The group posted new record revenue and earnings figures for the first six months of the year, and has confirmed its forecast for fiscal 2014.
The company reported revenue of €328.4 million for Q2, 2014, bringing the group close to the record figure reported for the prior-year period (Q2 2013: €329.0 million). Adjusted to discount currency fluctuations, revenue increased by 2%.
Profit before interest and tax (EBIT) reached €41.3 million in the second quarter of 2014, an increase of 41% compared to the previous year (Q2 2013: €29.3 million) meaning the group's EBIT margin grew from 8.9% to 12.6%, with the EBITDA margin increasing from 13.6% to 17.3%.
In the first six months of 2014 revenue grew by 6% on the previous year to €620 million (H1 2013: €586.1 million), a new record high for the group.
“We were able to further expand our market position in Europe, boosting revenue here by 10%,” says Cem Peksaglam, CEO of Wacker Neuson.
“We also reported growth in North America. However, South America and Asia-Pacific developed below our expectations due to falling demand and currency fluctuations.”
The compact equipment segment proved to be a key growth driver, with revenue increasing 13%.