Wacker Neuson eyes 2025 turnaround after 15% revenue drop in 2024

Wacker Neuson has revealed in its Annual Report that its revenue for 2024 was 15% down on the previous year. Image: Wacker Neuson

The manufacturer of light and compact equipment said this was due to “the ongoing weak market environment” and that “Full dealer stocks led to a lower order intake and a decline in revenue, which was particularly evident in the second half of the year.”

The OEM warned that these challenging conditions would continue into the first quarter of 2025.

Revenue in the Europe region (EMEA) decreased by 14.4% and amounted to €1.73 billion (US$1.86 billion). This region is by far the largest market for Wacker Neuson, accounting for 77% of the company’s total revenue. Key countries in this region included Germany, France, Switzerland and the UK.

Sales also declined in the Americas, with the region declining by 19% to €450.7 million (US$485.4 million). The market dynamics in the Asia-Pacific region were comparable with the rest of the world and revenue in the fiscal year 2024 amounted to €52.5 million (US$56.5 million), a drop of 30%.

In order to counteract the declining revenue and earnings trend in 2024, Wacker Neuson introduced the ‘Fit for 2025’ measures at an early stage, thereby specifically strengthening sales, sustainably reducing costs, reducing headcount, optimising production capacities and successfully reducing inventories.

“The year 2024 was characterised by full dealer stocks and an increasingly weak order intake as well as revenues. The effects will still be felt in the first quarter of 2025,” said Dr. Karl Tragl, Chairman of the Executive Board of the Wacker Neuson Group.

“In light of the first positive indicators, in particular an improved order book and a reduction in dealer stocks at the beginning of the year, and last but not least thanks to the impact of our extensive actions from 2024, we have already set the course for a sustainable turnaround in 2025. With increased operational efficiency and consistent implementation of our Strategy 2030, we are well positioned to increase profitability again in 2025 and achieve our long-term goals.”