DGAP-News

Wacker Neuson SE: Wacker Neuson Group: Market squeeze in third quarter of 2015

DGAP-News: Wacker Neuson SE / Key word(s): 9-month figures/Preliminary
Results
Wacker Neuson SE: Wacker Neuson Group: Market squeeze in third quarter
of 2015

21.10.2015 / 18:35

---------------------------------------------------------------------

Wacker Neuson Group: Market squeeze in third quarter of 2015

(Munich, October 21, 2015) Global manufacturer of light and compact
equipment, the Wacker Neuson Group, reported a new record revenue of over
EUR 1 billion for the first nine months of 2015. The market experienced a
sharp, unexpected squeeze, however, in Q3. The company revised its forecast
for the year downwards as a result of this development; however, it still
expects to report record revenue for 2015.

High levels of volatility in 2015
Based on preliminary figures, Group revenue for the first nine months of
2015 rose 8.7 percent relative to the prior year to reach EUR 1,017.4
million (9M 2014: EUR 936.2 million). Adjusted to discount currency
effects, this corresponds to 4.0 percent. Profit before interest and tax
(EBIT) fell 21.5 percent to EUR 81.2 million (9M 2014: EUR 103.5 million).
The EBIT margin thus amounted to 8.0 percent (9M 2014: 11.1 percent).
"Revenue for the first quarter of the year rose by an impressive 11 percent
and by an even stronger 16 percent in Q2. This was followed by an
unexpectedly pronounced slowdown in demand in the third quarter. Revenue in
September fell markedly compared with the previous year. As a result,
revenue for the third quarter lies below the same figure for the previous
year, which was a strong period for the Group. Nevertheless, this is the
first year that we have been able to report revenue in excess of EUR 1
billion for the first nine months of the year," explains Cem Peksaglam, CEO
of Wacker Neuson SE.

Varied performance across segments
In Europe, revenue for the first nine months of the year rose 6.0 percent
compared with the previous year. At 72 percent, this region accounts for
the lion's share of total revenue. Currency effects had a major impact on
performance in the Americas and Asia-Pacific. In the Americas, the Wacker
Neuson Group reported nominal revenue growth of 15.4 percent. When adjusted
to discount currency effects, revenue for this region remained at the same
level as the previous year. Revenue for Asia-Pacific was 22.6 percent
higher than the figure reported last year (+12.0 percent when adjusted to
discount currency effects).

Revenue for the compact equipment segment increased by 14.8 percent
relative to the previous year (+13.3 percent when adjusted to discount