The 5050 Palfinger Group recorded revenue up by 14.1% to €606.2 million in the first six months of 2015, a new half-year record.
Palfinger, a maker of loader cranes, marine cranes, wind cranes and container handling systems, noted that earnings grew more strongly than revenue. Earnings before interest and taxes rose by 29.6% to €53.7 million. The consolidated net result for the first half of 2015 was €34.6 million, 40.6% higher than the previous year's level.
"We have been increasingly successful on international markets such as North America, Russia and China, and at the same time have expanded our strong position in Europe, not least due to our innovative products and services,” said Herbert Ortner, chief executive of the group.
"We expect a continuation of this growth in the second half of 2015 and believe that we are on the right track for achieving revenue of €1.8 billion in 2017."
The group’s loader crane business in Europe recorded “a distinct rise in sales and revenue”. Growth, “in some cases considerable”, was achieved primarily in Denmark, Sweden, the UK, the Netherlands, Czech Republic and Austria, as well as in Africa and Australia.
In contrast, revenue declined in Germany, Belgium and France, and in connection with exports to Russia. Heavy growth, albeit from an extremely low level, was recorded in the southern European countries, the report noted.
In North America, revenue increased by 40%. Around a third of the increase was from organic growth and the rest due to the appreciation of the US dollar. Products such as loader cranes, tail lifts and access platforms, “generated significant increases in revenue”. The group said that given that incoming orders have remained at a high level, this positive trend is expected to continue.
Palfinger, a maker of loader cranes, marine cranes, wind cranes and container handling systems, noted that earnings grew more strongly than revenue. Earnings before interest and taxes rose by 29.6% to €53.7 million. The consolidated net result for the first half of 2015 was €34.6 million, 40.6% higher than the previous year's level.
"We have been increasingly successful on international markets such as North America, Russia and China, and at the same time have expanded our strong position in Europe, not least due to our innovative products and services,” said Herbert Ortner, chief executive of the group.
"We expect a continuation of this growth in the second half of 2015 and believe that we are on the right track for achieving revenue of €1.8 billion in 2017."
The group’s loader crane business in Europe recorded “a distinct rise in sales and revenue”. Growth, “in some cases considerable”, was achieved primarily in Denmark, Sweden, the UK, the Netherlands, Czech Republic and Austria, as well as in Africa and Australia.
In contrast, revenue declined in Germany, Belgium and France, and in connection with exports to Russia. Heavy growth, albeit from an extremely low level, was recorded in the southern European countries, the report noted.
In North America, revenue increased by 40%. Around a third of the increase was from organic growth and the rest due to the appreciation of the US dollar. Products such as loader cranes, tail lifts and access platforms, “generated significant increases in revenue”. The group said that given that incoming orders have remained at a high level, this positive trend is expected to continue.
