Shares of Wacker Neuson SE (WKRCF.PK) are currently trading around 4 percent higher on Frankfurt's Xetra after the German maker of light and compact equipment and vehicles reported a 31 percent increase in fiscal 2011 revenues and said it sees further growth in fiscal 2012.
Based on preliminary figures, annual revenue grew to 991.6 million euros from prior year's 757.9 million euros, and represented an 'all-time high' in the company's history.
For the year, profit before interest, tax, depreciation and amortization or EBITDA is around 162.6 million euros -more than double from last year's 77.8 million euros. EBITDA margin is 16.4 percent, significantly higher than 10.3 percent in 2010.
The company attributed the growth to successful sales of compact equipment and an increasingly broad footprint across market segments. Wacker Neuson said it focused on extending the reach of its compact and light equipment offering in core markets in Europe and North America in 2011 in line with its growth strategy.
In the fourth quarter of 2011, predominantly favorable weather conditions in Europe and the US also had a positive effect on Group figures, the company added.
The company noted that appreciation on the brand value created one-off earnings before interest and tax of 10.8 million euros, which precisely matches the impairment on the brand value recognized in 2009 as a result of the financial crisis.
Wacker Neuson said its financial and asset position remains very healthy with a high equity ratio before minority interests of around 75 percent and a low net financial debt of around 10 percent.
The company will release its complete annual report including the forecast for fiscal 2012 on March 22.
Wacker shares are currently trading at 12.50 euros, up 0.53 euros or 4.43 percent on Frankfurt's Xetra.
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