21.04.2017

Record year for Ruthmann

German truck mounted lift manufacturer Ruthmann has reported record revenues for 2016 and a strong start to the new year.

The group - which now includes Italian spider and truck mounted lift manufacturer Marti group (Bluelift/RAM) - now Ruthmann Italia- achieved revenues of almost €143 million, almost 25 percent up on 2015. While a good slice of the increase can be attributed to the Marti acquisition, the company says that all divisions achieved revenue gains, but the driving force was Ruthmann truck mounted lifts, the Versalift distribution business and is growing service operation.

2017 has apparently started well, with solid order intake indicating further growth potential this year. Managing director Rolf Kulawik said: Ruthmann has improved its rising sales once again through optimised production processes. For 2017 capacities are to be expanded so that we can offer our customers acceptable delivery times again. We would like to thank all of our customers for their trust in us.”
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The Ruthmann management team, (L-R) Uwe Strotmann, Rolf Kulawik, Uwe Stapper and Nico Krekeler

Sales manager Uwe Strotmann added: “In 2016 we continued working on implementing our multi-million investment programme in service. Our customers are using our services more than ever thanks to our highly qualified employees, local branches and professional workshop equipment. Service revenues were €16 million in 2016, €1.5 million higher than in 2015. Reason enough to continue the service expansion this year.”

Vertikal Comment

Ruthmann has done well under the current management team, its highly competitive approach has certainly paid off in terms of revenues. The company is privately held so do not yet have any details on profitability. Revenues have grown over two and half fold since 2010, and could well have tripled by the time the company reaches the end of 2018?

Much of the change has come from the push for exports, and a more aggressive sales approach, moving from a very domestically orientated company to one that now has a half decent international distribution network. But other departments have also contributed substantially to the success, the new products are beautifully engineered, and very well built and more recently its substantial investment in its own service outlets in Germany and Austria has paid off, generating more custom, while and the acquisition of Marti looks like a very good fit.

It has though also benefited from some dissaray among some of its main competitors, and has exploited these weaknesses well. However it cannot count on that continuing indefinitely and it may well experience some push back from them going forward? All in all another positive set of numbers.