Wacker Neuson achieves revenue, profit goals for 2013, expects to continue growth in 2014
| March 31, 2014 |
Releasing 2013 financial results, German manufacturer Wacker Neuson says its group revenue rose 6 percent to just under $1.6 billion over the previous year, a result dampened somewhat by currency fluctuations.
Cem Peksaglam, CEO, says the company was able to further expand its market position, particularly in the company’s Americas region, which experienced an increase of 8 percent in revenues.
Europe, the company’s largest market, saw a 6 percent increase in revenue, compared to the previous year.
The company’s light equipment segment rose by 2 percent and its compact equipment group rose by 12 percent.
Peksagiam cites the infrastructure needs of developing companies when commenting on the company’s future growth: “Our long-term aim is to increase the revenue share of markets beyond Europe, which currently account for 29 percent of total revenue; we would like to see this rise to around 50 percent,” he says.
If positive trends continue, he says, the company expects revenues to reach between $1,725 and $1,794 million in 2014.