19.05.2014

Wacker Neuson doubles profits

Compact equipment and telehandler producer Wacker Neuson has reported a strong start to 2014.

Total revenues for the first quarter improved 13.4 percent to €291.6 million, driven entirely by higher sales in Europe, where sales increased over 21 percent, while sales in the Americas fell over two percent and dropped over eight percent in Asia/Pacific. Pre-tax profits almost doubled to €22.1 million, while net debt was cut over 28 percent to €184.8 million.

The company now expects full year revenues in the region of 1.25 to 1.3 billion.

Chief executive Cem Peksaglam said: “Our business was bolstered by the steady upturn in the European construction industry, a more upbeat mood across the European agricultural sector coupled with a relatively mild winter and a general revival in the US construction industry. We were able to strengthen our position in almost all of our markets. We will continue to look for sales opportunities in markets other than the construction and agriculture sectors and intend to align our products and services more closely with the needs of local customers.”

“Research and development – and the resulting innovations – are high priorities for our group, also due to their importance in achieving our climate protection goals. Our aim is to ensure that we continue to deliver needs-driven, ergonomic, environmentally sound and safe products as we move forward”.

Vertikal Comment

An excellent start to the new year, the company is making steady progress with its telehandler sales - which are included in its Compact Equipment range - and appears to be gaining ground on some of the longer established second tier telehandler manufacturers such as Dieci and Bobcat. This in addition to expanding sales of its more established product lines.

The company is becoming an increasingly significant player in the construction equipment market, and will make further gains as Southern Europe begins to pick up.