Brief: Wacker Neuson SE Cuts Guidance For 2024 And Publishes Preliminary H1 Results

Wacker Neuson SE

17/07/2024 13:54

July 17 (Reuters) - Wacker Neuson SE  WACGn.DE :
    * REVISES THE GUIDANCE FOR THE FISCAL YEAR 2024 AND
PUBLISHES
PRELIMINARY BUSINESS FIGURES FOR THE FIRST HALF OF 2024
    * CONTRARY TO FORECAST AT BEGINNING OF YEAR, MARKET DEMAND
IS NOT
RECOVERING AS EXPECTED
    * FOR CURRENT FISCAL YEAR EXECUTIVE BOARD NOW ANTICIPATES
REVENUE
BETWEEN EUR 2,300 MILLION AND EUR 2,400 MILLION (PREVIOUSLY:
2,400 UND 2,600 MIO. EURO)
    * OUTLOOK 2024 EBIT MARGIN IN RANGE OF 6.0 TO 7.0 PERCENT
(PREVIOUSLY: 8.0 TO 9.0 PERCENT)
    * 2024 REVENUE GUIDANCE DOWN TO EUR 2.3-2.4 BILLION
    * INVESTMENTS FOR FULL YEAR ARE EXPECTED TO AMOUNT TO AROUND
EUR
100 MILLION (PREVIOUSLY: EUR 120 MILLION)
    * NET WORKING CAPITAL RATIO AT YEAR-END OF 2024 IS EXPECTED
TO
AMOUNT TO AROUND 34 PERCENT (PREVIOUSLY: AROUND 30 PERCENT)
    * H1 2024 REVENUE DECREASES 11.8 PERCENT TO EUR 1,204.8
MILLION
    * H1 2024 EBIT DOWN 52.6 PERCENT TO EUR 83.8 MILLION
    * WACKER NEUSON SE - EBIT MARGIN IN FIRST HALF OF 2024 WAS
7.0
PERCENT (H1/2023: 12.9 PERCENT)

Source text for Eikon:  ID:nEQ6JWnvRa 
Further company coverage:  WACGn.DE 

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