Wacker Neuson posted a 12.7-percent increase in group revenue in 2017, reporting €1.534 million compared to €1,361 million in 2016, driven by market-share gains in a favorable business climate and an upswing in almost all key regions.

Revenue in the Americas totaled €358 million compared to €292 million in 2016, a 22.6-percent jump. Growth was driven by workplace technology products as well as skid-steer loaders manufactured in the United States and compact equipment imported from Europe.

In Europe, Wacker Neuson’s largest market, revenue was €1,130 million compared to €1,021 million a year ago, a 10.7-percent increase, with Germany the strongest revenue driver. The group has more than 60 sales and service stations flanked by a supporting network of dealers. The trend was reflected across the region with the broad majority of European countries contributing to healthy revenue growth. France, Poland and Austria performed particularly well in Europe. Rising food prices led to growth in the agricultural market., but revenue was dampened by the termination of the OEM collaboration with Claas. Wacker Neuson’s new partnership with Deere started to show positive results.

Revenue for the Asia-Pacific region dropped 5 percent year over year to €47 million.

Profit before interest and tax (EBIT) grew 48 percent to €131 million, an 8.6-percent EBIT margin. Free cash flow for fiscal 2017 nearly tripled to €99 million, a record high for the company.

Wacker Neuson is optimizing its internal structures. In 2018, the group will incorporate two of its 10 production plants into existing facilities. The U.S. factory in Norton Shores, Mich., will relocate to the much larger facility in Menomonee Falls, Wis. The company’s light equipment product plant in the Philippines will be moved to the company’s new factory in China.

“We were able to further expand our market reach at national and international levels and gain new market shares,” said Wacker Neuson CEO Martin Lehner. “There is still plenty of potential for us to grow in our main regions. We are particularly keen to leverage growth potential in our core business fields with compaction and concrete technology from our light equipment segment and products from our compact equipment offering. The aim of ‘Strategy 2022’ is to ensure that the company is focused 100 percent on our customers’ needs. The three strategic pillars of ‘focus’, ‘acceleration’ and ‘excellence’ guide all of our actions here.”

Wacker Neuson believes that alternative drive technologies will play an important role in the future. “This trend is being accelerated not only by changes in legal regulations, but also by rising demand from the market as the compelling ergonomics, environment, health and safety benefits of electric motors resonate with more and more users. Our developers are working on numerous new developments that will open up major opportunities for us to play a leading role in shaping the future of light and compact equipment. Our goal is to offer a genuine zero-emissions alternative in each of our core product groups.”

Lehner said digitalization is another megatrend shaping product development, production, sales and service.

The company expects revenue between €1.65 and €1.7 billion in 2018, an increase of 8 to 11 percent.