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Wacker Neuson SE: Wacker Neuson determined to remain on growth path in 2013

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