Wacker Neuson Group outperformed expectations in fiscal 2010, according to preliminary figures released this week by the Munich-based company. Revenue jumped 27 percent to €757.9 million (about U.S. $1.03 billion), compared with €597 million in 2009, fueled by an economic improvement in the United States and Europe, increasing demand for light and compact equipment.
Above-average fourth-quarter growth was a big part of the increase, with revenue leaping 34 percent to €206.3 million (about U.S. $280 million) compared with €154.2 million for the fourth quarter of 2009.
Preliminary figures for EBITDA were €77.8 million, nearly tripling 2009 EBITDA of €27.2 million. EBITDA margin was 10.3 percent, compared with 4.6 percent in 2009. Wacker Neuson had previously projected a sales increase of 20 percent and an EBITDA margin of 10 percent or more.
The compact equipment segment started off 2011 from a strong position with the year-end order backlog 350-percent higher than the previous year. The executive board expects business overall to continue to develop positively and projects total revenue to increase at least 15 percent in fiscal 2011, with an EBITDA margin of at least 12 percent.
Complete results will be released March 24.