Wacker Neuson Annual Profit Declines

(RTTNews) - Wacker Neuson SE (WKRCF.PK) on Wednesday posted lower profit for fiscal 2024, impacted by lower revenues and the ongoing weak market environment. The company remains optimistic about the year ahead, and also provided fiscal 2025 outlook.

For the full year the company posted result of 70.2 million euros, down from 185.9 million euros a year ago.

On a per share basis, the construction machinery manufacturing company earnings fell 62 percent to 1.03 euros from 2.73 euros last year.

EBIT for the year came in at 122.5 million euros, a 55 percent decline from 273.2 million euros recorded in the prior-year. EBIT margin was 5.5 percent, down from the 10.3 percent in fiscal 2023.

The company posted revenues of 2.23 billion euros in the year, a 16 percent drop from last year's 2.65 billion euros. Revenues were impacted by low sales in the European region, mainly Germany, France, Switzerland and the UK.

The company said that its Supervisory Board will propose a dividend of 0.60 euro per share at its Annual General Meeting on May 23. This is lower than last year's dividend of 1.15 euros.

Looking ahead, for fiscal 2025, the company said that the incoming order intake has been positive since the beginning of the year. After experiencing a weak first quarter, the company expects revenues and EBIT to perform better over the course of the year.

For the year ahead, Wacker Neuson expects revenue between 2.10 billion euros and 2.30 billion euros and an EBIT margin in the 6.5 percent to 7.5 percent range.

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