Wacker Neuson Se · XETR:WAC
Wacker Neuson — FY2024 Earnings Presentation
22 slides from Wacker Neuson's earnings presentation, Mar 26, 2025
Slide 1: Full Year 2024 Earnings Call & Webcast
Wacker Neuson Group – Full Year 2024 Earnings Call & Webcast Dr. Karl Tragl (CEO), Christoph Burkhard (CFO) March 26, 2025
Slide 2: Overview Q4/2024 // Fiscal year 2024
Overview Q4/2024 // Fiscal year 20241 Q4/2024 Fiscal year 2024 Revenue EBIT margin NWC ratio2 FCF Revenue EBIT margin NWC ratio3 FCF € 512.5 m 2.7% 34.6% € 93.1 m € 2,234.9 m 5.5% 31.7% € 184.6 m (-20.0% YoY) (py: 5.1%) (py: 33.9%) (py: € 16.0 m) (-15.8% YoY) (py: 10.3%) (py: 32.8%) (py: € -24.9 m)
Slide 3: Europe and Americas on the level of 2022
Europe and Americas on the level of 2022 [€ m] +18% 1,709.9 2,022.4 -14% 1,731.7 78% of Group revenue1 20% 2022 2023 2024 2% EUROPE of Group revenue1 of Group revenue1 [€ m] +21% -19% 556.5 [€ m] -9% 459.1 450.7 83.4 -31% 76.0 52.5 2022 2023 2024 AMERICAS 2022 2023 2024 APAC 1 FY 2023: Americas 21%;
Slide 4: Successful net working capital management
Successful net working capital management As of December 31, 2024 NWC ratio (annualized) 33.9% 38.7% 37.0% 39.0% 34.6% NWC ratio (LTM) 32.8% 35.6% 36.3% 34.2% 31.7% [€ m] 950 900 850 800 750 700 650 600 550 500 450 Inventories Net working capital 31.12.2023 31.03.2024 30.06.2024 30.09.2024 31.12.202
Slide 5: Strong free cash flow supported by net working capital reduction
Strong free cash flow supported by net working capital reduction € 185 m € 311 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 eq
Slide 6: Continuity in paying attractive dividends
Continuity in paying attractive dividends Dividend per share and payout ratio 58% 5.00 4.50 48% 4.00 42% 3.50 3.00 2.73 2.50 2.10 2.00 1.50 1.00 1.15 1.03 1.00 0.60 0.50 0.00 0% 2022 2023 2024 Earnings per share in € Dividend per share in € Payout ratio ▪ Dividend policy with focus on offering our s
Slide 7: Strategy 2030
OUR VISION Our innovative solutions drive technological change. STRATEGY 2030 We make a strong contribution OUR PURPOSE to sustainable construction and agriculture. We make our customers OUR MISSION more productive than anyone else in the market. STRATEGIC PERSPECTIVES > 11 % € 4 bn ≤ 30 % EBIT MARG
Slide 8: Action items per strategic lever ensure strategy execution
Action items per strategic lever ensure strategy execution Wacker Neuson Group strategic levers 2030 2023 2024 2025 2026 … 1) Light Equipment Introduction of Introduction of new Battery One Reach light equipment market share target, Market Leadership new rollers and plates rammers implementation esp
Slide 9: Operational highlights 2025
Operational highlights 2025 "Solutions built for you" Brand new Wacker Neuson App Successful ramp-up John Deere Significant CO2e emission reduction at Bauma 2025 excavator from Linz (AT) factory ▪ Preparations for the world‘s largest ▪ Access to operating instructions, ▪ First excavators for the ▪ 5
Slide 10: Outlook
Outlook Increasing order intake since Tariffs as a risk factor CEMA1 beginning of the year Business climate index for European agricultural machinery sector increases since September, but still remains in the negative CECE1 Guidance 2025: ▪ Revenue between € 2,100 m and € 2,300 m Business climate in
Slide 11: Opportunities and challenges in 2025
Opportunities and challenges in 2025 German Special Fund for US tariffs Rebuild Ukraine infrastructure & climate protection On 18th and 21th of March, German federal Since middle of March the US has introduced a 25% Possible peace agreement and reconstruction in parliament and Federal Council have a
Slide 12: Key takeaways
Key takeaways 1 Improved cost position will support profitability in 2025 2 Steady market recovery after weak Q1 expected Full commitment to Strategy 2030: 3 2025 measures on track 4 Additional tailwind from the German Special Fund 5 Strong balance sheet supporting future growth Wacker Neuson SE, FY
Slide 13: Nobody is perfect, but a team can be!
Nobody is perfect, but a team can be! Wacker Neuson SE, FY 2024 Earnings Call & Webcast, March 26, 2025 14
Slide 14: Next financial events and IR contact
Next financial events and IR contact March 27, 2025 Jefferies 5th Pan-European Mid-Cap Conference, London May 8, 2025 Publication of Quarterly Statement Q1/2025, Earnings Call May 23, 2025 Annual General Meeting, Munich June 11, 2025 Warburg Highlights Conference, Hamburg August 14, 2025 Publication
Slide 15: Appendix
Appendix Wacker Neuson SE, FY 2024 Earnings Call & Webcast, March 26, 2025 16
Slide 16: Revenue and profitability – Q4/2024
Revenue and profitability – Q4/2024 Decreasing profitability compared to previous quarter Comments on Q4/2024 Revenue -20.0% EBIT Revenue -20.0% YoY (adj. for FX effects -20.1%) [€ m] margin ▪ Weak market environment continued to burden 800 699 20% construction machinery market 667 648 641 700 611 6
Slide 17: Revenue and profitability – FY 2024
Revenue and profitability – FY 2024 Revenue and profitability decreasing due to recessionary Comments on the fiscal year 2024 environment Revenue -15.8% YoY (adj. for FX effects -15.8%) Revenue +11.7% CAGR +17.9% -15.8% EBIT ▪ Revenue decrease due to weak market demand and high dealer stocks [€ m] m
Slide 18: Development of regions and business areas
Development of regions and business areas All regions decreasing due to weak market demand Comments on the fiscal year 2024 Revenue [€ m] YoY EBIT1 Revenue Europe (EMEA) -14.4% YoY (adj. for FX effects -14.4%) Share Europe 1,731.7 78% -14% 79.0 ▪ Revenue decreases in Germany, France and the United K
Slide 19: Successful reduction of inventories in the fiscal year 2024
Successful reduction of inventories in the fiscal year 2024 Inventories Trade receivables Inventory DIO1 Trade receivables DSO2 [€ m] [Days] [€ m] [Days] 1,000 400 500 200 783 819 780 405 393 742 774 377 387 384 800 726 400 347 679 665 300 318 150 622 301 600 300 254 154 141 157 143 152 142 200 100
Slide 20: Efficient working capital management
Efficient working capital management Net working capital Operating cash flow Net working capital Net Working Capital Operating cash flow [€ m] [in % of revenue]1 [€ m] 1,000 884 919 918 906 100% 150 133 870 802 808 110 800 719 709 80% 100 60 70 61 22 29 600 60% 50 36% 39% 37% 39% 32% 34% 35% 400 29%
Slide 21: Robust financial structure with slightly higher equity ratio
Robust financial structure with slightly higher equity ratio Net financial debt1 and gearing2 Net financial debt/EBITDA (LTM)3 Net financial debt1 Gearing2 Net financial debt/ [€ m] EBITDA3 500 466 100% 1.6 1.4 90% 1.4 1.3 402 390 400 376 366 80% 1.2 1.1 1.1 353 311 70% 1.0 0.9 0.9 0.8 300 258 60% 0
Slide 22: The Wacker Neuson SE share
The Wacker Neuson SE share Share price development vs. relevant indices1 Dividend payout 300% 4.00 +23% 53% 41% 48% 42% 58% 0% 45% 3.50 150% 3.00 2.73 135% 2.50 2.10 3 120% 2.06 1.99 2.00 105% 0.65 1.50 1.26 1.15 90% 1.10 1.00 1.03 1.00 0.50 0.90 75% 0.60 0.60 0.501.41 0.20 60% 0.60 0.00 0.00 2018 2