CNH reported 2004 net profit before restructuring expenses of 193 million U.S. dollars

Lake Forest, Illinois (ots / PRNewswire) – CNH Global NV (NYSE: CNH) today reported its earnings for the fourth quarter. The company posted a net profit of 26 million U.S. dollars. In the same period in 2003, CNH had reported a net loss of 111 million U.S. dollars. These numbers include the cost of restructuring measures after tax of 22 million (EUR) U.S. Dollar (USD) or $ 140 million of the two periods one already. The basic earnings per share in the fourth quarter of 2004 were $ 0.19 per share (or $ 0.11 per share diluted). Compared with a loss per share of $ 0.84 per share ($ 0.84 each share, on a diluted basis) in the fourth quarter of 2003.

CNH for the full year 2004 net income of $ 125 million, compared with a loss of $ 157 million in 2003. These results include an after-tax restructuring costs of 68 million USD and 187 million USD. The basic earnings per share for the full-year earnings including 0.94 per share (or $ 0.54 per share diluted) compared to a loss per share of $ 0.19 per share (or $ 1.19 per share diluted) in 2003.

Excluding restructuring costs before tax, CNH recorded a net profit of 193 million USD in 2004, compared with net income of $ 30 million in 2003. This annual growth of 163 million over the previous year exceeded the expectations of the company. It was achieved despite lower sales in the fourth quarter in the range of agricultural machinery, which is largely due to the reduction of inventories at the dealers and the company, mainly of combines in North America due to the closure of the assembly plant in East Moline.

“The employees of the CNH can be proud of achievements in 2004,” said Paolo Monferino, president and CEO. “This year we were able to crown our merger efforts with success. We can use the new and future challenges that concern from a strengthened position of strength. Such as the escalation include the cost of materials, especially for steel, and the price decline in some of our most important markets. This we expect for 2005 but a further increase in turnover and net profit. ”

Sales of agricultural equipment in the fourth quarter. Net sales of agricultural equipment in the fourth quarter was 1.9 billion (bn) USD in the same order as in the prior year quarter of 2003, but went with the involvement of exchange rate fluctuations by around 5%.

In the estimation of the global industry sales of CNH agricultural tractors by 10% and the Mähdrescherumsatz by about 15% in the fourth quarter has increased. The industry segment sales of tractors over 40 horsepower were up 26% in North America, up 18% in other regions and by 8% in Latin America, Western Europe, but he fell by 1%. The industrial turnover in Mähdreschersegment rose by 43% in North America, which was well above expectations, up 34% in other regions and by 17% in Western Europe. In Latin America, industry sales rose in the combine in September 2004 by 30% compared to September 2003. Nevertheless, industry sales fell in the combine for the entire fourth quarter by approximately 10%. Overall, the global industry sales of agricultural equipment increased year on year by around 10%.

Total retail sales of CNH agricultural equipment increased in the area also in the quarter, which is the global market. The increase in the CNH-retail sales in the Americas and in other regions was offset by the decline in Western Europe. The underproduction of CNH in the retail sale of agricultural machinery represented about 20% in the quarter, which contributed to reducing the global stocks of tractors and combine harvesters and dealers at the company by about 15%.

Sales of construction equipment in the fourth quarter. Net sales of construction equipment in the fourth quarter was 962 million USD, an increase of $ 164 million or 21% over the fourth quarter of 2003. Including the exchange rate fluctuations, sales grew by 16% over the same period last year.

CNH expects the worldwide industry sales have risen for the light construction equipment by approximately 19%, and of heavy equipment by approximately 13%. Industry sales of light construction equipment increased 23% in North America, up 17% in Western Europe to 14% in other regions and by 50% in Latin America (the smallest of the markets). In the heavy equipment sales industry increased by around 35% in North America, up 16% in Western Europe and by 43% in Latin America. For the rest of the industry sales fell by 5%. Overall, the global industry sales rose to light construction equipment and heavy machinery around 17% over the same period last year.

Total retail sales of CNH construction equipment in the field of light and heavy equipment increased in the quarter, which is the global market. The underproduction of the retail sales of CNH construction equipment was approximately 14%, which contributed to the worldwide reduction of inventory levels at distributors and the company by about 13%.

Financial results for the fourth quarter in the machine business. Net sales in the machinery business in the fourth quarter was $ 2.8 billion, compared with $ 2.7 billion the prior year quarter of 2003. Sales increased, including the exchange rate by 1% over the same period last year. The destocking of the company, which took place largely in the field of agricultural machinery, was partially offset by the impact of higher prices achieved.

The gross profit margin (net sales of equipment less cost of sales) in the fourth quarter, CNH’s Equipment Operations increased year on year by 48 million or one percentage point, mainly the powerful machinery business of the company in North America Act. The gross profit margin of the company in the field of agricultural machinery however decreased slightly in the quarter. Higher selling prices and favorable impact of currency translation were offset by unfavorable economic conditions. For this purpose, the higher steel prices and the lower production volume and mix. The gross profit margin in the machinery business grew in the quarter, as higher selling prices, volume and mix and savings from the rationalization in the industrial production could more than offset unfavorable economic conditions. Although the under-production of the machinery division 14% of retailer demand for the quarter was that production increased by about 20% over the prior year quarter of 2003, reflecting the higher production figures in the industrial businesses.

CNH reports the operating profit margin in the industrial segment as net sales minus cost of sales, marketing, general and administrative expenses and research and development costs. Overall, operating profit margin of the industry segment of the company was in the fourth quarter was $ 100 million and thus in the same order as in the fourth quarter of 2003, despite the lower production figures, which were to reduce inventory levels at distributors and the company required.

Financial results for the full year in the machine business. Net sales in the machinery business in 2004 increased by 11.5 billion or 15%. Last year (2003) he had been at 10.1 billion. Including the exchange rate fluctuations, sales rose by 9%. By region and including exchange rate fluctuations, sales rose 24% in the Americas and by 2% in other regions. In Western Europe, however, sales declined by around 6%. Worldwide sales were down mainly on the impact of exchange rates also due to the increase in production figures and a better mix, but also because of higher selling prices and because of new products.

The gross profit margin in the machinery business grew year on year to 1.76 billion, or 15.3% of net sales. Last year the figures were still at 1.48 billion, or 14.7% of net sales. This is mainly from its strong showing in the segment of the long economic equipment and machinery sector in the Americas Act. In dollars, the gross profit margin increased in the segment of the agricultural machinery, but they remained a percent of sales, compared with 2003, the same level. Higher prices, favorable exchange rates and higher production volumes and improved mix offset the adverse economic conditions, particularly by higher steel prices from. The positive business development in North America was offset by a decline in numbers in Europe. The competition here prevented a price increase to offset rising steel prices and other economic conditions. The production of farm machinery was on year, slightly below the level of retail sales.

The results were positive in the machinery business in 2004, as the gross profit margin in both dollars and as a percentage of sales increased and a more acceptable level approaches. Higher selling prices, improved production levels and product mix as well as the rationalization of the company in the industrial production offset higher steel prices and other economic conditions more than made up. Production in the machinery business was in comparison to the level of retail sales.

The measures to increase profits in 2004 CNH led to savings of about $ 165 million, both by the production adjustment measures as well as rationalization in the industrial production and savings in material costs, not only in steel. The increased steel costs of approximately $ 160 million were partially offset by the higher surcharges for steel, which failed with an incremental net charge of $ 50 million for the year to book. New products made an incremental contribution to profits. He was about 30 million USD for the full year.

Over the full year were the distribution costs and the costs of general administration at 8.0% of net sales. Last year (2003), the value had stood at 8.3 of net sales. The total number of employees employed persons was 31 December 2004 CNH 3% lower than at 31 December 2003.

In 2004, CNH’s operating profit margin increased in the industrial segment to $ 567 million or 4.9% of net sales. Last year 2003 the values were still located at 381 million or 3.8% of net sales. The increase as a percentage of net sales was largely attributable to improvements in the equipment business of CNH due.

In 2004, the adjusted net income was before interest, taxes, depreciation and amortization (EBITDA, the adjusted value) in the CNH Equipment Operations 687 million USD and 6.0% of net sales. Last year 2003, the value at 501 million or 5.0% of net sales had been. The interest coverage ratio was 2.9 for the full year 2004, compared with 2.1 last year.

Financial results for the fourth quarter in the financial services business. In the fourth quarter of 2004, CNH Capital reported net income of $ 55 million, compared with $ 36 million in the prior year comparable period. The improvement is mainly the lower reported net provisions for credit losses attributed.

Financial result of the financial services business for the year. CNH Capital’s net income for the full year 2004 amounted to U.S. $ 159 million, compared with $ 93 million in 2003. The significantly improved results of CNH Capital is due to the improved dispersion in the collateralized securities transactions of the company and higher profit margins. The continued improvement in asset quality resulted in a steady decline in interest and default rates for the core business of CNH Capital, as well as to reduced provisions for credit losses in the year. The total securities portfolio was at the end of 2004 by about 6% above the level of 31 December 2003.

Balance sheet. The net liabilities in the machine shop were 31 December 2004, $ 1.3 billion. At 31 December 2003, amount to the value or $ 1.9 billion. The year over year decline in net liabilities are mostly the lower level in working capital attributable.

The current assets in the machinery business was the involvement of the exchange rate at 31 December 2004, around USD 642 billion lower than at 31 December 2003. The decrease of USD 642 million includes an amount of 466 million USD, which occurred on the opposite end of the year effects of the CNH program for securitization of liabilities in Europe. This program began in the third quarter of 2004. It includes the regulation of non-operational oh receivable in Europe of around EUR 190 million in the fourth quarter of 2004. In 2004, the stock based on a constant currency by around 85 million USD, the foreign debt of $ 58 million was reduced, while the effects of increased intra-group receivables and payables on working capital by 97 million USD. The reduction of the stock to $ 85 million for the full year are the measures to reduce inventory in the fourth quarter due.

was published earlier, CNH paid $ 155 million in 2004 to its U.S. pension plan. Overall, the machinery division of the company around 879 million of cash generated from operating activities, which shall cover the investment cost of $ 179 million, the balance could be used principally to reduce net debt.

The net liabilities in the financial services business increased to $ 3.6 billion at 31 recorded December 2004. At 31 December 2003 the value had amounted to $ 3.2 billion. This increase is due to the larger on-book portfolio of financial contracts in the retail sector. The increase towards the end of development activities in North American business of the company were the main reason for the increase of the security portfolio with the inclusion of exchange rate fluctuations. During the quarter, CNH Capital paid back a credit line amount payable to a bank of 500 million USD.

And pension fund obligations. In 2004, the assets of the U.S. and UK Pension Plan benefited from the low rate of return and the payment of $ 155 million in the U.S. pension plan. The favorable development of the plan assets was offset by reducing the discount rate assumptions that led to a higher valuation of pension obligations. This results in an increase in minimum pension liabilities by $ 122 million and shareholders’ equity resulted in compensation expense after tax of around 64 million USD. For 2005, CNH expects pension expenses and health costs for active and retired personnel of a similar amount as in 2004. In addition, CNH expects to pay approximately $ 90 million in the year 2005 in its U.S. pension plan.

2005 forecast market for agricultural machinery. For all of 2005, CNH expects industry sales in one of the same magnitude as in 2004. For North America, an increase in total industry sales of around 5% is expected, with a decrease in sales in the second half of the year seems possible. The European industry in total sales expected at the same level or slightly below the previous year. After the extremely positive development in Latin America in 2004, industry sales of agricultural machinery is forecast to decline by 20%.

In the case of tractors and combines in the first quarter, CNH expects North American industry, a continued strong sales. In Western Europe creates the change of the agricultural system and the associated separation of payments to farmers by the agricultural yield an uncertain market situation. Thus, here a decline in the tractor and Mähdreschersegment of up to 5% is expected.

When industry sales in Latin America, we expect a decline for the quarter of tractors by 10% and combines, because of the exceptionally high level of 2004, a decline of about 30%. The Mähdreschersegment in Brazil had experienced in the first quarter of last year (2004) over the same quarter last year (2003), an increase of around 70%, as higher grain prices, the income of the Brazilian farmers had strengthened. In the wake of the decline in commodity prices and foreign exchange developments since then we expect a decline in industry sales for the first quarter of 2005 to the level of the first quarter of 2003.

Market forecast in 2005 for the construction business. CNH predicted a possible increase of worldwide industry sales of light construction machinery by up to 5%, which is expected in North America with sales up 5%. For the Western European and Latin American markets are expected to be 5% yield. In the other regions is expected to fall in industrial sales.

Of heavy mining equipment, the expectations are in worldwide sales for the full year from the previous year and a decline of up to 5%. Despite the marked differences in the various regions is expected to increase industry sales in North America by about 5%. For Western Europe, a steady development is expected in comparison with 2004. In other regions, as compared with 2004 expected to fall in industrial sales.

In the worldwide industry sales of light construction machinery our expectations are higher for the first quarter of 2005 as one, starting from the market forecast for the full year, would suggest. The industrial sales in North America is expected to increase by 15% in Western Europe is an increase by 5% to 10% and in Latin America by about 25% into the house. In the other regions is expected to fall in industrial sales.

For the first quarter of 2005, the expectations are in the heavy equipment sector in the Americas and Western Europe were higher than those in the market forecast for the full year expectations expressed. The industrial sales in North America is expected to increase by around 15% and in Latin America by about 20% in Western Europe, however, the expectations remain on the previous year. For the other regions but declined by around 30% is forecast for industry sales, as a repeat of last year’s strong performance in the Chinese market can not be expected.

In January 2005, CNH began consolidating its New Holland construction equipment brands in Europe and Latin America under the joint brand name New Holland. The company is now focused on only two global construction equipment brands – Case and New Holland. Long term, CNH expects this merger more additional revenues. It will allow CNH to support its dealers better to strengthen its dealer network and ultimately to enlarge the product range. In the short term can lead this measure changes in the dealer network and product lines as well as increased customer service costs.

Extended Forecast for CNH in 2005. In the machinery segment, CNH expects an increase of net sales for the full year 2005 of around 5%. However, the company sees itself confronted with the problem at the beginning of higher material costs and problems with the availability of some components and raw materials. It is generally expected to intensify economic fluctuations. CNH continues to hold fast to its goal to achieve in the period between 2005 and 2007, an efficiency of 500 million USD. The company believes that will not be unduly affected by exchange rate fluctuations due to the global distribution of CNH’s industrial production and global reach of its purchasing policy, the net results.

Given all these factors, the Company’s expectations are for a profit increase of 15% year over year, depending on the economic and commodity price developments. For the first quarter of 2005 are the company’s expectations, however, with a net profit before rationalization costs at the same level, despite the recent rise in steel costs and the low seasonal replenishment of stocks, principally affecting the Mähdreschersegment the American markets.

CNH management will hold a conference call today, in the fourth quarter results will be discussed. The webcast of the conference call will begin at 10:00 U.S. Eastern Time Clock. Through the investor information section of the company’s website at http://www.cnh.com to get to the access to this program that is carried by CCBN.

CNH is the power behind leading agricultural and construction equipment brands of the Case and New Holland brand families. CNH brings together its network of more than 12,000 dealers in over 160 countries the knowledge and heritage of its brands with the strength and resources of its worldwide commercial, manufacturing, customer service and financial services organizations. More information about CNH and its products can be found online at http://www.cnh.com.

Forward-looking statements. This press release contains “forward-looking statements” defined in the Private Securities Litigation Reform Act of 1995. All statements contained herein that are not historical facts, including statements regarding our competitive strengths, business strategy, future financial position, budgets, projected costs and plans and objectives of management are forward-looking statements. These statements include terminology such as “may,” “will,” “expects,” “may,” “intend,” “estimate,” “predict,” “believe” continue, “” on the road “and similar terminology.

Our outlook is predominantly based on our interpretation of what we consider key economic assumptions and involves risks and uncertainties that could cause actual results to differ from our forecasts. Crop production and commodity prices are strongly affected by weather and can fluctuate significantly. Housing starts and other construction activity are sensitive to interest rates and government spending. Among the other significant factors for us include general economic and capital market conditions, the cyclical nature of our business, customer buying patterns and preferences of customers, exchange rate movements, our hedging practices, our access to credit and that of our customers, actions by rating agencies concerning the Review our debt situation and our backed securities and ratings of Fiat SpA, political uncertainty and civil unrest in various parts of the world, pricing, product initiatives and other actions taken by competitors measures, production downtime, excess inventory levels, the impact of changes in laws and regulations (including government subsidies and international trade regulations), technological difficulties, changes in environmental laws, relationships with employees and unions, the cost of pensions and health care, energy prices, property prices, animal diseases, crop pests, harvest yields, government farm programs and consumer confidence, housing starts and construction activity , concerns about genetically modified organisms and fuel and fertilizer costs. Other influences on our achievement of the anticipated benefits of our profit improvement initiatives, including rationalizing, industry volumes as well as our ability to effect our operations and to execute our dual brand strategy. Further information on factors that could significantly affect expected results is included in our Form 20-F for the fiscal year 31 December 2003.

We can not guarantee that the turn out in our forward-looking statements contained expectations to be correct. Our actual results may differ materially from these forward-looking statements. All to end up written and oral forward-looking statements are expressly qualified by us in their entirety by the factors we disclose that could cause our actual results to differ materially from these forward-looking statements. We undertake no obligation to revise any forward-looking statements individually or collectively, to publicly update or.

Sany Heavy Equipment: Hong Kong IPO of up to 300 $ Mio.US

Hong Kong 07/30/2009 (www.emfis.com) The Chinese company Sany heavy equipment Co. intends to go to the Hong Kong Stock Exchange with the objective to fetch for the equivalent of at least 200 million U.S. dollars in capital into its coffers. Sources close rumored that even 300 million U.S. dollars were quite possible. The IPO is expected to take place in the fourth quarter.
This coming from the north-east China company, HSBC Holdings Plc in charge of the preparations.
The Sany heavy equipment is one of Sany Group, founded 20 years ago, which is in the range of equipment for construction, mining, port and wind power systems operate. The Goup generated

Wacker equipment on course for fusion

Three years Wacker Neuson: View of a successful merger world’s largest selection of construction equipment and compact heavy equipment – Major milestones reached – Market share gains in the upturn.

(Munich, 2 November 2010) The merger with the Wacker Neuson Group will mark the third time, the current strategy of offering light and compact heavy construction equipment from a single source has been a successful concept. The intermediate results after the first three years is positive: Key milestones of the merger have been achieved, further growth is assured.

Drive for the Fusion: Common focus on growth three years ago, on 31 Announced in October 2007, the company is the merger of the former Wacker Construction Equipment AG, Munich, with the former Neuson Kramer Baumaschinen AG, Linz (Austria). Since February 2009, the Group operates as a European joint stock company Wacker Neuson SE. At the start of talks with two companies had a strong common basis: Two traditional family, flexible and cost-effectively controlled with a high standard of engineering and quality as well as a range of market-leading products. Growth through the use of distribution synergies for both sides was the central theme. The introduction of the compact equipment via the existing worldwide distribution network of the light equipment, the company Wacker Neuson finally to the provider of the world’s widest product ranges of construction equipment (Light Equipment) and heavy compact equipment and a comprehensive range of services.

Promote teamwork and cost synergies, the Group actively promotes the convergence of corporate cultures and developed a common “corporate identity”. A major project currently is the Group-wide implementation of SAP to further integrate business processes.

Since 2007, the Group achieved significant successes and milestones:

get * High customer acceptance Light and compact equipment from one source, including rent and service, means the customer a distinct relief. In Switzerland, for example, Wacker Neuson reaped last year, a growth of 10 percent for a general sector growth of only 1 percent. This synergistic effect was clearly felt on this year’s ‘Bauma’ in Munich, where Wacker Neuson first time with the new product range this is: The new orders were up 25 percent over that of 2007, when both companies presented still separated.

* Introduction of compact equipment in other markets since the merger, the compact equipment from the Austrian production in Linz and from the German production Pfullendorf in the markets of North and South America, South Africa, the Middle East and some countries of the European Union the existing distribution network of the former introduced Wacker Group. Strategically important markets are the U.S., where the products of compact equipment were still largely unknown. The Wacker Neuson medium for positive business situation in the U.S. gives confidence that the Group will be established in addition to its strong market position with light equipment as a leading provider of compact Equipment. Launches in other countries such as Russia are in a revival plan. Additional revenue growth in compact Equipment Wacker Neuson is completed in June, get to 20-year alliance with Caterpillar. Caterpillar, the primary manufacturer of heavy equipment is being developed by Wacker Neuson Mini Excavators and produced to sell to a total weight of 3 tons under its own brand through its own worldwide distribution network.

* Wider range of products for agriculture provide the long term, the Group also in agriculture worldwide enabling environment to grow. The increasing mechanization of farms creates new demand for more versatile compact machines. To realize this potential, expanding the product range of Wacker Neuson brand Weidemann (compact equipment for agriculture) successively to other machines from the company that have been sold successfully in the construction sector (platform concept).

* to establish expansion and modernization of production capacity to build capacity for further growth, Wacker Neuson newly built within three years, four production plants. Thus arose new plants in Korbach (Weidemann), Pfullendorf (Kramer) and in Norton Shores, Alabama, and Manila, Philippines (both Light Equipment). In addition, the construction of the plant in Linz, Austria, is planned. Thus, the Group for all product areas with full capabilities to modern technological standards and the latest developments in sustainable production.

* Stronger together on the upswing, like all companies in the industry Wacker Neuson had particularly drastic drop in sales in 2009 to cope with. In the current year, the Group is already back on the upswing, and uses the combined strength of the merger to a disproportionate growth of the market share.

The future: continued international growth of Wacker Neuson Corporation is a balance, growth and innovative company that has set itself the goal to grow faster with the implementation of its strategies than the market. The company wants to gain market share, penetrate new markets and benefit from its intelligent platform concepts in the construction and agriculture.

Your contact partner at Wacker Neuson:

Wacker Neuson SE Katrina Neuffer Preußenstr. 41 80809 Munich Tel +49 – (0) 89 – 354 02-173 katrin.neuffer @ wackerneuson.com Internet: http://www.wackerneuson.com

About Wacker Neuson Wacker Neuson SE is a global provider of construction equipment (‘Equipment Light’) and compact heavy equipment for construction (‘Compact Equipment’) – with over 30 subsidiaries and over 180 sales and service locations worldwide and a wide range of products. Production takes place at three locations in Germany, at a site in Austria, two locations in the U.S. and at a site in the Philippines. The company’s products are branded Wacker Neuson. Exceptions to this in Europe are Kramer all-wheel of the brand and the brand Weidemann. With its range of services targeted by the company to the ‘professional users’ from the construction, gardening, landscaping and agriculture as well as from municipalities and companies from the industrial and recycling sectors. That the company offers more than 300 product groups in addition to leasing, spare parts and repair service.

11/02/2010 16:33 Release of a Corporate News, Financial news /, transmitted by DGAP – a company of EquityStory AG. The content of the message issuer / publisher is solely responsible.

DGAP Distribution Services include statutory reporting requirements, Corporate news / financial news and press releases. DGAP-media archive at-medientreff.de and http://www.dgap.de

Language: German Company: Wacker Neuson SE Preußenstr. 41 80809 Munich Germany Phone: +49 – (0) 89 – 354 02 – 0 Fax: +49 – (0) 89 – 354 02-390 E-Mail: info@wackerneuson.com Internet: http://www.wackerneuson.com ISIN: DE000WACK012 WKN: WACK01 indexes: SDAX stockmarkets: Regulated market in Frankfurt (Prime Standard); free trade in Hamburg, Munich, Dusseldorf, Berlin, Hannover, Stuttgart

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