08.05.2015

The rise of Skyjack continues

Canadian aerial lift manufacturer Skyjack has posted another record quarter, with sales for Linamar’s Industrial Divison - of which Skyjack is by far the main ingredient - up 19.5 percent to $215 million. This thanks to higher sales of both booms and scissor lifts in North America, Asia and Europe, along with favourable exchange rates. Operating income in the same period increased almost 54 percent to $46.6 million.

The company achieved higher margins thanks to the higher volumes, exchange rates and increased productivity and efficiency improvements, partially offset by higher management and sales costs.

Linamar as a whole reported revenues up 22.5 percent to $1.28 billion, while net earnings jumped 42.7 percent to $113.7 million.

Linamar chief executive Linda Hasenfratz said: “We have completed another outstanding quarter at Linamar with solid market share gains driving record levels of sales and earnings. Financially we again saw double digit sales and earnings growth in line with goals and have once more improved our margin performance. Strategically, we completed our second forging acquisition which is performing very well and continue to flawlessly execute on our substantial launch book.. We have an exceptional team at Linamar which is performing at optimum levels, with an excellent outlook for continued growth over the next several years.”

Vertikal Comment

Another sterling result from Skyjack as it continues to gain market share for its Boom lifts, consolidates its leading share of the scissor lift market in some regions and expands its geographic coverage.

With the company’s products now covering around 80 percent, or more of the total self-propelled market and with plenty of room to expand its market coverage Skyjack appears to have a very bright few years ahead of it, as it chases the two market leaders.