14.11.2013

Skyjack continues upward trend

Skyjack, the Canadian aerial lift and telehandler manufacturer, has reported a strong third quarter.

While not fully disclosed the group is the largest element in Linamar’s Industrial division which has reported nine month year to date revenues of $447.9 million, 14.5 percent up on the same period last year. Operating income for the same period more than doubled to $46.8 million.

Looking at the third quarter, sales were up 25 percent to $127.6 million, due to, says the company, “increases in demand in the access equipment markets, and higher sales from emerging global markets such as Brazil.” Operating income meanwhile increased more than eight-fold from $800,000 last year to $7.5 million this year predominantly driven by market share growth and increased demand in the access equipment market, according to the company, as well as productivity and efficiency improvements driven by higher volumes on new products and cost savings initiatives on mature products.

Linamar as a whole saw its nine month revenues increase over eight percent to $2.7 billion, while net earnings increased 40 percent to $161.1 million.

Linamar chief executive Linda Hasenfratz said: “We are delighted to register another solid quarter of double digit sales and earnings growth along with solid free cash flow, both driving continued building of margins and returns. We saw a huge quarter in new business wins and continue to quote an unprecedented book of new business opportunities. The completion of our assembled camshaft division acquisition will support our future growth by adding another critical tool to our technology and innovation toolbox. The combination of these new business opportunities with the fantastic results for the quarter adds up to a great recipe for continued success.”

Vertikal Comment

Skyjack is rapidly becoming the main alternative to the big two – JLG and Genie – and is finally seeing sales of its boom lifts begin to gain some traction. The current difficulties faced by Snorkel, are also likely to help.

The future looks bright.