24.02.2011

Palfinger confirms results

Palfinger has confirmed its preliminary results for 2010 with revenue up 29 percent and a return to healthy profitability levels.

Full year revenues were €651.8 million with a pre-tax profit of €29.83 million compared to a loss in 2009 of €11.86 million.
Click here to see Palfinger up 29%
The company says that further diversification will only take place within its core competences and that it will direct its full and undivided attention to providing support to its existing sales and service partners.

It is also placing special emphasis on acquiring and expanding partners in markets such as India, CIS and Asia. While those business units with negative earnings, will have special measures prepared with the goal of achieving a turnaround within the next two years. This will include the establishment of a separate area management for Europe Africa and the Middle East region.

Palfinger says that it has become sufficiently flexible over the past two years to handle any economic scenarios that may arise. The measures initiated for increasing flexibility further will continue to be carried out in a targeted manner to further improve the position of the group.

Overall Palfinger says that it is optimistic for 2011 and anticipates organic revenue growth of approximately 20 percent should the economic environment not change.