Wacker Neuson lowers forecast

Wacker Neuson has lowered its revenue and profit forecast for the current financial year, despite record revenue and earnings for the first half of 2015.

Revenue and profit has developed below expectations as a result of the economic slowdown in emerging markets, the German machine manufacturers said.

The board has therefore lowered its forecast for the year, and it now expects revenue to be between €1.35 billion to €1.4 billion. Its previous estimate was between €1.4 billion to €1.45 billion. It also estimates earnings before interest and taxes to be between 7% and 8%, compared to the previous estimate of 9.5% and 10%.

In August, Wacker Neuson reported a record revenue of €706.4 million for the first half of the year.