Further growth for Wacker Neuson
By Sarah McCay11 August 2014
Wacker Neuson continued to feel the benefits of the mild winter and the earlier start to the construction season in Europe, with the German manufacturer reporting its second quarter of growth, taking its first half revenue for 2014 to €620 million, up from €586 million for the first half of 2013.
Second quarter 2014 revenue remained on a par with 2013 figures at €328.4 million, compared with €329 million the year earlier.
The short, mild winter in Europe meant construction companies brought forward a number of investments, resulting in a strong first quarter for the light and compact construction equipment manufacturer.
This strong start to the year has followed through with Wacker Neuson reporting a 26.5% increase in earnings before interest, taxes, depreciation, and amortization (EBITDA) to €56.8 million for the second quarter of 2014, up from €44.9% for the same period in 2013. EBITDA for the first half jumped 33.4% over 2013 figures, with first half 2014 reporting €93 million, up from €69.7 for the first half of 2013.
Wacker Neuson posted even stronger gains in profit. In the second quarter of 2014, profit stood at €28.2 million - up 52.4% on 2013’s second quarter profit of €18.5 million. For the first half of 2014, profit was up 70.7% at €42.5 million, compared with €24.9 million for the first half of 2013.
Wacker Neuson is optimistic for further growth for the rest of the year. CEO Cem Peksaglam said, “Strong traction from established markets in Europe and North America, plus the momentum from our current strategy path are all set to benefit our business over the current year.
"Our order books are full and order intake for compact equipment up to the end of June was 30% higher than the same time last year.”