Wacker Neuson Reports 16% Growth

Wacker Neuson said 2021 revenue was about $2.03 billion, up 15.5 percent from 2020 numbers.

“Looking back on 2021, hard work and a concerted effort made this a successful year,” said Karl Tragl, CEO, in a prepared statement. “We were hampered by overstretched and repeatedly disrupted supply chains. Raw material and component shortages repeatedly led to rework efforts and this, compounded by rising material prices and spiraling shipping costs, had a negative impact on margins. However, our employees worked tirelessly to get as many machines as possible onto our production lines and delivered to our customers despite all the obstacles.”

Revenue in the Americas recovered in fiscal 2021, partly driven by a gradual upturn in demand from rental firms as the year progressed. Sales rose 21.5 percent overall to reach about $358 million.

Wacker Neuson expects 2022 sales to register about $2.07 to $2.18 billion. It cites staff shortages caused by the Omicron variant—both on the supply side and within the Wacker Neuson Group's production and logistics networks—the company expects tight supply constraints to continue with limited visibility into future developments. It is unlikely that the Group will be able to fully compensate for the resulting inefficiencies and the significantly higher input, shipping, and energy costs compared with the previous year.

This forecast does not factor in the currently unpredictable impact of the war in Ukraine on macroeconomic developments and global supply chains.

Source: Wacker Neuson