06.04.2009

Wacker Neuson up 17%

Wacker Neuson the light equipment and telehandler manufacturer has reported its 2008 results, the first since Wacker and Neuson Kramer, revenues increased by 17.3 percent to €870 million. Meanwhile pre-tax profits slipped 28.8 percent to €62.1 million.

The company says that it is optimistic about the future and that it is in good shape financially to pull through the current downturn ready to exploit what it believes will be a strong upturn in late 2009 or early 2010.

Dr Georg Sick, Wacker’s chief executive, said: “Although business in 2008 initially developed in line with predictions, the second half of the year was characterized by a significant downturn on international construction markets in the US and Europe. This had a negative impact on light equipment sales, which then extended to compact equipment in the last six months of the year. We subsequently revised our forecast back in July 2008, and, thanks to our strict cost management strategy, were still able to exceed this target.”