Wacker Neuson reports third quarter growthPublished 27/12, 2018 at 09:27
In the third quarter of 2018, the Wacker Neuson Group reported that it has continued to build on its successful development evident during the first half of the year, with revenue increasing10% to €416M (Q3 2017 was €379M).
Growth was fuelled by the continued strong demand in its core markets of Europe and North America, as well as positive developments in the Group’s agricultural equipment. In Europe, which is the largest sales market for the Group, Q3 revenue increased 10% to €307M (Q3 2017 was €280M), with the region’s share of Group revenue remaining unchanged at 74%.
“In addition to robust growth in the European construction industry, our business with equipment for the agricultural sector had a disproportionately positive impact on regional development with revenue from our two Kramer and Weidemann brands increasing 21%,” explains Martin Lehner, CEO of Wacker Neuson SE. In the Americas region, which accounts for around 23% of Group revenue, revenue for the third quarter rose 11% to €98M (Q3 2017 was €88M). “We benefited in particular from continued strong demand from the North American rental industry,” adds Lehner. In contrast, the Group experienced a drop in revenue in South America. Revenue for Asia-Pacific rose 10% to €11M (Q32017 was €10M), corresponding to a 15% increase when adjusted for currency effects.