DGAP-News

Wacker Neuson SE: Wacker Neuson reports record revenue in Q1 2017

DGAP-News: Wacker Neuson SE / Key word(s): Quarterly / Interim Statement Wacker Neuson SE: Wacker Neuson reports record revenue in Q1 2017 11.05.2017 / 07:43 The issuer is solely responsible for the content of this announcement. (Munich, May 11, 2017) For Q1 2017, Munich-based international light and compact equipment manufacturer Wacker Neuson reported a record rise in revenue for the first quarter of the year. Adjusted profit before interest and tax (EBIT) increased significantly. At the close of Q1, order intake and backlog showed a clear rise over the figures posted for the prior-year period. The company has confirmed its forecast for fiscal 2017 as a whole.

New revenue record for Q1 2017

"The year has got off to a very promising start for our Group. The investment mood among many national and international customers in most of our target industries was very positive. This pushed our revenue to a new record high for a first quarter," explains Cem Peksaglam, CEO of Wacker Neuson SE. Revenue for the first quarter of 2017 rose to EUR 338.5 million and was thus 7 percent higher than the previous year (previous year: EUR 316.4 million). Adjusted to discount currency effects, this corresponds to an increase of 6 percent.

The Europe region, which accounts for the largest share of Group revenue at 73 percent, reported a 9-percent increase in Q1 2017 revenue relative to the previous year. "Business developed strongly in Europe, in particular in Germany and France. We also reported high double-digit growth from our business with key accounts in Europe. In addition, after experiencing significant downturns in recent years, the agricultural sector has started to recover, which is reflected in high order intake for our Weidemann and Kramer brands," adds Peksaglam. Revenue in the Americas region grew even more rapidly than in Europe, with the Group reporting a 13-percent increase relative to the previous year. "Demand in the oil and gas sector in North America remained weak. However, we benefited from stronger demand in other areas, in particular the construction industry. Moving beyond persistent problems with the start-up of our skid steer loader production, these machines were now once again able to contribute to growth in the region during the first quarter," continued Peksaglam. "Business in South America also showed positive momentum as anticipated, with the region reporting double-digit gains. Our recently announced OEM partnership with Brazilian backhoe loader manufacturer Randon will further enhance our product portfolio for South America."