The Wacker Neuson Group has lowered its revenue and profit forecast for the current fiscal year.
Revenue and profit developed below previous expectations due to the ongoing economic slowdown in the emerging markets and in countries, which are dependent on raw material prices, the company said.
In light of these developments, the executive board lowered its forecast for the year to between EUR 1.35 and EUR 1.40 billion, down from EUR 1.40 to 1.45 billion. It also revised down it EBIT margin to between 7.0 and 8.0 percent from 9.5 to 10.5 percent.
The company will be publishing its nine-month report on November 12, 2015. It will issue its forecast for the coming year in March 2016 when it publishes its results for 2015.
Source: Wacker Neuson Group