22.07.2025

Profit boost for Alimak

Swedish international hoist and mastclimber group Alimak has reported a flat first half in terms of revenues, but with higher order intake and significantly higher pre-tax profit.

Group First Half
Total revenues for the six months to the end of June were SK3.5 billion (€314.2 million) down half a percent on the same period last year. Order intake however, came in 5.9 percent higher at SK3.72 billion (€332.1 million)
Pre-tax profits jumped 36 percent to SK495 million (€44.1 million) compared with last year, thanks to lower cost of sales and lower operating expenses. Finally Net debt was reduced by 17 percent to SK2.65 billion (€236 million).

The group revenues are made up as follows.

Construction:
Revenues: SK820 million (€73.1 million) +2.8%
Order intake: SK817 million(€72.8 million) –(12.9%)
Operating profit: SK134 million (€11.9 million) +22.7%

Façade Access:
Revenues: SK982 million (€87.6 million) +0.1%
Order intake: SK948 million (€84.5 million) +20.4%
Operating profit: SK102 million(€9.1 million) +6.8%

Industrial:
Revenues: SK754 million (€67.2 million) +0.8%
Order intake: SK913 million (€81.4 million) +18.6%
Operating profit: SK195 million (€17.4 million) +3.7%

Wind:
Revenues: SK331 million (€29.9 million) –(4.6%)
Order intake: SK375 million (€33.4 million) –(0.4%)
Operating profit: SK66 million (€5.9 million) –(4.1%)

Height Safety Solutions:
Revenues: SK671 million (€59.8 million) –(5.3%)
Order intake: SK698 million (€62.2 million) +1.3%
Operating profit: SK125 million (€11.1 million) –(4.1%)

Second quarter result
Revenues came in slightly above last year’s levels at SK1.79 billion (€159.7 million) up 1.2 percent, while order intake was flat at SK1.72 billion (€153.5 million). Pre-tax profit however improved five percent to SK247 million (€22 million) +33%.

Chief executive Ole Kristian Jødahl said: “We continued to build on the strong start to the year with a solid performance in the second quarter, in spite of a quarter marked by tariffs and geopolitical instability.”

“The Façade Access division continued to face a soft building maintenance unit (BMU) market but reported a strong order intake supported by our focus on infrastructure projects, Integrated Design Services as well as refurbishment, retrofit, and replacement orders. The Industrial division also reported strong order intake, driven by equipment orders in multiple segments.”

“The Construction division reported a low order intake, reflecting demand volatility between quarters and across regions. The weak construction market also affected the HSPS division’s order intake. In the Wind division, order intake decreased, primarily in the US, due to uncertainty related to tariffs. However, we remain confident about the long term global fundamentals of the division.”

“Façade Access changes: The market for BMUs remains soft and to secure the proper margin uplift for the division, we see the need to adjust the division’s fixed costs. This primarily includes a planned capacity reduction in Spain. The estimated total restructuring cost is SK60 million, with expected annual savings of SK30 million starting in 2026. The one-off costs will be recognised in the second half of 2025.”

“On July 8th we signed an agreement to acquire the permanent industrial elevator business of Century Elevators from BrandSafway in the USA, with an annual revenues of $9.7 million. This great team and business will become part of our Industrial division and closing is expected by end of July.”

“Philippe Gastineau our executive vice president of the Façade Access division, has decided to leave the group and Hervé Ros, currently head of Façade Access in North America, will take over his role. I want to thank Philippe for his instrumental contribution to the successful integration of Tractel into the group, and I am very happy to promote a great internal talent.”

“While the global market environment remains uncertain, we are continuing our profitable growth journey and have again demonstrated the resilience and effectiveness of our New Heights strategy with organic growth and a significant margin uplift. As a team we are committed to continuing this journey and we will give more details on our future plans in a Capital Market Day planned on 25 November. Thank you to all our employees, customers, and partners for your continued trust and contribution.”

Vertikal Comment

These results while mixed are really quite positive, with the company seeming to manage the challenging job of boosting margins without losing sales or order intake.
The company has had several years of transformation and appears to be making a real go of it.

All in all, a very decent set of numbers and solid progress.