All Financial results Articles
RSC Equipment Rental said it expected its rental revenues to fall by 20% in the first quarter of 2009 as the non-residential construction market continued to deteriorate. The company is responding by focusing more on the industrial sector, which it said was less severely affected.
Perini reported record revenues of US$ 5.6 billion for 2008, up +22% on the US$ 4.6 billion for 2007.
Fluor saw a +33% increase in sales for 2008, up from US$ 16.7 billion in 2007 to a record US$ 22.3 billion last year. Pre-tax profits jumped +71% from US$ 649 million in 2007 to US$ 1.1 billion.
Barratt Developments, one of the UK’s largest housebuilders, reported pre-tax losses for the half year to 31 December 2008 of -£ 592 million (€ 667 million), down on the £ 194 million (€ 219 million) pre-tax profit for the same period in 2007.
Astec Industries had sales of US$ 974 million last year, a +12.0% increase on 2007. However, its sales fell -11.5% in the fourth quarter of the year compared to the same period in 2007, reducing its growth for the year.
Hertz Equipment Rental Co (HERC) revenues fell by 20.8% to US$370.7 million in the final quarter of 2008 (a 16.7% fall in constant currency) and pre-tax profits of US$46.0 million were 55% lower than the same quarter in 2007.
At its annual conference System Lift AG, the German rental organisation, announced a 23% rise in turnover to €190 million in 2008. Sales resulting from leasing out work platforms accounted for €102 million of the turnover, an increase of 24 % in comparison with 2007.
Saint-Gobain saw sales increase +1% to €43,8 billion in 2008, up from € 43,4 billion in 2007, however, operating profits fell by -11% to € 3,6 billion, down from the € 4,1 billion reported in 2007.
Lafarge reported 2008 sales of € 19 billion, up +8% on the € 17,6 billion reported in 2007. Operating profit for the year also increased by +9% from € 3,2 billion in 2007 to € 3,5 billion last year.
Sweden’s NCC Group recorded sales of SEK 57.4 billion (€ 5 billion) in 2008, down -1,5% on the SEK 58,4 billion (€ 5,2 billion) reported for 2007.
Russian construction group LSR reported preliminary sales of RUB 48,5 billion (€ 1 billion) for 2008, up +36% on the RUB 35,8 billion (€ 780 million) recorded in 2007.
International Construction editor Chris Sleight looks at financial performance in the construction equipment sector last year.
Haulotte's initial end of year results show a dramatic drop in sales compared to 2007 but revenue from outside Europe has grown, as has that from service.
Terex Cranes saw net sales rise 10% in the fourth quarter of 2008, amounting to US$729.4 million, compared to the same period in 2007. The growth was in stark contrast to the group's overall fortunes in the 2008 financial year
Sweden's Peab had a +8% increase in sales from SEK 32 billion (€ 2,9 billion) in 2007 to SEK 39 billion (€ 3,6 billion) last year.
Heavy lift and haulage specialist Tiong Woon Corporation Holding (TWC), based in Singapore, has achieved record profits in the first six months of its current financial year. Net profit after tax and minority interest totalled S$23.1 million (US$15.3 million) for the half year to 31 December 2008
Terex booked a US$ 460 million impairment charge in the fourth quarter of last year, giving it an operating loss of -US$ 392 million for the three months. It also says it is in danger of breaching its banking covenants, raising the risk of bankruptcy.
Terex AWP sales fell by 45% in the final quarter of 2008 with Europe the worst performer, down 60% compared to Q4, 2007.
Cramo managed to maintain its revenues in the last quarter of 2008 despite weakening demand, with sales in local currencies actually rising by 6.7% in the quarter. Sales for the year as a whole rose 16.8% to €579.8 million, although Cramo said the outlook was weakening and it did not expect to reach the same sales level in 2009.
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