07.05.2014

Palfinger rises 18%

Palfinger has posted first quarter revenues, over 18 percent higher than last year at €267.6 million, pre-tax profit for the period improved almost nine percent to €16.95 million.

Most of the growth came from the European region, where revenues climbed over 25 percent to €191.5 million, while the rest of the world improved five percent to €76 million. Sales in Europe were led by strong performance from Germany, the UK, Belgium, Sweden, and Switzerland, Southern Europe also improved overall, with France, Austria and Norway declining.

In terms of profitability all of the growth came from Europe, with weather -related declines in North America and the impact of exchange rate shifts in Brazil and Russia. The company says that it expects that the rest of the world will soon make a positive contribution to earnings again.

Finally the company says that it expects to exceed €1 billion of revenues for the first time this year and sees the potential to take annual revenues to € 1.8 billion by 2017.

Vertikal Comment

Another strong performance from Palfinger, which should gather steam as Southern Europe begins to recover and investments in North America pay off.