Sales at Palfinger in the first quarter of 2017 increased 13.5 per cent (%), to €361.9 million (US$ 396 million). Earnings before interest and taxes (EBITDA) was also up, by 18.7 %, to €50.9 million ($ 55.7 million).
The Austria-based crane, access, and materials handling equipment manufacturer attributed the growth largely to expansion in the EMEA and CIS regions. Positive contributors included acquiring its Spanish distribution company and establishing Palfinger Iberica in 2016, plus the acquisition of Danish distribution partner Palfinger Danmark.
Herbert Ortner, Palfinger CEO, said, “Thanks to our strategic positioning, we are continuing to grow. In the first three months, we already achieved our aim of a two-digit EBITn margin. Besides our focus on restructuring, priorities in 2017 include our initiatives regarding customer orientation, digitalisation and the further optimisation of processes.”
Palfinger forecasts an increase in revenue for 2017.