Wacker Neuson SE (WKRCF.PK) on Thursday reported lower results in the first quarter, impacted by weak demand, mainly in the second half of 2024. The company also reaffirmed its outlook for fiscal 2025.
The German manufacturer of light and compact equipment posted result of 4.2 million euros in the first quarter, down 82 percent from 23.3 million euros in the same quarter last year.
On a per share basis, earnings dropped 82.4 percent to 0.06 euro from 0.34 euro in the year-ago quarter.
Quarterly revenues declined 16.8 percent to 493.5 million euros from 593.1 million euros in the previous-year period.
EBIT for the first quarter came in at 12.1 million euros, a 67.2 percent decline from 36.9 million euros recorded in the same period a year ago.
Looking ahead, the company reiterated the guidance for the fiscal year 2025. Revenue is still expected between 2.10 billion euros and 2.30 billion euros and EBIT margin is expected between 6.5 and 7.5 percent.
Wacker Neuson added that the stabilization of demand in the key markets for the Group is expected in 2025 after a still weak first quarter.
Commenting on the results, Karl Tragl, CEO, said, "Following an expectedly subdued start to 2025, we are now looking ahead to the rest of the year. The first three months of this year were still affected by the weak order book of the second half of the previous year. However, with a noticeable upturn in order intake since the beginning of the year and the positive momentum provided by Bauma 2025, we believe we are well positioned for the upcoming quarters - even in a continuing challenging macroeconomic environment. We anticipate that revenue and profitability will significantly improve in the further course of the year."
For comments and feedback: editorial@rttnews.com