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Wacker Neuson SE (WAC.DE)

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  • EQS Group

    Wacker Neuson SE: Chairman of the Executive Board Martin Lehner to leave the Wacker Neuson Group

    DGAP-News: Wacker Neuson SE / Key word(s): Personnel18.11.2020 / 23:05 The issuer is solely responsible for the content of this announcement.Chairman of the Executive Board Martin Lehner to leave the Wacker Neuson GroupMunich, November 18, 2020 - Martin Lehner, Chairman of the Executive Board, CEO and CTO of Wacker Neuson SE, has today informed the Supervisory Board, that he will not be extending his contract with the company, which expires on March 31, 2021, for personal reasons."The Supervisory Board of Wacker Neuson SE regrets Mr. Lehner's decision and thanks him for his unwavering personal commitment. During his many years of successful work on the Executive Board, he has helped drive forward the Group's internationalization and opened up new growth areas whilst continuously developing the corporate strategy together with the entire Executive Board. With the departure of Martin Lehner, Wacker Neuson Group is losing a valued CEO, who has shaped the company with his commitment, expertise and innovative drive. We wish Mr. Lehner all the best for the future," says Hans Neunteufel, Chairman of the Supervisory Board. Mr. Lehner will continue to be available to the Group in an advisory capacity until March 2021 in order to ensure a smooth transition.Martin Lehner has worked for the Group and its predecessor companies since 1987. During the course of his more than 30-year career with the company, he has held various management positions and played a decisive role in successfully developing individual entities and merging them into a listed, global corporation. Prior to the merger of Wacker Construction Equipment AG and Neuson Kramer Baumaschinen AG in 2007, Mr. Lehner restructured the Kramer Group and was responsible for completely realigning it. In 2004, he became a member of the Executive Board of Neuson Kramer Baumaschinen AG. Following the merger, he was appointed to the Executive Board of the newly created Wacker Neuson SE and became Chairman in 2017.As an innovation driver and technology expert, Mr. Lehner has played a key role in shaping the company. In 2014, Wacker Neuson launched its first fully electric light equipment product. This battery-powered rammer marked a step into unknown territory - not just for the Group, but for the industry as a whole. The Group's zero emission product portfolio has expanded in recent years to include a wide range of products including vibratory plates, wheel loaders, dumpers and the first fully electric mini excavator, which was launched in 2020. "Martin Lehner's outstanding technical knowledge, his keen instinct for innovation and his passion for construction equipment has helped make Wacker Neuson the technology leader it is today in the field of electric light and compact equipment," adds Neunteufel. "Through his huge personal involvement in developing digital business models plus a wide range of further initiatives, Mr. Lehner has laid the foundation for the Wacker Neuson Group's transition from a production-focused organization to a software-oriented company. This has put our Group on a very strong footing to face the challenges of the coming years."After reporting average growth rates of 11 percent over the course of the last ten years, the Wacker Neuson Group clearly deviated from its growth path in 2020 as a result of the COVID-19 pandemic. By developing a new streamlined and agile management and organizational culture, Mr. Lehner has now helped make the Group even more robust and successful in the long term."I have spent many successful years at the Wacker Neuson Group. During this time, the organization has grown to become a leading manufacturer of light and compact equipment. Now, the time has come for me to focus on new tasks and challenges," explains Martin Lehner. "I am extremely grateful that I have been able to help the Wacker Neuson Group on its path to becoming an internationally successful Group and technology leader. My special thanks go to the many colleagues who - with their passionate commitment and high level of identification with our company - have made my time at Wacker Neuson very valuable to me. I have always been passionate about areas of future significance such as zero emission construction equipment and digitalization and am particularly proud of the innovative drive that our Group has shown in these fields. I am sure that the team will continue to live this spirit in the future and wish them, as well as the entire group, every success. Last but not least, I would like to thank all our customers and business partners for their loyalty and trust. I am convinced that they will continue to be in good hands with Wacker Neuson also in the future."As of January 1, 2021, Mag. Kurt Helletzgruber (68), who has been seconded from the Supervisory Board to the Executive Board until June 30, 2021, will temporarily assume the executive responsibilities of the position of CEO and take on the position of Chairman of the Executive Board.Mr. Helletzgruber has been a member of the Supervisory Board of Wacker Neuson SE since 2007 and held the position of CFO and CSO at Neuson Kramer Baumaschinen AG prior to the merger with Wacker Construction Equipment AG. Prof. Dr. Matthias Schüppen takes over as Chairman of the Audit Committee of the Supervisory Board of Wacker Neuson SE, which was held by Mr. Helletzgruber since 2010.Contact:Christopher HelmreichHead of Investor RelationsWacker Neuson SEPreussenstrasse 4180809 Munich, GermanyTel.: +49 - (0)89 - 354 02 - 427christopher.helmreich@wackerneuson.comwww.wackerneusongroup.comAbout the Wacker Neuson Group:The Wacker Neuson Group is an international network of companies, employing around 5,500 people worldwide. In fiscal 2019, the Group achieved revenue of EUR 1.9 billion. As a leading manufacturer of light and compact equipment, the Group offers its customers a broad portfolio of products, a wide range of services and an efficient spare parts service. Wacker Neuson Group is the partner of choice among professional users in construction, gardening, landscaping and agriculture, as well as among municipal bodies and companies in industries such as recycling and rail transport. The product brands Wacker Neuson, Kramer and Weidemann belong to the Group. Wacker Neuson SE shares are listed on the regulated Prime Standard segment of the Frankfurt Stock Exchange (ISIN: DE000WACK012, WKN: WACK01) and are member of the SDAX.18.11.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de 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: 1149271   End of News DGAP News Service

  • EQS Group

    Wacker Neuson SE: ​​​​​​​Changes to the Executive Board

    Wacker Neuson SE / Key word(s): PersonnelWacker Neuson SE: ​​​​​​​Changes to the Executive Board18-Nov-2020 / 22:39 CET/CESTDisclosure 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.Changes to the Executive BoardMunich, November 18, 2020 - Martin Lehner, Chairman of the Executive Board, CEO and CTO of Wacker Neuson SE has today informed the Supervisory Board, that he will not be available for an extension of his contract with the company for personal reasons. By fully amicable and mutual consent, Mr. Lehner will leave the Executive Board on December 31, 2020. However, he will continue to serve the Group in an advisory capacity until March 2021. Mr. Lehner has been a member of the Executive Board since 2007 and Chairman of the Executive Board since 2017. The Supervisory Board regrets his decision and thanks Mr. Lehner for his unwavering commitment and many years of successful work on the Executive Board.Furthermore, the Supervisory Board of Wacker Neuson SE and Wilfried Trepels, CFO, have today reached a mutual agreement that Mr. Trepels will step down from his position ahead of schedule. This decision was made after Mr. Trepels informed the Supervisory Board that he would not be available for an extension of his contract as CFO due to differences in opinion over the corporate management. Mr. Trepels will resign from his position as Executive Board member effective November 30, 2020. The Supervisory Board thanks Mr. Trepels for his successful work.As of December 1, 2020, Mag. Kurt Helletzgruber, Chairman of the Audit Committee, has been seconded from the Supervisory Board to the Executive Board until June 30, 2021, in accordance with Section 105 (2) AktG and will take on the executive responsibilities of the position of CFO on an interim basis. Prof. Dr. Matthias Schüppen will take over as Chairman of the Audit Committee.As of January 1, 2021, Mag. Helletzgruber will temporarily assume the executive responsibilities of the position of CEO and take on the position of Chairman of the Executive Board.Your contact:Wacker Neuson SE Christopher HelmreichHead of Investor RelationsPreussenstrasse 4180809 Munich, GermanyTel. +49-(0)89-35402-427christopher.helmreich@wackerneuson.comwww.wackerneusongroup.com 18-Nov-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de 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: 1149264   End of Announcement DGAP News Service

  • EQS Group

    Wacker Neuson SE: Covid-19 pandemic continues to have a significant impact in Q3

    DGAP-News: Wacker Neuson SE / Key word(s): 9 Month figures05.11.2020 / 07:00 The issuer is solely responsible for the content of this announcement.Wacker Neuson SE: Covid-19 pandemic continues to have a significant impact in Q3 Revenue for the third quarter 16.5 percent below previous year EBIT margin at 5.8 percent (-3.0 percentage points) Free cash flow at EUR 86.5 million, driven by reduction in net working capital Further significant reduction in net financial debt, gearing at 22 percent Group expects to achieve Strategy 2022 goals one to two years later than plannedMunich, November 5, 2020 - Leading light and compact equipment manufacturer the Wacker Neuson Group continued to clearly feel the effects of the Covid-19 pandemic in the third quarter of 2020. The Group reported revenue of EUR 390.8 million, which is a decrease of 16.5 percent relative to the previous year (Q3/19: EUR 468.2 million). Revenue for the first nine months of the year amounted to EUR 1,187.5 million, which is a drop of 16.4 percent (9M/19: EUR 1,420.8 million). "We again experienced a significant decline in revenue in the third quarter related to the coronavirus pandemic, albeit less pronounced than in the second quarter. However, we are also seeing positive changes in our industry that have been triggered or accelerated by the shift in circumstances. Through the crisis, our customers have become much more open to the possibilities of digitalization and electromobility in particular," explains Martin Lehner, CEO of the Wacker Neuson Group.Regional trends in Q3Q3 revenue in Europe - the largest region for the Wacker Neuson Group - was 8.2 percent below the prior-year figure at EUR 310.0 million (Q3/19: EUR 337.6 million). Once again, the DACH-region (Germany, Austria and Switzerland) had a stabilizing effect here, with revenue from the Wacker Neuson brand remaining at the same level as the previous year. Revenue generated by selling rental equipment from the Group's own fleet increased significantly here, giving the company a highly flexible channel to meet individual customer requests. Whereas many countries outside of Central Europe reported double-digit downturns in revenue, the UK improved its performance markedly. This was primarily fueled by continued strong demand for dual view dumpers, which more than compensated for the restrained investment behavior among major rental chains. Revenue generated by the Group's Weidemann- and Kramer-branded equipment for the agricultural sector declined by a total of 12.2 percent to EUR 63.9 million (Q3/19: EUR 72.8 million).Revenue in the Americas, which continues to be hit hard by the Covid-19 pandemic, decreased 43.1 percent in Q3 (Q3/20: EUR 65.9 million; Q3/19: EUR 115.9 million). Adjusted for currency effects, this corresponds to a drop of 38.8 percent. Willingness to invest remained extremely low among dealers, key accounts and rental chains in the region. Although the US production plant had remained largely closed since April, the first production lines started to gradually ramp up towards the end of the third quarter.In the third quarter, Wacker Neuson experienced slight growth in the Asia-Pacific region for the first time since the start of the year. The Group reported a significant double-digit revenue upturn in China as well as gains in Australia despite the challenging conditions there. In contrast, revenue in Southeast Asia halved due to the severe impact of the coronavirus crisis. Revenue for Asia-Pacific as a whole amounted to EUR 14.9 million (Q3/19: EUR 14.7 million).Profitability impacted by downturn in sales volumesProfit before interest and tax (EBIT) for the third quarter amounted to EUR 22.8 million (Q3/19: EUR 41.2 million). The EBIT margin settled at 5.8 percent (Q3/19: 8.8 percent). Profit was primarily impacted here by the sharp downturn in sales volumes, which, in conjunction with the further reduction of inventory, resulted in much lower capacity utilization at production plants than in the previous year. Bad debt allowances in the amount of EUR 7.5 million also had a negative impact here. In contrast, the Group benefited from a lower cost base relative to the previous year as well as from growth in the services segment, which had a positive impact on the product mix. The Group continued to utilize various short-time work models in the third quarter, albeit to a lesser extent than in the second quarter.Viewed over the first nine months of the year, EBIT amounted to EUR 73.2 million, which corresponds to a margin of 6.2 percent (9M/19: EUR 127.4 million; 9.0 percent). This includes a goodwill impairment of around EUR 9 million attributed to the US subgroup, which was reported in the second quarter.Further reduction of net working capital, Q3 free cash flow again in high double digitsThe Wacker Neuson Group continued to reduce net working capital in the third quarter. Inventory downsizing had the biggest impact here as the Group was able to further reduce levels despite the decline in sales volumes. As such, inventory was already significantly below the year-end goal of EUR 500 million by September 30 (inventory levels at September 30, 2020: EUR 475.8 million). Reflecting declining sales volumes, trade receivables were also significantly lower than figures for the previous quarters and the prior year. Net working capital amounted to EUR 636.3 million. This is a reduction of 14.4 percent relative to the close of Q2/20 and 29.2 percent relative to the prior-year period (June 30, 2020: EUR 743.0 million; September 30, 2019: EUR 898.8 million).Free cash flow for the third quarter amounted to EUR 86.5 million. In the previous year, a sharp rise in net working capital resulted in negative free cash flow both for Q3 and for the nine-month period (Q3/19: EUR -15.5 million; 9M/19: EUR -200.0 million). Free cash flow for the first nine months of 2020 amounted to EUR 179.4 million. As a result, net financial debt declined markedly again, amounting to EUR 276.1 million at the close of the third quarter (September 30, 2019: EUR 513.1 million). Gearing was reported at 22.2 percent (September 30, 2019: 42.2 percent).Still not feasible to quantify guidance for fiscal 2020 as a wholeInfection rates are on the rise again, leading to a tightening of government restrictions. As it is impossible to reliably predict the effects that these measures will have on public life, general economic activity and the business development of the Wacker Neuson Group, it is currently not possible to quantify the outlook published in August. According to that outlook, the Executive Board expects revenue and the EBIT margin for the full year 2020 to be considerably lower than the previous year (revenue 2019: EUR 1,901.1 million; EBIT margin 2019: 8.1 percent). Furthermore, the Executive Board now expects net working capital to decrease further by the close of the year, albeit at a slower pace than in the previous months (previously: net working capital was expected to be significantly lower than the prior-year figure of EUR 811.7 million). Investments for the year as a whole are expected to remain unchanged at around EUR 80 million.Group expects to achieve Strategy 2022 goals one to two years later than plannedAfter reporting double-digit growth rates for fiscal 2017, 2018 and 2019, the Wacker Neuson Group has clearly deviated from its growth path in 2020. In light of current infection rates, the Executive Board expects the coronavirus pandemic to continue to have a major impact into fiscal 2021. In light of this, the Group expects to achieve its medium-term goals set out in March 2018 one to two years later than planned. In its Strategy 2022, the Group aims to achieve revenue in excess of EUR 2 billion and an EBIT margin of more than 11 percent. It also plans to gradually bring net working capital down to below 30 percent of revenue. "We have worked hard on consistently implementing our Strategy 2022 in recent years to ensure that our Group is focused 100 percent on our customers' needs. We have already made substantial progress in each of the initiative's three strategic areas of "focus", "acceleration" and "excellence", and are today much more efficient, innovative and - above all - closer to our customers than we were at the start of 2018," adds Lehner. "Together with our colleagues, we will remain committed to our current path. The long-term trend towards compact equipment in the construction and agricultural sectors is unchanged and offers major opportunities for our Group. Eco-friendly solutions and alternative drives are becoming increasingly important to our customers. As an innovation driver, we believe that we are ideally positioned to actively shape the key trends in our industries and create long-term value for our customers as well as our shareholders," continues Lehner. "The goals that we set out for the Group in 2018 remain our benchmark. Based on the information currently available, however, we no longer expect to achieve all of these by fiscal 2022." Key indicators for the Wacker Neuson Group Key figures in € million Q3/20 Q3/19 Change 9M/20 9M/19 Change Revenue 390.8 468.2 -16.5% 1,187.5 1,420.8 -16.4% EBIT 22.8 41.2 -44.7% 73.2 127.4 -42.5% EBIT margin (as a %) 5.8 8.8 -3.0 PP 6.2 9.0 -2.8 PP Profit for the period 11.1 25.7 -56.8% 33.8 80.1 -57.8% Earnings per share in € 0.16 0.37 -56.8% 0.48 1.14 -57.9% Free cash flow 86.5 -15.5 - 179.4 -200.0 -  Contact:Christopher HelmreichHead of Investor RelationsWacker Neuson SEPreussenstrasse 4180809 Munich, GermanyTel.: +49 - (0)89 - 354 02 - 427christopher.helmreich@wackerneuson.comwww.wackerneusongroup.comThe Wacker Neuson Group's report for Q3 2020 is available at the following link: https://wackerneusongroup.com/en/investor-relations/financial-reports-presentations/2020For press images relating to the Wacker Neuson Group, please see:https://wackerneusongroup.com/en/news-media/press-imagesAbout the Wacker Neuson Group:The Wacker Neuson Group is an international network of companies, employing around 5,500 people worldwide. In fiscal 2019, the Group achieved revenue of EUR 1.9 billion. As a leading manufacturer of light and compact equipment, the Group offers its customers a broad portfolio of products, a wide range of services and an efficient spare parts service. Wacker Neuson Group is the partner of choice among professional users in construction, gardening, landscaping and agriculture, as well as among municipal bodies and companies in industries such as recycling and rail transport. The product brands Wacker Neuson, Kramer and Weidemann belong to the Group. Wacker Neuson SE shares are listed on the regulated Prime Standard segment of the Frankfurt Stock Exchange (ISIN: DE000WACK012, WKN: WACK01) and are member of the SDAX.05.11.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de 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: 1145536   End of News DGAP News Service