening, landscaping, industry and the municipal sector. In the fourth quarter of 2011, predominantly favorable weather conditions in Europe and the US also had a positive effect on Group figures.
Earnings figures also reached an all-time high, mirroring the Group’s strong revenue growth. Mid-2011, the Wacker Neuson Group was reorganized into a holding structure, further increasing efficiency levels. With a preliminary figure for profit before interest, tax, depreciation and amortization (EBITDA) of around EUR 162.6 million (2010: EUR 77.8 million) and therefore an EBITDA margin of 16.4 percent (2010: 10.3 percent), Wacker Neuson also showed much stronger profitability figures. This allowed the Group to again exceed its projections for the previous year (revenue: around EUR 945 million; EBITDA margin: around 15 percent).
During the course of the annual impairment test, appreciation on the brand value was recognized on the balance sheet in December 2011. This created one-off earnings before interest and tax in the amount of EUR 10.8 million. This precisely matches the impairment on the brand value recognized in 2009 as a result of the financial crisis.
The Wacker Neuson Group’s financial and asset position remains very healthy with a high equity ratio (before minority interests) of around 75 percent and a low net financial debt of around 10 percent.
The Executive Board expects further growth in fiscal 2012.
The complete Annual Report (including the forecast for fiscal 2012) will be published on March 22, 2012 in Munich during a press conference detailing the Group’s financial results.
Additional information on Wacker Neuson SE shares:
Admission: Regulated market / Prime Standard; Frankfurt Stock Exchange
Company headquarters: Germany
Wacker Neuson SE
80809 Munich, Germany
Tel. + 49 - (0)89 - 354 02 – 173