The Wacker Neuson Group published preliminary figures for the 2025 financial year, reporting group revenue of approximately €2.219 million, which fell within the middle of its guidance range of €2.150 to €2.250 million. The earnings before interest and taxes (EBIT) margin was 6.0 percent, below the guided range of 6.5 to 6.8 percent due to one-off effects in the fourth quarter. Without these effects, the EBIT margin would have been 6.5 percent, meeting expectations. The company achieved a free cash flow of €202 million, marking an increase from the previous year, while reducing its net working capital ratio to 29.2 percent, below both the target maximum of 30 percent and the guided value of 34 percent.
The market environment remained subdued at the beginning of 2025 following a challenging 2024, resulting in weak revenue and earnings in the first quarter. However, the company made noticeable progress throughout the year, with revenue and profitability developing positively and operational performance improving. Strategic milestones included the production launch of the first excavator models within the OEM cooperation with John Deere at the Austrian plant in Linz. This cooperation is expected to strengthen the Group's operational resilience and competitive position in the North American market. Leading trade fairs such as Bauma in April 2025 and Agritechica in November 2025 provided additional momentum, showcasing innovative offerings from zero-emission solutions to digital services.
The Group also adapted to challenges posed by increased US tariffs on European machinery and components since summer 2025, limiting effects through short-term adjustments in procurement, production, and logistics. Investments amounted to €67 million, below the guided value of approximately €80 million, due to a slower-than-expected market recovery and adjusted investment management. Dr. Karl Tragl, CEO of the Wacker Neuson Group, commented that after a challenging 2024, the company improved in revenue and profitability in 2025, successfully mastered the production launch for John Deere, and adapted to exogenous factors like US tariffs. With the end of public takeover discussions with Doosan Bobcat Inc., the focus remains on long-term profitable growth.
For the 2026 financial year, the Wacker Neuson Group expects a slight market upturn after a period of stagnation and correction, despite ongoing geopolitical tensions and economic uncertainties. The company anticipates a moderate revenue increase and improvement in the EBIT margin, driven by positive momentum from infrastructure and modernization programs in Europe and solid demand in North America, even with ongoing US tariffs. The Group continues to pursue its Strategy 2030 targets for profitable growth, operational excellence, and long-term value creation. The final 2025 figures and 2026 guidance will be published on March 26, 2026. More information is available on the company's website at www.wackerneusongroup.com.
