18.11.2010

Wacker Neuson up 31%

Wacker Neuson, manufacturer and owner of the Kramer Alrad brand of telehandlers has reported third quarter revenues up more than 31 percent.

Nine month revenues to the end of September was €551.7 million, 24.6 percent higher than for the same period a year ago. At the same time pre-tax profits were €22.9 million, compared to a loss at this point last year of €15.2 million.

An easing in supplies of component in the third quarter allowed more of the company’s backlog to be produced resulting in a 31.5 percent rise in revenues to €196 million. Pre-tax profits meanwhile were up 164 percent to €13.8 million.

As a result of the strong positive trend and an order book more than three times higher than last year the company has increased its forecast for the full year to reflect an improvement of at least 20 percent, which will take annual revenues up to €720 million – close to a billion dollars.
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Kramer Alrad 1245

Richard Mayer, spokesman for the Wacker Neuson executive board said: “We are increasingly winning market share by leveraging sales synergies across our business segments. Global demand for light equipment has been rising significantly for over a year now, particularly in the US. Demand for compact equipment is also developing positively, in particular in South America, Canada, South Africa and Switzerland.”

Vertikal Comment

Wacker Neuson is not yet a significant player in the telehandler market, however it is steadily expanding its product range with excellent products in terms of design and quality. It is also present in both agricultural and construction markets and with its light equipment distribution network, could benefit more from the increasing interest in ultra compact models in the years ahead.

One to watch.