Wacker Neuson H1 Profit, Revenue Down

(RTTNews) - Wacker Neuson SE(WKRCF.PK), a German construction equipment and machinery maker, on Tuesday reported a fall in its profit for the half year, with a double-digit decrease in revenues, reflecting lower revenues across all regions.

For the first half, profit declined to 54.7 million euros from 126.0 million euros, and earnings per share fell to 0.80 euros from 1.85 euros last year

EBIT in the half-year period slid by more than 50 percent to 83.8 million euros, and EBIT margin slipped to 7.0 percent from 12.9 percent, mainly due to volume effects.

For the first half, the Group's revenue slid by 11.8 percent to 1.204 billion euros from 1.365 billion euros last year. Region wise, revenue in Europe fell by 9.6 percent, and revenue in the Americas declined by 16.7 percent. Revenue in the Asia-Pacific region declined by 31.4 percent for the period.

Looking ahead, for the full year 2024, Wacker Neuson now expects revenue of 2.30 - 2.40 billion euros and an EBIT margin of 6.0 - 7.0 percent.