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Wacker Neuson SE — Regulatory Filings 2008
Apr 22, 2008
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Regulatory Filings
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Corporate | 22 April 2008 08:56
Wacker Construction Equipment AG: Wacker Construction set for further growth
Wacker Construction Equipment AG / Strategic Company Decision
Release of a Corporate News, transmitted by DGAP - a company of EquityStory
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The issuer / publisher is solely responsible for the content of this announcement.
Wacker Construction set for further growth
New Kramer plant comes on stream - high levels of investment and expansion
of capacity
(Munich, April 22, 2007) Following record results in 2007, Wacker
Construction Equipment AG is set to continue on its positive growth path.
Affiliate Kramer-Werke GmbH, a leading manufacturer of all-wheel loaders
and telehandlers for the construction industry in Germany, is ahead of
schedule in starting operations at its new plant in Pfullendorf, Germany.
Substantial expansion of production capacity
After a construction window of just one year, the first machines have
rolled off the production line ahead of schedule. Over EUR 30 million has
been earmarked for investment in the new 30,000 m2 production site, EUR 20
million of which is planned for 2008. 'The new site has more than doubled
the production capacity of the previous Kramer site in Überlingen and puts
Kramer in a prime position to deal with the increased demand for wheel
loaders and telehandlers expected in the coming years,' explains Dr.-Ing.
Georg Sick, CEO and President of Wacker Construction Equipment AG. At the
start of November 2007, the Wacker affiliate Weidemann GmbH also started
production of articulated wheel loaders for the construction and
agricultural industries at its new production plant in Korbach, Germany.
High levels of investment and expansion of capacity
'This expansion of capacity has been well timed in anticipation of a rise
in demand for compact equipment,' emphasizes Sick. At the end of March, the
volume of open orders for compact equipment for the construction industry
was more than 20 percent up on the equivalent figure for the same period
last year. Overall, the company is confident that it will remain on a
sustainable growth path thanks to positive mid-term forecasts for the
construction and agricultural industries worldwide. To ensure it is in a
strong position to capitalize on growth opportunities, the company is
looking to invest around EUR 100 million in the course of the current
fiscal year. This money will be used to fund a number of projects including
expansion of the sales and service network, furthering the rental business
in Central and Eastern Europe, expansion of capacity and the global launch
of compact equipment via the existing sales network.
Positive outlook for fiscal 2008
In the course of fiscal 2008, the company is aiming to break the billion
euro mark for sales and achieve EBITDA of at least 17 percent. In
record-breaking 2007, Wacker Group sales rose 19.8 percent from EUR 619.3
million in 2006 to EUR 742.1 million (including Q4 figures from merger
partner Neuson Kramer Baumaschinen AG). Following purchase price
allocation, EBITDA increased 16.7 percent from EUR 100.2 million to EUR
117.0 million. This corresponds to an EBITDA margin of more than 16 percent
for both years. Despite the effects of purchase price allocation, Group
profit climbed 11.3 percent to EUR 54.1 million (previous year: EUR 48.6
million). At the forthcoming AGM, the company will propose changing its
name to Wacker Neuson SE.
About Wacker Neuson:
Completed in 2007, the merger between the parent company Wacker
Construction Equipment AG and Neuson Kramer Baumaschinen AG has created a
major global manufacturer of light and compact equipment. With over 30
affiliates and more than 180 sales and service stations across the globe,
the new company offers an unparalleled product portfolio. All products
manufactured by the new organization will in future be branded Wacker
Neuson. The exceptions to this in Europe are Kramer all-wheel loaders and
the Weidemann brand, which will be retained and further developed for the
agricultural industry. With over 300 product categories and extensive
rental, spare parts and repair services, Wacker Neuson is the partner of
choice among professional users in construction, gardening, landscaping and
agriculture, as well as among municipal bodies and companies in the
industrial and recycling sectors.
Wacker Construction Equipment AG
Imre Szerdahelyi
Head of Corporate Communication
Preussenstr. 41,
80809 Munich, Germany
Tel. +49 - (0)89 - 354 02 - 251
[email protected]
www.wackerneuson.com
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22.04.2008 Financial News transmitted by DGAP
Language: English
Issuer: Wacker Construction Equipment AG
Preußenstr. 41
80809 München
Deutschland
Phone: +49 - (0)89 - 354 02 - 0
Fax: +49 - (0)89 - 354 02 - 390
E-mail: [email protected]
Internet: www.wackergroup.com
ISIN: DE000WACK012
WKN: WACK01
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Hannover, Düsseldorf, Hamburg, München, Stuttgart
End of News DGAP News-Service