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Wacker Neuson Q1 Profit Rises

German construction equipment manufacturer Wacker Neuson Group (WKRCF.PK) reported that its first-quarter profit rose to 29.1 million euros from 10.4 million euros in the previous year. Earnings per share were 0.41 euros compared to 0.15 euros in the prior year.

Earnings before interest and tax or EBIT increased 50.9 percent to 43.6 million euros from 28.9 million euros in the previous year.

Group revenue for the first quarter was 434.0 million euros, an increase of 5.6 percent from last year. Adjusted for currency effects, Group revenue growth was 7.4 percent.

Taking the current economic climate as well as the opportunities and risks facing the company into account, the Executive Board foresees no change to its guidance for fiscal 2021.

The company noted that Christoph Burkhard will become the new chief financial officer, effect on June 1, 2021. He follows on from Kurt Helletzgruber, who was seconded from the Supervisory Board to the Executive Board and is currently serving as CEO and CFO for an interim period.

Tragl will also be assuming his new role as CEO and Chairman of the Executive Board on June 1. Kurt Helletzgruber will then return to his position on the Supervisory Board.

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