Wacker Neuson Se · XETR:WAC
Wacker Neuson — H1 2025 Earnings Presentation
18 slides from Wacker Neuson's earnings presentation, Aug 14, 2025
Slide 1: Wacker Neuson Group – H1/2025 Earnings Call & Webcast
Wacker Neuson Group – H1/2025 Earnings Call & Webcast Dr. Karl Tragl (CEO), Christoph Burkhard (CFO) August 14, 2025
Slide 2: Overview Q2/2025 and H1/2025
Overview Q2/2025 and H1/20251 Q2/2025 H1/2025 Revenue decrease mainly driven by Revenue Revenue negative volume effects. North America € 581.4 m € 1,074.9 m characterized by customer hesitation. (-5.0% YoY) (-10.8% YoY) Services business continued to grow. EBIT margin EBIT margin Declining EBIT marg
Slide 3: All regions down YoY due to weaker demand
All regions down YoY due to weaker demand Americas: Europe: Asia-Pacific: 20% of Group revenue1 78% of Group revenue1 2% of Group revenue1 in € m in € m in € m -10% -13% 925.6 835.2 250.6 -23% 217.8 28.6 21.9 H1/2024 H1/2025 H1/2024 H1/2025 H1/2024 H1/2025 1 H1/2024: Americas 21%; Europe 77%; APAC 2
Slide 4: First signs of the business segments' recovery
First signs of the business segments’ recovery Compact Equipment: Light Equipment: Services: 54% of Group revenue1 22% of Group revenue1 23% of Group revenue1 in € m in € m in € m -19% 726.2 -1% +3% 589.7 240.8 238.9 245.7 254.2 H1/2024 H1/2025 H1/2024 H1/2025 H1/2024 H1/2025 1 H1/2024: Compact Equi
Slide 5: Stable net working capital development
Stable net working capital development As of June 30, 2025 NWC ratio (annualized) 37.0% 39.0% 34.6% 35.5% 29.7% NWC ratio (LTM) 36.3% 34.2% 31.7% 32.8% 32.8% [€ m] 1000 900 800 700 600 500 Inventories Net working capital 30.06.2024 30.09.2024 31.12.2024 31.03.2025 30.06.2025 1 Net Working Capital (N
Slide 6: Positive trend in free cash flow continued in H1/2025
Positive trend in free cash flow continued in H1/2025 € 68 m € 299 m Free cash flow Net financial debt1 1.1 Net financial debt / EBITDA2 1 Net financial debt = Non-current financial liabilities + Current liabilities to banks + Current portion of non-current liabilities - Cash and cash equivalents. 2
Slide 7: Outlook 2025
Outlook 2025 Order intake and order backlog higher compared to Wacker Neuson Group previous year Guidance 2025 Investments in infrastructure and residential construction leading to a recovery in EU construction industry in the medium term Revenue EBIT margin CECE business climate index for the Europ
Slide 8: Key takeaways H1/2025
Key takeaways H1/2025 We are on track: revenues fully in line to reach full-year 1 guidance, profitability is expected to climb further in the coming quarters. The Strategy 2030 remains our north star – we are executing our 2025 2 action plan with discipline and are already setting the course for 20
Slide 9: Nobody is perfect, but a team can be!
Nobody is perfect, but a team can be! Wacker Neuson SE, H1/2025 Earnings Call & Webcast, August 14, 2025 9
Slide 10: Next financial events and IR contact
Next financial events and IR contact September 23, 2025 Berenberg and Goldman Sachs German Corporate Conference, Munich November 13, 2025 Publication of Quarterly Report Q3/2025, Earnings Call November 24-26, 2025 German Equity Forum, Frankfurt Disclaimer Contact This presentation contains forward-l
Slide 11: Appendix
Appendix Wacker Neuson SE, H1/2025 Earnings Call & Webcast, August 14, 2025 11
Slide 12: Revenue and profitability – Q2/2025
Revenue and profitability – Q2/2025 Profitability up compared to previous quarter but down YoY Comments on Q2/2025 Revenue EBIT [€ m] margin Revenue -5.0% YoY (adj. for FX effects: -3.8%) -5.0% • Revenue decrease driven by negative volume effects 800 20% 700 18% 593 612 581 16% Gross profit -3.3% Yo
Slide 13: Revenue and profitability – H1/2025
Revenue and profitability – H1/2025 Profitability impacted by negative volume effects Comments on H1/2025 Revenue EBIT [€ m] margin Revenue -10.8% YoY (adj. for FX effects: -10.4%) -10.8% 800 20% • Revenue decrease driven by negative volume effects 700 18% 593 612 581 Gross profit -12.4% YoY (gross
Slide 14: Development of regions and business segments
Development of regions and business segments All regions with decreasing revenues Comments on H1/2025 Revenue Share YoY EBIT1 Revenue Europe (EMEA) -9.8% YoY [€ m] (adj. for FX effects: -9.9%) Europe 835.2 78% -10% 30.3 • Germany, France and the United Kingdom down compared to Americas 217.8 20% -13
Slide 15: Development of NWC components – H1/2025
Development of NWC components – H1/2025 Inventories Trade receivables Inventories DIO1 Trade receivables DSO2 [€ m] [Days] [€ m] [Days] 1,000 400 500 200 780 387 384 800 726 400 665 622 300 318 328 150 616 594 298 600 300 254 157 143 152 142 146 200 100 400 123 200 60 57 56 55 45 51 100 50 200 100 0
Slide 16: NWC and cash flow development – H1/2025
NWC and cash flow development – H1/2025 Net working capital (LTM) Cash flow from operating activities Net working capital Net working [€ m] capital ratio1 [€ m] € 63 m € 100 m 1,000 918 906 100% 150 133 808 110 800 709 700 691 80% 100 61 63 600 60% 50 36 36% 36% 34% 1 32% 33% 33% 400 40% 0 Q1/24 Q2/
Slide 17: Financial structure development – H1/2025
Financial structure development – H1/2025 Net financial debt and gearing Net financial debt / EBITDA (LTM)3 Net financial debt1 Gearing2 [€ m] 500 466 100% 1.6 1.4 402 390 1.4 1.3 400 80% 1.1 1.1 1.1 1.1 311 299 1.2 298 300 60% 1.0 0.8 200 32% 40% 26% 26% 0.6 21% 20% 20% 100 20% 0.4 0.2 0 0% 0.0 Q1/
Slide 18: The Wacker Neuson SE share
The Wacker Neuson SE share Share price development vs. relevant indices1 Dividend payout 300% 4.00 +62% 53% 41% 48% 42% 58% 0% 45% 3.50 180% 3.00 2.73 160% 2.50 2.10 3 140% 2.06 1.99 2.00 120% 0.65 1.50 1.26 1.15 100% 1.10 1.00 1.03 1.00 0.50 0.90 80% 0.60 0.60 0.501.41 0.20 60% 0.60 0.00 0.00 2018