Wacker Neuson has raised its expectations for the year after its most recent figures show strong trading.
The group’s results for the second quarter of 2017 reveal profit before interest and tax of 46.7m (US$54.8m), amounting to a 41% increase on figures for the same period in 2016, and resulting in an EBIT margin of 11%.
EBIT figures for the first half of 2017 were up 20% on the same period 12 months earlier, to 61m (US$71.5m), leading to an EBIT margin of 8%, and when adjusted to discount one-off effects from the first quarter, the margin rose 0.2%.
Wacker Neuson’s largest market, Europe, currently accounts for 73% of revenue, which was a 6% increase on 2016 figures, but positive results were not confined to there.
“We reported a 32% rise in revenue in North and South America for the second quarter and an increase of 23% for the first six months of the year. We are particularly pleased to see strong growth in compact equipment, especially with our skid steer loaders, wheel loaders and telescopic handlers. We have also made further progress on expanding our dealer network,” explained Cem Peksaglam, CEO of Wacker Neuson SE.
“We are positive about the second half of 2017 due to the healthy order situation and positive mood across all key markets. In Europe, we expect the construction industry to continue on its positive growth path and demand in the agricultural sector to rise. In Americas, we expect the strong performance of the first six months to continue, fuelled in particular by business with compact equipment.”
August 11, 2017