Wacker Neuson SE (WKRCF.PK) announced on Wednesday an 11.8% decline in preliminary revenue for the first half of 2024, attributed primarily to diminished demand in the construction and agricultural machinery markets.
Preliminary figures indicate that revenue dropped to €1.204 billion from €1.365 billion in the same period last year, while EBIT (Earnings Before Interest and Taxes) fell to €83.8 million from €176.7 million year-over-year.
Looking ahead, Wacker Neuson SE now forecasts annual revenue to range between €2.3 billion and €2.4 billion, down from the previous estimate of €2.4 billion to €2.6 billion.
"We have revised our guidance for 2024 as the current downturn is expected to extend into the second half of the year. In the coming months, we will adjust our cost structures and enhance our flexibility to better position ourselves for the future," stated Karl Tragl, CEO of the Wacker Neuson Group.
