Wacker Neuson Group: first quarter of 2026 shows a strong start into the year

Wacker Neuson Group: first quarter of 2026 shows a strong start into the year

• Group revenue in Q1/2026: significant growth amounting to approximately 20 percent to around EUR 591 million compared to previous year
• EBIT margin increases to 7.0 percent and is significantly up compared to previous year
• Guidance 2026 confirmed

Munich, May 7, 2026 – The results of the first quarter of 2026 reflect already since the end of 2025 noticeably improving order dynamic. After the previous year was still influenced by weak demand, especially the region Europe showed significant recovery in the second half of 2025. This positive trend continued even stronger at the beginning of the fiscal year 2026, whereas especially the business segment compact equipment recorded a significant upward dynamic. With these developments, the Wacker Neuson Group successfully started into 2026.

The group revenue increased significantly compared to previous year by 19.8 percent to EUR 591.4 million (Q1/2025: EUR 493.5 million). The operating income developed even more positively due to increased revenue and unchanged operating costs: the earnings before interest and taxes (EBIT) amounted to EUR 41.5 million (Q1/2025: EUR 12.1 million), corresponding to an EBIT margin of 7.0 percent (Q1/2025: 2.5 percent). This represents a significant increase of 4.5 percentage points compared to previous year.

„The noticeable recovery in our key European markets as well as increased demand for our compact equipment enable a solid start into 2026. Moreover, we succeeded to implement our planned efficiency measures and to increase our profitability once again. We look with confidence on the rest of the year and confirm our guidance for this fiscal year “, explains Dr. Karl Tragl, Chairman of the Executive Board of the Wacker Neuson Group.

Results for the first quarter of 2026 in detail:

• Key regions record significant increases: The revenue in Europe (EMEA) increased strongly by 26.7 percent to EUR 471.6 million (Q1/2025: EUR 372.1 million). The revenue in the Americas decreased by 2.3 percent nominally slightly amounting to EUR 108.0 million (Q1/2025: EUR 110.5 million), however, it increased by 7.6 percent adjusted for currency effects. Also the revenue in Asia-Pacific increased by 8.3 percent to EUR 11.8 million (Q1/2025: EUR 10.9 million). Whereas the business segment compact equipment recorded a strong growth of 40 percent, the business segment services declined slightly amounting to a 2.9 percent decrease. The business segment light equipment remained essentially at the previous year’s level with the revenue amounting to EUR 114.2 million (Q1/2025: EUR 114.7 million).
• EBIT significantly above the previous year: The EBIT margin increased by 4.5 percentage points compared to previous year to 7.0 percent (Q1/2025: 2.5 percent). This significantly positive development compared to previous year was largely driven by a better operating cost coverage, driven by strong growth. In absolute figures the EBIT amounted to EUR 41.5 million (Q1/2025: EUR 12.1 million).
• Net working capital slightly increased: In absolute figures the net working capital at March 31, 2026 amounted to EUR 710.3 million. Therefore, it was EUR 10.5 million up compared to the figure in previous quarter (Q1/2025: EUR 699.8 million) and higher than the figure at the year-end of 2025 (December 31, 2025: EUR 647.0 million). The net working capital ratio (on the  basis of the revenue of the last twelve months) was at 30.7 percent in the first quarter of 2026 and slightly above the strategic target value of 30.0 percent, however, significantly down compared to previous year (Q1/2025: 32.8 percent). Since the end of the fiscal year 2025 an increase of inventories to EUR 647.0 million (December 31, 2025: EUR 613.7 million) was recorded. At the same time trade receivables increased to EUR 328.6 million, which was primarily driven by the strong revenue growth in the first quarter. This increase of the assets was partly compensated through a simultaneous increase of trade payables to EUR 265.3 million.
• Free cash flow slightly negative: The cash flow from operating activities decreased by EUR 27 million compared to Q1/2025, from EUR 36.3 million to EUR 9.3 million. The investments amounted to EUR 11.7 million (Q1/2025: EUR 17.0 million), thereof EUR 6.2 million in property, plant and equipment and EUR 5.5 million in intangible assets (Q1/2025: EUR 7.7 million and EUR 9.3 million). The cash flow from investment activities amounted overall to EUR -11.9 million (Q1/2025: EUR -16.9 million). The free cash flow decreased therefore to EUR -2.6 million at the end of the first quarter of 2026 (Q1/2025: EUR 19.4 million) and was, especially due to changes in net working capital, down compared to previous year (EUR -58.1 million). Cash and cash equivalents at March 31, 2026 amounted to EUR 31.7 million (December 31, 2025: EUR 34.0 million).
• Net financial debt decreased significantly: at the end of the first quarter of 2026 the net financial debt was at EUR 195.8 million, significantly below the previous year and only slightly up compared to year-end 2025 (December 31,2025: EUR 185.4 million).

Good start into the fiscal year 2026 – guidance confirmed

The Wacker Neuson Group recorded a successful start into the fiscal year 2026. However, the global market environment remains volatile due to geopolitical tensions and economic uncertainty. After a two-year stagnation phase and correction the Executive Board stands by the outlook regarding a slight market upswing over the course of 2026. Essential drivers for the revitalization of the operating business are positive impulses from the European infrastructure as well as modernization programs as well as, despite the US tariffs, solid demand in North America. The Wacker Neuson Group therefore expects a moderate increase in revenue as well as an improvement in the EBIT margin compared to the fiscal year 2025. Taking into account the aforementioned macroeconomic and industry-specific conditions, as well as the opportunities and risks for the Wacker Neuson Group, the Executive Board expects revenue for the fiscal year 2026 to be between EUR 2,200 million and EUR 2,400 million. The EBIT margin is expected to be in a range of 6.5 to 7.5 percent. The Executive Board further expects to achieve a net working capital ratio of under 30 percent  and therefore to remain below the strategic target of below 30 percent. The Wacker Neuson Group will continue to invest in promising projects in the future and steadily develop its subsidiaries. For the 2026 fiscal year, investments in property, plant and equipment and intangible assets of around EUR 70 million to around EUR 90 million are planned.  

Key figures of the WackerNeusonGroup 

Earnings Call und Webcast

An earnings call and webcast for institutional investors and analysts is scheduled for May 7, 2026 at 1:00 p.m. CEST to present the Q1/2026 results, followed by a Q&A session.

Registration for the event is possible after contacting ir@wackerneuson.com.

A replay will be available later on the Wacker Neuson Group website.

Contact:

Wacker Neuson SE

Peer Schlinkmann

Investor Relations

Preussenstrasse 41

80809 Munich

Tel. +49-(0)89-35402-1823

ir@wackerneuson.com

www.wackerneusongroup.com

The complete Wacker Neuson Group Q1/2026 report is available at: wackerneusongroup.com/en/investor-relations

For press images relating to the Wacker Neuson Group, please see: wackerneusongroup.com/en/group/press-and-news About the Wacker Neuson Group:

The WackerNeusonGroup is an international network of companies, employing around 5,800 people worldwide. In the fiscal year 2025 the revenue was at approximately EUR 2.2 billion. As a leading manufacturer of light and compact equipment, the Group offers its customers a broad portfolio of products, a wide range of services and an efficient spare parts supply. WackerNeusonGroup is the partner of choice among professional users in construction, gardening, landscaping and agriculture, as well as among municipal bodies and companies in industries such as recycling and rail transport. The brands WackerNeuson, Kramer, Weidemann and Enar belong to the Group. Wacker Neuson SE shares are listed on the regulated Prime Standard segment of the Frankfurt Stock Exchange (ISIN: DE000WACK012, WKN: WACK01) and are member of the SDAX.