Wacker Neuson Q3 sales up 31.5%
By Murray Pollok15 November 2010
Wacker Neuson's third quarter revenues increased by 31.5% to €196 million compared to the same quarter in 2009 and EBITDA profits almost doubled to €25.0 million.
The company said the upswing occurred despite a reduction in the pace of global economic recovery from mid-2010 on, and "was reflected in clear revenue gains across all regions and business segments."
Wacker Neuson now expects revenues for 2010 to be at least 20% up on the previous year (group revenues were €597.0 million in 2009), and it expects the €1 billion sales levels of 2007 to be reached in 2013/14.
Richard Mayer, spokesman for Wacker Neuson's executive board, said; "Global demand for light equipment has been rising significantly for over a year now, particularly in the US. Demand for compact equipment is also developing positively, in particular in South America, Canada, South Africa and Switzerland."
The company's order backlog at the end of September was almost four times higher than at the same time in 2009. Wacker said delivery bottlenecks among suppliers were easing.