In the first nine months of 2012, the Wacker Neuson Group revenue rose 12 percent to EUR 812.6 million (9M 2011: EUR 727.6 million) -- a record result for the period. Light equipment and compact equipment were the strongest segments, reporting increases of 10 and 14 percent respectively. The Americas was the strongest regional revenue driver, with a rise of 22 percent. In Europe, revenue grew by 8 percent.
Group revenue for the period July through September 2012 rose by just 2 percent to reach EUR 254.5 million (Q3 2011: EUR 248.9 million). Even allowing for the fact that the prior- year period was relatively strong by comparison, the results nonetheless reflect a downturn in the economy, especially in the European construction sector.
“During the third quarter in particular, we felt the impact of falling demand in the European construction industry as a result of the ongoing finance and debt crisis,” explains Cem Peksaglam, CEO of Wacker Neuson SE. “In contrast, our revenue in the Americas region continued to develop well, rising 10 percent on the prior-year period. The Asia-Pacific region reported 16 percent growth on the prior-year period,”
The services segment accounted for over one fifth of Group revenue. “Our services segment also developed extremely well in the third quarter, increasing by over 13 percent on the previous year. Services will continue to play an increasingly important role for Wacker Neuson,” continues Peksaglam.
Outlook and forecast for 2012
The fourth quarter got off to a promising start, although Group performance varied significantly from region to region. The Americas region looks set to continue on its growth path, whereas demand in Europe will most likely fall further.
“We will continue to monitor market developments closely and retain our high level of flexibility, thus enabling us to react rapidly to any market changes,” confirms Peksaglam. “Our current order intake levels leave us optimistic for the fourth quarter of 2012.”
Wacker Neuson has reconfirmed its forecast for the current year and expects revenue to amount to around EUR 1.1 billion (2011: EUR 991.6 million). It also expects the EBITDA margin level out between 13 and 15 percent (2011: 16.4 percent). Wacker Neuson will remain committed to its strategy of increasing core market penetration and expanding its international footprint. The company also plans to grow further in 2013, depending on how the general economic climate develops, especially in Europe.