Ad-hoc | 21 December 2009 17:52
Wacker Neuson SE / Miscellaneous
21.12.2009
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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(Munich, December 21, 2009) Wacker Neuson SE is currently evaluating its
balance sheet structure as a result of current market conditions and
assessing the goodwill attributed to the former subgroup Neuson Kramer. The
impairment test is expected to result in a one-off write-down on intangible
assets, primarily goodwill, in the amount of EUR 100 to 115 million to be
posted in the annual financial statements for 2009. This impairment does
not impact on liquidity and is based on the 2007 merger of the former
Wacker Construction Equipment AG and the former Neuson Kramer Baumaschinen
AG.
The goodwill impairment results from the downturn in business compared with
the previous year prompted by the economic crisis and its particularly
strong impact on the compact equipment segment. This, in turn, has led to a
fall in income posted by the former Neuson Kramer subgroup. During the
course of the impairment test performed in the fourth quarter of 2009 and
based on forecast figures, the net book value of the Neuson Kramer subgroup
was compared with its current fair value. The results here revealed the
need for impairment. The one-off, unscheduled consolidated impairment is
estimated at around EUR 100 to 115 million (IFRS 3). The company's
operating activities, liquidity level and credit situation are not affected
by the goodwill impairment. The high equity ratio of about 80 percent
remains largely unaffected by the write-down.
The former Wacker Construction Equipment AG and the former Neuson Kramer
Baumaschinen AG merged in October 2007. Initial consolidation took place on
October 1, 2007.
The company reported this increased risk of goodwill impairment in its
nine-month report published on November 11, 2009.
Wacker Neuson SE has seen its operational business stabilize in recent
months and expects business to pick up during the coming fiscal year.
Additional information on Wacker Neuson SE shares:
ISIN: DE000WACK012
WKN: WACK01
Admission: Regulated market / Prime Standard; Frankfurt Stock Exchange
Company headquarters: Germany
Your contact partner:
Wacker Neuson SE
Imre Szerdahelyi
Head of Corporate Communication
Preußenstr. 41
80809 Munich, Germany
Tel. + 49 - (0)89 - 354 02 - 251
E-Mail: ir@wackerneuson.com
Internet: www.wackerneuson.com
21.12.2009 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Wacker Neuson SE
Preußenstr. 41
80809 München
Deutschland
Phone: +49 - (0)89 - 354 02 - 0
Fax: +49 - (0)89 - 354 02 - 390
E-mail: info@wackerneuson.com
Internet: www.wackerneuson.com
ISIN: DE000WACK012
WKN: WACK01
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hannover, München, Hamburg, Stuttgart
End of News DGAP News-Service
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