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

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).

The company recorded a preliminary revenue of EUR 1,204.8 million in the first half of 2024, corresponding to a decrease of 11.8 percent compared to the previous year (H1/2023: EUR 1,365.9 million). Preliminary earnings before interest and taxes (EBIT) were at EUR 83.8 million, 52.6 percent down compared to the previous year (H1/2023: EUR 176.7 million). The preliminary EBIT margin in the first half of 2024 was 7.0 percent (H1/2023: 12.9 percent).

Investments amounted to EUR 48.3 million (H1/2023: EUR 69.2 million) in the first half of 2024. As of June 30, the net working capital ratio was 37.0 percent based on the annualized revenue of the preceding quarter (December 31, 2023: 33.9 percent).

The final first half of 2024 business figures of the Wacker Neuson Group will be published on August 13, 2024.

The explanations to all mentioned key performance indicators are included in the Wacker Neuson Group Annual Report 2023 includes starting page 150.

Contact:

Wacker Neuson SE
Peer Schlinkmann
Head of Investor Relations & Corporate Communications
Preußenstraße 41
80809 Munich
Tel. +49-(0)89-35402-1823
peer.schlinkmann@wackerneuson.com

www.wackerneusongroup.com

1948341  17-Jul-2024 CET/CEST