A record half year for Palfinger

Revenue for the first half of 2014 at Palfinger was a record €540 million (US$ 729 million), up nearly 14 % on the €475 million ($641 million) from the same period a year earlier.

The Austria-based manufacturer of loader cranes and aerial work platforms forecast its full year 2014 revenue to exceed €1 billion ($1.35 billion) for the first time. Most of the growth came from Europe, the company said, although since May the level has dropped back. Growth potential is still seen in the BRIC countries and the marine sector. Palfinger said it sees the potential to increase consolidated annual revenue to €1.8 billion ($2.4 billion) by 2017.

Earnings before interest, taxes and so on (EBITDA) of €58 million ($78 million) was also up in H1 2014, by 7.5 %, from €54 million ($73 million) in the first half of 2013.

“We are satisfied with Palfinger’s performance in the first half of 2014,” said Herbert Ortner, Palfinger CEO. “We continued to grow in Europe and managed to compensate the first-quarter slump caused by the harsh winter in North America. Our marine business activities developed as planned, increasing by approximately 10 %. Above all, the consolidation of our market position as compared to our competitors is a clear sign that we are headed in the right direction.”