07.08.2014

Progress gathers pace at Skyjack

Skyjack parent Linamar has published its second quarter results, indicating solid growth in its aerial lift business.

Skyjack is the principle constituent of Linamar’s Industrial Division which reported first half revenues of $400.7 million, an increase of over 25 percent. Operating profit for the period leapt 74 percent to $68.3 million.

Looking at the second quarter revenues climbed over 20 percent to $220.4 million, thanks to ongoing growth in North America and Europe, while operating profits jumped 52 percent to $38 million due to higher sales overall and of higher margin mature products.

Linamar as a whole reported first half revenues of $2.15 billion an increase of over 21 percent, while pre-tax profits increased almost 55 percent to $224.8 million.

Linamar chief executive Linda Hasenfratz said: “We are thrilled to report another outstanding quarter of record results. We continue to deliver double digit growth top and bottom line and delivered another solid performance in margins in all areas driving excellent return on equity for our shareholders. Our strong results are driving continued cash generation even as we invest in our substantial book of business launching, meaning we have a strong balance sheet with maximum flexibility. We are on track for another great year at Linamar and feel very positive about continued strong performance in the future.”

Vertikal Comment

This looks like another first class quarter from Skyjack which looks to be really gathering momentum, firmly cementing its position among the top three manufacturers of self-propelled aerial work platforms. With a further expansion to its boom lift range due in 2015 and with plenty of geographic expansion left to get its teeth into, the company is well placed to benefit from the current business cycle as it gradually gathers pace.

The future looks bright