Wacker Neuson SE (WKRCF.PK), a German maker of construction machinery, has revised down its annual revenue guidance, citing weak market development.
In addition, in order to counteract the year-on-year decline in revenue, the Group has introduced the "Fit for 2025" measures at an early stage, to boost sales and reduces costs. "Nevertheless, so far this has not been enough to fully offset the revenue decline," the company said.
Karl Tragl, CEO of Wacker Neuson Group, said: "The market remains weak, which is why we are implementing a comprehensive list of measures to counteract this and also positioning ourselves in the best way possible for 2025."
For the full year, the company now expects EBIT margin of 5.5 percent to 6.5 percent, against prior outlook of 6 percent to 7 percent.
However, the expected investments for the full year would remain at around 100 million euros.
The Group now expects annual revenue of 2.200 billion euros to 2.300 billion euros, lower than earlier guidance of 2.300 billion euros to 2.400 billion euros.
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