DGAP-Adhoc: Wacker Neuson SE: Wacker Neuson expects EBIT margin to be below recent guidance based on preliminary figures

2020. január 20., hétfő, 20:20





DGAP-Ad-hoc: Wacker Neuson SE / Key word(s): Preliminary Results


Wacker Neuson SE: Wacker Neuson expects EBIT margin to be below recent guidance based on preliminary figures


20-Jan-2020 / 20:20 CET/CEST


Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - 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 expects EBIT margin to be below recent guidance based on preliminary figures





Munich, January 20, 2020 - Based on preliminary and unaudited figures for fiscal 2019, the Wacker Neuson Group expects Group revenue to reach around EUR 1.9 billion, with an EBIT margin of approx. 8.0 percent. In the previously published guidance, the Group expected revenue to come in at the upper end of the range of EUR 1,775 to EUR 1,850 million; the EBIT margin was projected at between 8.3 and 8.8 percent.



Efforts to streamline inventory resulted in large volumes of new equipment being sold off and the impairment of raw materials in North America in particular. This had a dampening effect on profit. Earnings were further affected by the persistently unfavorable product mix.



In light of current developments, the Executive Board approved today the key provisions of a program aimed at reducing costs and increasing efficiency. The Executive Board expects these planned initiatives to yield gradual savings of up to 50 million euros relative to fiscal 2019 over the next two years.



The full financial results for fiscal 2019 will be published on March 16, 2020.



Explanations of the indicators used here can be found on page 158 of the 2018 Wacker Neuson Group Annual Report.




Your contact:

Wacker Neuson SE

Christopher Helmreich

Head of Investor Relations

Preussenstrasse 41

80809 Munich, Germany

+49-(0)89-35402-427

christopher.helmreich@wackerneuson.com
www.wackerneusongroup.com



Additional information on Wacker Neuson SE shares:

ISIN: DE000WACK012

WKN: WACK01

Admission: Regulated market (Prime Standard); Frankfurt Stock Exchange

Company headquarters: Germany



 











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Language: English
Company: Wacker Neuson SE

Preußenstr. 41

80809 München

Germany
Phone: +49 - (0)89 - 354 02 - 0
Fax: +49 (0)89 354 02 - 298
E-mail: ir@wackerneuson.com
Internet: www.wackerneusongroup.com
ISIN: DE000WACK012
WKN: WACK01
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 957415





 
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