wacker neuson en
TRANSCRIPT
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Never stop moving.In harmony with custom
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Wacker Neuson key financialsIn EUR million
20071 3 20062 20052
Sales 742.1 619.3 503.2
by region
Europe 520.7 391.1 301.1
Americas 196.1 205.0 182.7
Asia 25.3 23.2 19.4
by business segment
Light equipment 405.3 388.3 329.1
Compact equipment 178.2 87.5 45.8
Services 158.6 143.5 128.3
EBITDA 117.0 100.2 70.3
Consolidated Financial Statements 54.1 48.5 31.3
Number of employees 3,659 2,837 2,630
Shares
Earnings per share in EUR 1.10 1.19 0.77
Dividend in EUR 0.50 0.62 0.38
1 Wacker Construction Equipment AG figures plus Q4 figures from Neuson Kramer Baumaschinen AG2 Wacker Construction Equipment AG figures3 Figures include effects from price-purchase allocation
ers and employees.4 Foreword.
6 Our corporate culture.
8 Back to the roots.10 Zoning in on quality.
12 The right way to do business.
14 Protecting the environment.
16 Global footprint.
18 Our brand.
20 Our brands.
22 Our business segments.
24 Our products.
28 Our people.
32 Our sites.
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WACKER NEUSON IS A LEADING GLOBAL MANUFACTURER OF LIGHT AND COMPACT
EQUIPMENT WITH A PORTFOLIO OF UNPARALLELED DEPTH. OUR SPECIALIST KNOW-
HOW ENABLES US TO OPTIMIZE OUR CUSTOMERS OPERATIONS ACROSS THE ENTIRE
CONSTRUCTION PROCESS FLOW.
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We have strong brands and innovative products. And we con-
centrate on what we do best developing, producing and dis-
tributing high-performance light and compact equipment anddelivering professional services. This document introduces you
to our brands and illustrates the depth of our offering tailored to
the construction and agricultural industries.
We have been positioned as one of the leading manufac-
turers of light and compact equipment for several decades
now. Professional users the world over rely on our equipment
from over 300 product groups. They expect a lot the highest
standards of quality and safety, fast and reliable service as well
as state-of-the-art technology and compelling design. And that
is precisely what they get from us.
Martin LehnerDeputy CEO
Compact Equipment
Gnther BinderFinance and IT
Dr.-Ing. Georg SickCEO and President
Corporate communication,internal audit, legal matters,
human resources,quality management
Werner SchwindDistribution, marketing,service, rental, logistics
Richard MayerLight Equipment
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At over 30 affiliates and more than 180 branches across the
globe, our highly motivated staff is waiting to serve our custom-ers. Our people the world over are united in a common set of
values - values that inspire open and honest customer relation-
ships and a sustainable, big-picture approach to business.
But we are not content to sit back and rest on our laurels,
despite averaging sales growth of 20 percent over the years.
At Wacker Neuson, we never stop moving. The mid- to long-
term outlook for the construction and agricultural industries is
good. And this trend should enable us to continue the 160-yearsuccess story that is Wacker Neuson.
The rapid increase of our production capacity, combined with
the expansion of our rental business in Central and Eastern
Europe, the launch of compact equipment via our global sales
and service network and the ongoing enhancement of our
product portfolio, puts us on track for sustainable, profitable
growth.
We have achieved a lot over the years. And I believe with the
merger now behind us, we are in a stronger position than ever.
Lets not forget together we can move mountains.
Best regards,
Dr.-Ing. Georg SickCEO and President
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Built on a system of shared values, standards, attitudes, beliefs and
ideals, our corporate culture is defined by a sense of the common
good.
Our shared values and common outlook allow us to vest a high degree of
autonomy in our employees at local level. This type of autonomy thrives on
customer contact in particular. The resulting corporate culture is conducive
to flat hierarchies, fast, responsive service and the highest standards of
customer satisfaction.
Our management in particular lives and breathes our shared values, stand-
ards and ideals. This dynamic umbrella has enabled us to achieve a greatdeal in the past. Now, as a larger, listed company, we are keen to maintain
our values and use them as a springboard for our future success and cred-
ibility as a company.
Our corporate culture.
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GROWTH
Respect
Experience
Honesty
Responsiveness
Partnership
Trustworthiness
Responsibility
Reliability
Quality
Innovation
Teamwork
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IDENTIFYING AND TAPPING OPPORTUNITIES
We always expect honesty, teamwork, a sense of responsibility and cost
awareness from our employees. We encourage our people to identify and
seize opportunities for our customers and for the company. We expect
employees to think out of the box and like to reward independent thinkers.
We have a very flat hierarchical structure with few levels in between manage-
ment and employees. Individuals are always judged by the quality of their
work rather than their status or seniority. At our Reichertshofen facilities in
Germany, for instance, a special bonus system rewards productivity, punc-
tual deliveries and high product quality, whereby quality is measured in terms
of customer satisfaction. This plays a major role in improving quality andreinforcing staff commitment.
Teams are responsible for their own work schedules and time management.
Staffing levels are determined by order volume. The level of training received
by our employees means that they are up to speed on virtually all processes
in their area, thereby increasing flexibility. The number of hours worked in a
week fluctuates between 27 and 50 within a flexible work account of +200 to
-150 hours.
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INSPIRING QUALITY
Our customers value the high quality of our products and services.
Yet tests alone are no guarantee of quality. It is much more a question ofdevotion to detail and compliance with defined workflows.
Zoning in on quality.
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And company management plays a decisive role here. Are managers really
prepared to freeze the delivery of products with potential quality issues at
the expense of sales and earnings? The management of Wacker Neuson
certainly is and has pushed this quality awareness right through to employ-ees at production level.
This ethos is further backed by incentive schemes at many of our German
plants. Here, employees in production, procurement and development are
rewarded based on the number of reported warranty claims, thus ensuring
that quality is always center stage at Wacker Neuson.
LONG SERVICE LIFE
HIGH RELIABILITY
EASE OF REPAIR
EASE OF USE
LOW OPERATING COSTS
HIGH RESALE VALUE
Customer-driven product quality
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The way our employees behave, do business, and interact with stake-
holders has a significant impact on our corporate image. As a global
player, we are aware of our responsibilities at all of our sites across the
world.
We believe in fair competition and do not even enter into discussions with
our competitors about price fixing, non-competition, fixing of market shares
or pseudo tenders.
Bribery is not tolerated in any form at Wacker Neuson and is never an
acceptable way of gaining a business advantage. This not only applies
to cash payments but also to all other forms of benefits.
FOUNDATION OF RESPECT
Diversity, tolerance and equal opportunities are key values a t Wacker
Neuson. Teamwork, openness, trust and respect underpin all of our
dealings, both with each other and with our business partners.
We respect the dignity, privacy and personal rights of each individual. There
is no place for discrimination of any kind at Wacker Neuson. We believe in
equality, regardless of age, race, skin color, religion or sexuality.
The right way to do business.
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Environmental protection plays a crucial role at Wacker Neuson; right from
the very first step in product development. We choose environmentally
friendly materials wherever possible and factor end-of-life recycling into the
design of our machines and equipment.
Our equipment and machines comply with environmental guidelines to the
greatest possible extent. Closed loops and the separation and recycling of
industrial waste are a matter of course for us, as is the economical use of
production materials and other resources.
Our products are made to last even in harsh construction environments.
They are also designed to deliver full performance, right until the end of theirservice lives. This not only benefits the environment, but is also a real plus
for our customers.
Protecting
the environment.
Protecting the environmentand conserving natural
resources is a key priorityat Wacker Neuson.
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1
2
3Long service lifeand good recycling
capabilities
Conservation ofnatural resources
Compliance withenvironmental guidelines
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* April 30, 2008
Employees*
Patents and intellectualproperty rights
Product groups
Branch offices
Affiliates
Brands
Company
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WACKER NEUSON IS A LEADING GLOBAL MANUFACTURER OF HIGH-
QUALITY LIGHT AND COMPACT EQUIPMENT, DELIVERING OUTSTANDING
PRODUCT AND SERVICE QUALITY.
Our products are geared exclusively towards the needs of our customers. In
other words, professional users in construction, gardening, landscaping and
agriculture, as well as municipal bodies and companies in the industrial and
recycling sectors. With more than 180 sales and service stations, we have the
necessary consulting and support depth and reach to give our customers the
best possible service.
PRODUCTION
We manufacture the majority of our light equipment products at the
following sites:
Reichertshofen (Germany)
Milwaukee (US)
Manila (Philippines)
Each product from our 250 product groups is manufactured at just one loca-
tion or focus factory. For example, the entire range of rollers and rammers
is made in the US, while vibratory plates, concrete compaction equipment,
hammers and cutters are made in Reichertshofen. Our light vibratory plates
are manufactured in Manila.
Compact equipment is largely produced on demand. We develop and
manufacture the following machines at the following locations:
Track and mobile excavators, skid steer loaders and track dumpers in
Linz (Austria)
Dumpers in Tredegar (UK)
Kramer wheel loaders and telescopic machinery in Pfullendorf (Germany)
Weidemann products in Korbach and Gotha (Germany)
Global footprint.
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The Wacker Neuson Group timeline stretches back to 1848. Over the
last 160 years, the company has grown from a small blacksmiths shop
to a successful global corporation.
However, our 159th year marked the beginning of a new era for Wacker.
On May 15, 2007, the traditional, family-owned business became a publiclytraded company. The Groups shares are now traded on the Prime Stand-
ard segment of the Frankfurt Stock Exchange and listed on the Deutsche
Brse SDAX. Proceeds from the IPO bolster existing equity funds to create a
healthy springboard for further growth.
The 2005 acquisition of Weidemann GmbH, a leading European manufac-
turer of compact equipment for the agricultural industry, was soon followed
in 2006 by the acquisition of Ground Heaters, Inc., a leading North American
Our brand.
Evolving tradition.
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company involved in the manufacture of a new form of large-scale heating
equipment for the construction industry. In 2007, Wacker merged with the
Austrian company Neuson Kramer Baumaschinen AG, which had already
joined forces with Kramer-Werke GmbH in 2001. This merger created a
leading global supplier of light and compact equipment. Today, the Wacker
Neuson Group has over 300 product categories, more than 30 affiliates andin excess of 180 branch offices worldwide, placing it in a unique position on
the market.
Although the IPO and merger are two milestones that have helped propel the
company towards a successful future, our ability to maintain the right bal-
ance between traditional values and entrepreneurial spirit still remains the
real secret of our success.
Chairman of the SupervisoryBoard, Hans Neunteufel,and CEO and PresidentDr.-Ing. Georg Sick
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Wacker Neuson light equipment is characterized by high levels of reliability
and durability. The extensive product offering mainly comprises walk-behind
devices such as rammers, vibratory plates, rollers, hammers, cut-off saws
and floor saws. The business segment is divided into the concrete technol-
ogy, soil and asphalt compaction, demolition and utility business fields.
The Wacker Neuson compact equipment business segment comprises
mini excavators and dumpers as well as skid steer and telescopic han-
dlers. Wacker Neuson wheel loaders for the construction industry are also
equipped with articulated steering and are built on the Weidemann wheel
loader platform. This means that the Groups high-quality wheel and tel-
escopic loaders use two different steering systems - articulated or all-wheel.In fact, Wacker Neuson now has the broadest wheel loader portfolio world-
wide.
Outside Europe, all company products are solely distributed under the
Wacker Neuson brand.
LIGHT EQUIPMENT COMPACT EQUIPMENT
CONSTRUCTION, GARDENING AND LANDSCAPING,
MUNICIPAL, RECYCLING, INDUSTRIALAGRICULTURE
BRAND STRUCTURE
PREVIOUS
BRANDS
NEW
BRANDS
Produced for
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As a leading global manufacturer of light and compact equipment,
Wacker Neuson offers an unparalleled portfolio with products from
over 300 groups.
We protect our innovations with patents wherever possible and viable.
The Group currently holds over 420 intellectual property rights and patents
(excluding applications filed by foreign offices). In particular, we are looking
to synergize our compact equipment offering with our existing global sales
and service network and capitalize on growth opportunities in the construc-
tion and agricultural markets.
Our business segments.
Unparalleled product portfolio.
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LIGHT EQUIPMENT
Within our light equipment business segment, we offer our customers equip-
ment and machinery weighing up to around three tons. This mainly compris-
es walk-behind devices, although we also produce various remote-controlled
and ride-on versions. The portfolio here extends to over 250 product groups,
all characterized by their high quality and innovative design.
COMPACT EQUIPMENT
The compact equipment business segment covers the manufacture and
sale of compact machinery weighing up to approximately 14 tons. Alongside
wheel loaders, this includes excavators, skid steer loaders, telescopic han-
dlers and dumpers. The machines are ideally suited to the various processesin overground, underground and highway construction, municipal, indus-
trial and recycling projects and the gardening, landscaping and agricultural
sectors.
SERVICES (AFTER MARKET (REPAIR AND MAINTENANCE) AND RENTAL)
Spare parts sales, repair and maintenance are not only profitable business
fields, they also play a vital role in ensuring that Wacker Neuson products
deliver exceptional levels of reliability and productivity. The Central and East-
ern European rental market is one a rea that has strong potential for growth.
This is a profitable market for Wacker Neuson, although it will require high
up-front investment. The proven quality and brand value of Wacker Neuson
products ensures that ex-rental machinery and equipment still commands ahigh resale price.
We only operate our rental business in countries where we have a direct
sales model. This includes Germany, Austria, Switzerland, Poland and the
Czech Republic. Wacker Neuson does not rent light and compact equipment
in countries where we would come into direct conflict with our customers, as
we have no intention of competing with these companies.
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Our products:
Ride-on trowels
Walk-behind trowels
Rebar cutters
Internal vibrators
CONCRETE
TECHNOLOGY
Light Equipment
Rotary hammers 10 kg class
Cut-off saws
Breakers
Floor saws
DEMOLITION
Generators
Submersible pumps
Mobile heating equipment
Light towers
UTILITY
Vibratory rammers
Vibratory plates
Asphalt rollers
Trench rollers
SOIL AND ASPHALT
COMPACTION
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Compact Equip
Mini excavators
Midi excavators
Track excavators
Mobile excavators
MINI AND COMPACT
EXCAVATORS
Skid steer loaders
Skid steer loaders
Skid steer loaders
Track skid steer loaders
SKID STEER
LOADERS
Telescopic handlers 9 m lifting heig
Telescopic handlers 7m lifting heigh
Telescopic handlers 7m lifting heigh
Telescopic handlers for agriculture
TELESCOPIC HANDLERS
Wheel loaders (articulated steering)
Wheel loaders (all-wheel steering)
Telescopic wheel loaders
Wheel loaders for agriculture
WHEEL LOADERS
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SERVICES
ment
Parts repair
Parts exchange
Rental service
Maintenance
Finance
Track dumpers
Wheel dumpers
Wheel dumpers with power swivel
Wheel dumpers with cabins
DUMPERS
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Achieving the perfect balancebetween technology and service is
the only way to guaranteereal, lasting value.
Our high-quality products are designed for use under extreme conditions
on construction sites. Yet the underlying technologies are just part of the
picture. We also offer a wide range of services that ensure each product
is always at the ready and maintains its original value.
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The success of our relationships with customers in the construction, agri-
culture, retail and rental business is down to the caliber of our employees.
All our growth plans would come to nothing without the drive and compe-
tence of our workforce spurring the company on. A high level of expertise
among our employees is essential to secure a strong market position in the
long term.
We look for and promote a sense of personal responsibility in our staff,
encourage active participation in company processes and provide support
through a wide range of social activities.
Our people.
Our greatest asset.
Picture (right):Our highly motivated employees
at the opening of theproduction plant in Manila.
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Dr.-Ing. Georg SickCEO and President::
Our business model is built on our corporate
culture, the dedication of our staff and thebundled know-how of Wacker Neuson. Definingfactors include personal motivation, a sense ofindividual responsibility and the ability to placecustomers and their needs clearly and consistently
at the heart of everything we do.
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TRAINING THE KEY TO SUCCESS
Looking back on our successful past, two factors in particular have
paved the way forwards for our success: regular and open communi-
cation with our customers and the right balance between traditional
values and an entrepreneurial spirit. Basic and ongoing employee
training is particularly important in maintaining a strong position on the
international market.
Across the Group, we offer employees the opportunity to participate in
training sessions and seminars and provide financial support for those
undertaking further training alongside their jobs. In addition to establishingour own academy, we have also restructured our further training program.
Employees can now access transparent, bundled information about further
training via a database-enabled online platform. With fully equipped training
rooms, a large auditorium as well as large demonstration and presentation
halls, our training centers are ideally suited to holding courses, workshops
and conferences for employees and customers alike.
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Lead CompaniesEurope Munich (Headquarter)
Americas MilwaukeeAsia Manila/Hongkong
Affiliates
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Global reach.
Professional service.Customer proximity.Best-in-class results.
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Successful growth