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Solid start for Wacker Neuson

9. May 2018 | Comments (0)

Telehandler manufacturer Wacker Neuson has got off to a good start in terms of revenue and profit growth.

Total revenue for the quarter was €370.5 million 9.5 percent up on the same quarter last year, thanks to strong growth in France, the UK, Poland, Austria and Benelux countries, while Southern Europe continued to improve along with North America. The company’s new telehandler alliance with John Deere has also started contributing. The result would have been stronger had the dollar not weakened against the Euro. Pre-tax profits jumped 57.3 percent to €20.6 million.

The company has confirmed its previous full year forecasts with revenues expected to be eight to 11 percent higher at between €1.65 and €1.7 billion.

Chief executive Martin Lehner said: “In the US, we benefited from a number of trends including increased investments from rental chains stocking up on worksite technology such as generators and heaters. Our performance was also bolstered by strong sales of our US produced skid steer loaders. Revenue for the Asia-Pacific region rose 16 percent with growth particularly strong in China, where the group started series production of mini excavators in January.”

“In April, we presented a host of new products and innovations to our customers and business partners at Intermat, which is this year’s largest construction industry trade show. The mood across the industry is very positive.”

Vertikal Comment

Another good quarter from Wacker Neuson, which appears to be going from strength to strength, sales outside of its dominant European market are increasing significantly and the company looks to be approaching its many new ventures with a calm and long term view.

Given all the irons it has in the fire, it is more than likely that the company will exceed its projections and see growth exceed the upper range of its forecasts. The company is gaining some decent momentum for its telehandlers both in the construction and agricultural markets.

Another positive piece of financial news
Isoli

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