Wacker Neuson Group posted about $728 million in first quarter revenue, up 27.9 percent from the same period a year ago.
All three reporting regions had high increases in revenue, including a 57-percent spike in the Americas region to about $166 million. The U.S. market in particular saw a sharp year-on-year increase in demand, according to Wacker Neuson, but demand also developed very positively overall in Canada and the South American markets.
In the Europe (EMEA) region, revenue rose by 22.4 percent to about $550 million, with Germany showing particularly positive growth. On the product side, demand for excavators, wheel loaders, and telehandlers increased noticeably.
“The issue of supply chains continues to shape our day-to-day business,” said Christoph Burkhard, CFO, in a statement. “We are still a long way from a normalization of the situation. However, the continued increase in inventory levels paid off in the first quarter as we systematically exploited our growth opportunities.”
Source: Wacker Neuson Group
