Wacker Neuson raises 2010 outlook

Wacker Neuson has increased its outlook for this year based on a strong first half and robust orders.

The company's Executive Board has increased its prediction for revenues from the previous +5% growth to +10%, compared to 2009, which would point to sales of some € 657 million in 2010.

The company is also much more bullish about its profitability. Although it achieved a margin on earnings before interest, depreciation, tax and amortisation (EBIDTA) of 4.6% in 2009 - € 27 million - it had forecast that it would only break even in 2010. However, the company now says it expects to achieve an EBIDTA margin of at least 9% in 2010, which would translate to some € 59 million.