10% profit can happen again this year, says Wacker Neuson
By Steve Ducker22 April 2015
Wacker Neuson regional president Europe, Dieter Freisler, said there is no product, acquisition or European market the German company will not consider as it pushes for year on year double digit profit growth.
Mr Freisler told a press conference at the Intermat exhibition in Paris: "Our growth in 2014 was in double digits and we believe it will reach 10% again this year. We are gaining market share and every sector is growing - not just construction but landscaping and gardening as well.
"Internationalisation is on the increase and we are looking for dealers in countries where we don't have subsidiaries at the moment. We want to be in every country in the world."
Speaking about the possible risks in such a strategy, Mr Freisler said: "In Russia, we had big problems with the currency, but the rouble is coming back and Russia is becoming stable again. The Spanish economy is coming back as well. Italy is recovering.
"There must be risks when the target is doube digit growth. Our job is to find the solutions to minimise the risks."
Wacker Neuson has used Intermat to launch an extensive range of excavators, loaders, dumpers and rammers, but Mr Freisler was keen to point out that new products might not be the only route to market in the near future.
He said: "To have growth of 10% you need mergers and acquisitions, especially when your goal is get to that level of growth quickly.
"So yes, we are thinking about mergers and acquisitions in our core segments."