05.02.2016

New records for Palfinger

Austrian loader crane and aerial work platform manufacturer Palfinger has posted its results for 2015, showing a strong improvement in both revenues and profits, which have hit new records.

Total revenue for the years increased 15.7 percent to €1.23 billion thanks to solid increases in both Europe and the rest of the world, and for most product lines, led by the loader crane business, but also well supported by the aerial lift division. Pre-tax profits leapt 72 percent to €93 million.

The European business increased around 16 percent to €833.8 million, while operating profits increased over 43 percent to €107 million, while the group as a while posted and OI of €104 million- thanks to a small profit in the rest of the world being offset by a loss in Ventures division.

Revenues for the rest of the world improved by more than 15 percent to €396.1 million, driven by the USA where revenues increased 29 percent - a third due to organic growth and the rest due to the strong dollar exchange rate. The US result was partially supported by Russia and Asia/Pacific regions, while South America declined 35 percent. Operating profit improved 16 percent to €14 million.

Chief executive Herbert Ortner said: “ We achieved these record results in a difficult and volatile environment, which shows that the consistent implementation of our corporate strategy has borne fruit and put us in an excellent competitive position. We have adjusted our product range to the requirements of each market region, and we have become more flexible in production, which we are increasingly outsourcing to the market regions”.

"The Palfinger group again posted record revenue, €1.2 billion, and an extraordinary increase in earnings as well as the EBIT margin took another step towards our declared goal of reaching two digits. We are on the right track, from a market perspective as well as in terms of our own initiatives. Our focus on sustainability aspects throughout the entire value creation chain, from purchasing to the utilisation of our products”.

“In the 2015 financial year, we concentrated on the integration of the companies acquired in previous years, while at the same time promoting strategic priorities such as the expansion of local value creation, primarily in Russia and China. Even though the oil industry has shown signs of weakness, our marine business has been growing – in terms of large-scale orders as well as due to an acquisition that addresses new customer segments".

Vertikal Comment

Palfinger is going from strength to strength with Palfinger Platforms finally beginning to fit into the organisation better, driven by its new Jumbo NX models, soon to be extended into the 70 plus metres sector, and the rapid growth of Palfinger Platforms Italy.

The ventures in China and Russia are also beginning to look like they may last the current challenges and be ready to run when their economies pick up again .

All in all a very a very strong set of numbers