08.08.2012

New record for Palfinger

Palfinger has posted its first half results with revenues up 12.3 percent to €465.1 million a new record.

All of the growth in the first half came from markets outside of Europe, with a third due to the company’s loader crane acquisition in Russia. In non-Russian Europe - which still represents 68 percent of total sales, revenues slipped slightly to €316 million due to weaker sales in Italy and the rest of Southern Europe. Strongest contributors were the Americas and Russia.

Looking at revenues by product line Access and tail lifts are among the best performers, with the Access division said to have posted an “enormous increase and revenues and a significantly better profitability”. Loader crane sales were flat overall while logging crane sales and portable forklifts both declined.

Pre-tax profits for the six months were up just over three percent to €37.2 million

Chief executive Herbert Ortner said: “We have perceived an increasingly cautious mood in Europe, and the uncertainty of the markets has had a noticeable effect on demand. In the present situation we benefit in particular from our long-standing strategy of internationalisation. In the growth markets of Brazil, Russia and India, we have been well-positioned for quite some time now. In the first half of 2012, we achieved this milestone for China as well through the partnership with the Chinese Sany Group that is going to open this promising market for us.”