MUNICH (dpa-AFX) - Construction equipment manufacturer Wacker Neuson aims to keep up its growth rate in the coming years and become more profitable. As a result, revenue is set to grow by an annual average of eight percent and reach around four billion euros by 2030, the company announced in Munich on Wednesday. Operating profit is expected to more than double compared to 2022. The management board headed by Karl Tragl has not yet included possible acquisitions in the calculation, but expressly holds out the prospect of them. The news was well received on the stock market.

At midday, Wacker Neuson shares were up more than six percent at EUR 21.90, making it the second strongest stock in the SDax small-cap index. Industry expert Stefan Augustin from analysts Warburg Research was positive about the new medium-term targets. They were significantly higher than analysts and he himself had expected. In his opinion, Wacker Neuson's cooperation with US agricultural machinery manufacturer Deere & Co is particularly attractive.

Last year, Wacker Neuson generated revenue of just over EUR 2.25 billion and earnings before interest and taxes (Ebit) of just under EUR 202 million. This corresponded to an operating profit margin of nine percent. By 2030, this operating margin is expected to grow to eleven percent. With the planned increase in sales to four billion euros, operating profit would thus more than double to around 440 million euros.

To achieve these goals, management intends to expand Wacker Neuson's market position in soil and concrete compaction equipment. By 2025, the focus would be on market share for rammers, plates, trench rollers, and internal and external vibrators. In addition, the share of zero-emission construction machinery is set to grow, as is revenue from the spare parts and service business. Wacker Neuson is aiming for stronger growth in the Americas in particular. This includes collaborating with John Deere on a supply agreement for mini and compact excavators.

To increase operating profit margins, Wacker Neuson's Executive Board is focusing on further efficiency improvements in production. Such measures have already had a positive impact in previous quarters, it said. The company is now expanding its steel construction plant in Serbia, which was only opened last year. In addition, the individual divisions are now coping better with the current economic environment and the associated problems.

The Executive Board also intends to continue looking for possible takeover targets. The company sees itself well positioned for this in the coming years and will take advantage of "attractive acquisition opportunities" at any time, the statement said./stw/mis/tav/jha/