Wacker Neuson eyes 2012 expansion

German construction equipment manufacturer Wacker Neuson has set its sights on further expansion this year after reporting a 31% year-on-year increase in revenues for 2011 to €992 million.

Revenue growth was particularly strong in in the US, Scandinavia and Central Europe, while the company said its compact segment line had seen strong growth in demand.

Wacker Neuson reported preliminary profit before interest, tax, depreciation and amortisation (EBITDA) of €163 million for 2011 - more than double the previous year's total. This corresponds to an EBITDA margin of 16.4%, compared to a 2010 margin of 10.3%.

The company - which said 2011 had been the best fiscal year in its history - plans to build on its international growth strategy in 2012. It said it was assessing the viability of launching compact equipment products in Asia, and has also started to expand its medium-price range of light equipment in Asia.

Wacker Neuson CEO Cem Peksaglam said the company would focus its investments on expanding its international sales and distribution network.

"By the middle of the year, we will have started production at our new compact equipment production facility in the Austrian town of Hörsching, near Linz - one of the largest, most modern factories of its kind. This will enable us to triple today's production capacity for excavators, dumpers, and skid steer loaders," he added.