30.03.2022

Profit boost for Wacker Neuson

Telehandler manufacturer Wacker Neuson has reported is full year results for 2021 which show a 16 percent rise in sales.

Total revenues for the year were €1.87 billion and increase of almost 16 percent, this was driven largely by strong increase in Europe and North America, while sales of compact equipment, which includes telehandlers increased at a faster rate than light equipment and services. Pre-tax profits more than tripled to €187.4 million.

Sales in Europe improved 14.6 percent to €1.48 billion, while revenues in the Americas - largely North America - jumped 21.5 percent to €328.6 million. In Asia Pacific sales came in 8.5 percent higher at €60.1 million. Sales of Compact equipment increased 21 percent to €1.63 billion and now represent 56.6 percent of the total, while revenues from Light equipment improved 13.4 percent to €399 million.

The company has reported a strong improvement in cash flow, to the point where it was able to increase R&D spending, pay a decent dividend and eliminate net debt which stood at €122.9 million at the same point last year.

Wacker Neuson also has a small business in Russia and made the following statement: “We are following the events currently unfolding following the attack on Ukraine with deep shock and dismay. Our concern and compassion go out to our Ukrainian and Russian colleagues, as well as to our customers and business partners in both countries. At the Wacker Neuson Group, we condemn this military campaign and the violation of Ukraine’s sovereignty and territorial integrity in the strongest terms, and hope for a swift and peaceful end to this war.”

Vertikal Comment

Another decent set of numbers from Wacker Neuson. The company is financially strong and making steady progress towards the €2 billion level as its Compact Equipment business goes from strength to strength. As with other companies it has seen substantial increases in raw material and component costs but seems to have managed the process relatively well.
It still has plenty of scope for expansion, both in terms of its product range and geographical coverage, not to mention brand building potential. The future looks bright.