DGAP-News: Wacker Neuson SE: Wacker Neuson shareholders approve higher dividend
DGAP-News: Wacker Neuson SE / Key word(s): AGM/EGM/Dividend
Wacker Neuson SE: Wacker Neuson shareholders approve higher dividend
27.05.2014 / 16:36
Wacker Neuson shareholders approve higher dividend
(Munich, May 27, 2014) The annual general meeting of Wacker Neuson SE took
place in Munich today. In addition to a resolution on the appropriation of
profit for fiscal 2013, the agenda included presentation of the annual
financial statements, approval of Executive Board and Supervisory Board
actions, the appointment of two new Supervisory Board members and the
appointment of the auditor for the current year.
248 shareholders representing 58,323,626 of voting rights in total attended
the Wacker Neuson SE annual general meeting (AGM) in Munich today. Based on
a share capital of 70.14 million shares, this corresponds to a
CEO Cem Peksaglam's assessment of fiscal 2013 was generally positive. Two
particular success stories he highlighted were the international expansion
of compact equipment sales and increased diversification into other
industries with products tailored to local requirements. "Beyond the
construction industry, our products are popular for farm, yard, barn and
riding stable work, but also in gardening, landscaping, energy, logistics,
recycling and municipal services. Meanwhile, we continued to tailor our
versatile compact product portfolio to the needs of regional markets,"
affirmed Peksaglam. "Despite difficult market conditions, we managed to
achieve growth through our strategy of cross-selling across our product
segments and by increasing our international footprint," Peksaglam added.
The Group's CEO also highlighted the performance of the Europe region,
which was well above average for the industry. The Group was able to
further expand its market position in all three of its business segments
(light equipment, compact equipment and services), which brought in record
revenue of EUR 1.16 billion for 2013.
CFO Günther Binder pointed to factors like the reduced ratio of operating
costs (sales plus general and administrative expenses and R&D expenses) to
revenue, thus underlining the productivity gains achieved throughout the
Group. The strong increase in cash flow from operating activities, flanked
by a slight drop in investment compared with the previous year, resulted in
a positive free cash flow for the first time since 2009, something the
Group aims to repeat in 2014.
Peksaglam also discussed the current fiscal year. Performance in the first
quarter of 2014 was very good, as expected. Group revenue grew by 13
percent, or 17 percent when exchange rate fluctuations are discounted. "In
Europe, we benefitted from a sustained recovery in the construction
industry, a more positive outlook in the agricultural sector and a milder
than usual winter, and this - combined with a revival in the US
construction industry - contributed to our strong performance," summarized
Peksaglam. The compact equipment (+21 percent) and services (+20 percent)
segments saw particularly good growth, and profitability was another area
where the Group was able to make a strong gain.
At the AGM, CTO Martin Lehner outlined the technology trends in light of
the new EU emissions standards. He warned that all construction equipment
and engine manufacturers face stiff challenges. Products had already been
optimized to comply with stricter guidelines introduced in recent years.
Now, Wacker Neuson is taking a holistic approach in a bid to reduce fuel
consumption even further and make its equipment more environmentally
friendly. "We are looking at ways to improve efficiency by ensuring that
engine, hydraulics, tires, control technology and other components work
together seamlessly," explained Lehner. "At the same time, we want to
maximize process and resource efficiencies for our customers. Our goal is
to provide them with the optimum technology for their work process," Lehner
continued. Shareholders were able to see the latest innovations for
themselves at the stand of products on display at the Munich AGM.
Outlook and strategy
Shareholders were particularly interested in the company's future
development prospects. "After practically doubling our revenue over the
past four years, we want to continue on this growth curve in 2014 and
beyond. A growing international footprint will be one of the key enablers
here," declared Peksaglam. Apart from Europe and North America, the Group
will be increasingly focusing on selected emerging markets in Asia, Africa,
South America and south-eastern Europe in order to leverage future growth
potential. Cem Peksaglam confirmed Wacker Neuson's forecast for 2014, which
targets revenue growth of 8 to 12 percent (to reach between EUR 1.25 and
1.30 billion) and an EBITDA margin of between 13 and 14 percent.
The Group's robust financial shape also provides certainty and ensures
continuity. "A solid financial footing is a must for companies seeking to
maintain their technology leadership through innovation, further expand
their existing markets and tap into new markets. And we are very solid,"
maintained Peksaglam. "Meanwhile, we will continue to evaluate
opportunities for mergers, acquisitions and strategic alliances."
Wacker Neuson wants its shareholders to have an attractive share in the
success of the Group. Shareholders approved a proposal by the Executive
Board and Supervisory Board to pay out a dividend of EUR 0.40 per share for
fiscal 2013 (previous year: EUR 0.30). This corresponds to a distribution
ratio of 46 percent based on Group profit for the year, a figure that is
one third higher than in the previous year. As such, the distribution ratio
is in line with Wacker Neuson's dividend policy.
Changes to the Supervisory Board
At the AGM, two new Supervisory Board members were appointed to complete
the six-strong Board. The election was required due to the resignations of
Dr. Bruse and Dr. Kollmar - two of the Supervisory Board's shareholder
representatives. Both the Executive Board and the Supervisory Board thanked
the two men for their dedicated and constructive contributions to the
company's success. Mr. Ralph Wacker and Dr. Matthias Schüppen were elected
to sit on the Supervisory Board until the next gathering of the AGM, which
is expected to take place in May 2015.
Voting results from the 2014 AGM
Voting results and further information on the AGM are available online at:
Your contact partner:
Wacker Neuson SE
Katrin Yvonne Neuffer
Head of corporate communication /
80809 Munich, Germany
About Wacker Neuson: The Wacker Neuson Group is a leading manufacturer of
light and compact equipment
with over 40 affiliates, 140 sales and service stations and more than
12,000 sales and service partners across the
globe. The Group can trace its roots back to 1848. 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 industries such as recycling and energy. It also offers a global spare
parts service. The Wacker Neuson Group
includes the product brands Wacker Neuson, Kramer and Weidemann. In 2013,
the Group achieved revenue of
EUR 1.16 billion and employed over 4,100 people worldwide.
End of Corporate News
27.05.2014 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
Company: Wacker Neuson SE
Phone: +49 - (0)89 - 354 02 - 0
Fax: +49 - (0)89 - 354 02 - 390
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
End of News DGAP News-Service
Press spacebar to pause and continue. Press esc to stop.