Wacker Neuson up as it unveils 2030 targets

Wacker Neuson SE

14/06/2023 07:20

** Wacker Neuson  WACGn.DE  rises 4% in early trade after
the German construction equipment maker released its 2030
strategy
    ** The producer of excavators and rammer hammers aims to
increase its revenue to 4 billion euros ($4.3 billion) and EBIT
margin to above 11% by 2030
    ** In 2022, the company reached revenue of 2.5 billion euros
with an EBIT margin of 9%
    ** The outlook is based on current market scenarios and
average annual growth of 8%, with only organic growth drivers
included, Wacker Neuson says
    ** It adds the recent implementation of efficiency measures
has improved profit margins
    ** The company says it is well positioned for acquisitions
in the coming years and "will take advantage of these at any
time"
    ** Shares "might act slightly positive, although margin
target doesn't look very ambitious", a local trader says

($1 = 0.9272 euros)

 (Reporting by Andrey Sychev)
 ((Andrey.Sychev2@thomsonreuters.com))