Wicknossen, the world's leading manufacturer of light and small equipment, announced a notable increase in sales revenue and profits in 2017: double-digit growth in sales and a significant increase in profitability. At the same time, Wicknossen said it will be more systematic to meet customer needs under the guidance of the Group's 2022 strategic roadmap.
At the regional market level, in order to further strengthen the position of the world's leading light and small equipment manufacturers, Wicknossen plans to strengthen its business in the core markets of Europe and North America.
Wicknossen chief executive Martin Lehner said that in Europe and the US markets, Wicknossen will release its core business areas of development potential, such as the light equipment sector compaction and concrete technology, as well as small equipment supply line products. To further expand the international market, Wicknossen has focused on growth-oriented markets such as the Chinese market.
In January 2018, Wicknossen Mini Excavators began a localized series of production at its new Pinghu plant, and Wicknossen said it was committed to developing a competitive light and small equipment portfolio for both China and Asia. "In the next few years, based on industry market share, on our core product line, we hope to be among the world's three largest supplier queues and achieve growth beyond market growth."
Martin Lehner added.
Wicknossen A 2022 sales revenue breakthrough of 2 billion euros, operating profit rate breakthrough 11% medium-term target. Wicknossen expects to achieve 16.5-1.7 billion euros in sales for the full year of 2018, with operating margins rising to 9% to 10%.