Wacker Neuson sales up

Wacker Neuson SE recorded preliminary 2008 sales of € 870 million, up +17,3% on the € 742 million reported for 2007. Pre-tax profit is expected to be € 100 million, down -14,5% on the € 117 million recorded in 2007.

Commenting on the results, a Wacker Neuson statement said the company regards its long-term prospects as good, although short-term trends are set to be characterised by the overall depressed economic outlook and less than favourable forecasts for the international construction industry.

"With these uncertainties in mind, the Group remains very cautious about business development in 2009 and has initially decided not to release projected figures for the year ahead," said a spokesperson.

"The Group will reduce expenditure in all areas and we will cut our investment budget by approximately -40% for the coming year," said the spokesperson. "Following the closure of our manufacturing facility in Tredegar, Wales, UK at the end of 2008, we have also implemented short-time work at our German production facilities in Reichertshofen and Pfullendorf and at our Austrian factory in Linz."