14.04.2008

Demag Cranes AG better than expected

Demag Cranes AG is considering raising its full-year guidance of earnings before interest and tax of 110 million euros, chief executive Harald Joos said.

The guidance is 'very conservative, at the lowest end of our possibilities', in an interview to be published today.

Joos also said the company is targeting acquisitions in emerging markets, which are expected to contribute up to 40 percent of sales, against its present level of about 20 percent.

He said the company will wait for final second-quarter results before a decision is made. He repeated previous statements the company is very satisfied with the second quarter.

Demag Cranes specialises in cranes and port technology and posted EBIT of €82 million for the year ended September 30, 2007.