18.02.2014

Palfinger achieves new records

Palfinger achieved revenues of €980 million in 2013 up five percent on 2012, while profits improved 12 percent.

Austrian based loader crane and access company Palfinger has released its 2013 full year results, showing revenues hitting €980 million, 4.9 percent up on 2012 and a new record for the company. Pre-tax profits improved 12 percent to €61.1 million, also a new record. Net debt remained at 2012 levels of €217.9 million.

Europe, which still represents most of the group’s revenue, while generating virtually all of its profits, improved marginally but greater growth was recorded in North America, the CIS countries, China and the Pacific Rim. The acquisition of Palfinger Dreggen in 2012 also helped boost the Marine business division.

The company expects a double-digit increase in revenue during 2014 which will easily take it over the €1 billion threshold for the first time. Palfinger has yet to publish its annual report, so we may update this coverage once it goes online.

Chief executive Herbert Ortner said: “In recent years, Palfinger has persistently pursued its internationalisation strategy, which it has built on the cornerstones of its numerous initiatives, acquisitions and of course the partnership with Sany entered into in 2012. In 2013, this strategy enabled us to record significant growth in the regions outside Europe and in the Marine business area and also made it possible to compensate the declining business in Europe.”

Vertikal Comment

A very good result from Palfinger which looks set now to soar, once the European economy begins to grow again, while sales - and most importantly profits - ought to show strong gains elsewhere as the company’s efforts and investments begin to gain some real traction and start to pay off.

The future looks bright