21.07.2026

Slower first half for Alimak

Swedish international hoist, mastclimber and work at height group Alimak has reported a minor dip in first half revenues and order intake, but brighter signs in the second quarter and significantly higher pre-tax profit.

Group First Half
Total revenues for the six months to the end of June were SK3.41 billion (€308.7 million) down 3.1 percent on the same period last year. Order intake fell 5.3 percent to SK3.53 billion (€319.6 million).

Pre-tax profits, however, slumped 15 percent to SK437 million (€39.6 million) due to lower volumes and higher operating expenses, partly offset by lower finance costs. Finally, net debt was cut by almost three percent to SK2.55 billion (€213.7 million).

The group revenues are made up as follows:

Construction:
Revenues: SK679 million (€61.5 million) -17.2%
Order intake: SK758 million (€68.6 million) –7.2%
Operating profit: SK67 million (€6.1 million) +49.9%

Façade Access:
Revenues: SK917 million (€83 million) -6.6%
Order intake: SK863 million (€78.1 million) -8.9%
Operating profit: SK115 million (€10.4 million) +12.8%

Industrial:
Revenues: SK789 million (€71.4 million) +4.7%
Order intake: SK844 million (€76.4 million) -7.6%
Operating profit: SK189 million (€17.1 million) -2.7%

Wind:
Revenues: SK399 million (€36.1 million) +20.6%)
Order intake: SK429 million (€38.8 million) +14.3%)
Operating profit: SK86 million (€7.8 million) +30.2%)

Height Safety Solutions:
Revenues: SK655 million (€59.3 million) –2.3%
Order intake: SK660 million (€59.8 million) -5.4%
Operating profit: SK121 million (€10.9 million) –3.5%

Second quarter result
Revenues came in slightly lower than last year’s level at SK1.76 billion (€159.4 million) down 1.6 percent, while order intake was 1.2 percent higher at SK1.74 billion (€157.5 million). Pre-tax profit slipped 4.9 percent to SK235 million (€21.3 million).

Chief executive Ole Kristian Jødahl said:“The second quarter was characterised by a stable performance and solid execution across most parts of the Group. Four out of five divisions performed well, cash flow strengthened significantly and profitability improved compared with the two preceding quarters. At the same time, the Construction division continued to be impacted by adverse market conditions and delivered a disappointing result in the quarter.”

"The war in the Middle East has created uncertainty and contributed to delays in certain parts of our business, particularly in the Facade Access division. We have, however, not seen any cancellations. In July, we signed an agreement to acquire Pro-Bel, a highly profitable North American provider of suspended access and fall protection solutions. The acquisition strengthens Facade Access, broadens our offering and increases our exposure to low and mid-rise building sectors. The acquisition of Fuji Lifts in Australia strengthens our traction elevator offering, an important part of our growth strategy."

Vertikal Comment

This is not a bad set of numbers from Alimak, which is undergoing a steady transformation, diluting the more cyclical elements of its business through fairly substantial acquisitions that are still related to working at height, but are less affected by construction’s peaks and troughs.

It has also been stepping up its after sales activities across all of its divisions in order to be less reliant on new equipment sales for construction related activities, more recently with bolts ons for its new divisions.

It is also bringing down its net debt and adding smaller ‘bolt on’ acquisitions to its acquired businesses.
It seems to have managed the integration of its acquired companies well, and while these numbers are somewhat subdued, the underlying trend remains positive.