Wacker Neuson SE revises the guidance for the fiscal year 2024 and publishes preliminary business figures for the first half of 2024

EQS-Ad-hoc: Wacker Neuson SE / Key word(s): Change in Forecast Wacker Neuson SE revises the guidance for the fiscal year 2024 and publishes preliminary business figures for the first half of 2024 17-Jul-2024 / 14:48 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. Disclosure of an inside information acc. to Article 17 MAR

Wacker Neuson SE revises the guidance for the fiscal year 2024 and publishes preliminary business figures for the first half of 2024

Munich, July 17, 2024 – the Executive Board of the Wacker Neuson SE (ISIN: DE000WACK012) decided to revise the guidance for the fiscal year 2024. The reasoning behind this is based on persistently weak demand in the construction and agricultural machinery markets, characterised by persistently high dealer inventories, and the uncertain economic outlook. Contrary to the forecast at the beginning of the year, market demand is not recovering as expected. Order intake and revenues remain at a low level. Forward-looking industry indicators do not point to a recovery in the short term.

For the current fiscal year the Executive Board now anticipates the revenue between EUR 2,300 million and EUR 2,400 million (previously: 2,400 und 2,600 Mio. Euro) with an EBIT margin in the range of 6.0 to 7.0 percent (previously: 8.0 to 9.0 percent). Investments for the full year are expected to amount to around EUR 100 million (previously: EUR 120 million). The net working capital ratio at the year-end of 2024 is expected to amount to around 34 percent (previously: around 30 percent). The revised guidance reflects the business development in the first half of 2024 and accounts for the possible changes in the economic development over the course of the year.

Based on the first preliminary business figures the company generated a preliminary revenue of EUR 611.7 million in the second quarter of 2024, amounting to a decrease of 12.5 percent compared to the previous year (Q2/2023: EUR 698.7 million). Preliminary earnings before interest and taxes (EBIT) were at EUR 46.9 million, 47.2 percent down compared to the previous year (Q2/2023: EUR 88.9 million). The preliminary EBIT margin in the second quarter was 7.7 percent (Q2/2023: 12.7 percent).