DGAP-Adhoc Wacker Neuson publishes preliminary results for fiscal 2020
DGAP-Ad-hoc: Wacker Neuson SE / Key word(s): Preliminary Results
Disclosure of an inside information acc. to Article 17 MAR
Wacker Neuson publishes preliminary results for fiscal 2020
Munich, January 20, 2021 - The Wacker Neuson Group expects Group revenue for fiscal 2020 to amount to approximately EUR 1,610 million (2019: EUR 1,901.1 million) based on preliminary, unaudited figures. This is slightly higher than the analyst consensus provided by an external service company for the Group (consensus: EUR 1,588.0 million).
On the basis of preliminary figures, profit before interest and tax (EBIT) amounts to approximately EUR 73 million (2019: EUR 153.1 million) and is thus significantly lower than market expectations (consensus: EUR 94.4 million). An additional non-cash allowance for doubtful receivables in the Americas region had a major impact on the development of profit in the fourth quarter. Adjusted for this one-off effect, EBIT for fiscal 2020 would amount to approximately EUR 91 million.
The Group has made more rapid progress in executing plans to reduce net working capital than projected in its last forecast. Preliminary figures now put this indicator at approximately EUR 490 million (December 31, 2019: EUR 811.7 million, September 30, 2020: EUR 636.3 million). This reduction has a correspondingly positive impact on cash flow from operating activities.
The Group will publish its final results for fiscal 2020 on March 25, 2021.
Explanations of the indicators used here can be found from page 144 onwards in the 2019 Wacker Neuson Group Annual Report.
Wacker Neuson SE
Head of Investor Relations
80809 Munich, Germany
20-Jan-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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|Company:||Wacker Neuson SE|
|Phone:||+49 - (0)89 - 354 02 - 0|
|Fax:||+49 (0)89 354 02 - 298|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1162048|
|End of Announcement||DGAP News Service|
1162048 20-Jan-2021 CET/CEST