The Wacker Neuson Group enjoyed strong growth in fiscal 2023, managing to increase profitability simultaneously.
Although challenges ramped up as the year progressed, the Wacker Neuson Group was still able to achieve profitable growth and reached the targets announced most recently. Revenue rose sharply by 17.9% to EUR 2,654.9 million (2022: EUR 2,252.4 million). Earnings before interest and taxes (EBIT) increased even faster at 35.4 percent and reached EUR 273.2 million (2022: EUR 201.8 million).
At 10.3 percent, the EBIT margin was higher than the previous year’s level (2022: 9.0 percent). This performance puts the Wacker Neuson Group firmly on track to achieve its Strategy 2030. Aligned with ten strategic levers, execution of this strategy is expected to deliver a revenue of EUR 4 billion and an EBIT margin of more than 11 percent in the long term.
“Fiscal 2023 began with dynamic growth, which increasingly gave way to downward trends across many sectors of the economy in the second half of the year,” said Dr. Karl Tragl, chairman of the executive board and CEO of the Wacker Neuson Group. “Once more, our global teams demonstrated that our experienced and motivated employees are able to achieve extraordinary results for Wacker Neuson Group in challenging times. And all of this against the backdrop of celebrations for our 175th anniversary. This solid foundation will also keep us on course with our Strategy 2030 in the long term. Even though the underlying economic conditions are very uncertain at the start of 2024, we feel well positioned. We will use this year to further improve structures and flexibility, increase efficiency and actively prepare the next stage of growth.”
