Alimak announces post-IPO revenue increase

By Steve Ducker19 August 2015

Swedish access company Alimak has reported a 22% year-on-year revenue increase for the second quarter of 2015 to SEK 552 million (€58 million).

Rental revenue was up 14% at SEK 78 million (€8.3 million), and contributed SEK 152 million (€16 million), or 15% of total revenues, for the first six months of the year.

Strong demand was reported from the Australian market, with Central Europe said to be recovering. Alimak said that developing sales and profitability in the rental division would be part of its strategy for the rest of 2015.

The overall results, the first to be announced since the company floated on the Swedish stock exchange in June after a successful Initial Public Offering (IPO), included the SEK 155 million (€16.4 million) order from Statoil for its Johan Sverdup North Sea oil field project west of Stavanger in Norway. This is the largest order that Alimak has ever received.

The company reported stable development in mature markets such as the USA, Australia and Europe, with signs of progress in Southern Europe.

It also said that there were positive developments in South East Asia and the Middle East, though China and Latin America continued to be challenging.

In terms of industry sectors, upstream oil and gas remained slow.

For the half-year to 30 June, revenue was SEK 1.014 billion (€107 million), compared to SEK 797 million (€84 million) last year.

Alimak has more than 20 sales offices and 60 distributors worldwide, and employs 1100 people. Its revenues in 2014 were just under SEK 1.8 billion (€190 million).

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