Double digit rise for Palfinger in first three quarters

For the first three quarters of 2014 Palfinger has reported an 11% increase in sales over the same period in 2013. The new record sales figure for Austria-based loader crane, aerial work platform and materials handling equipment manufacturer was Euro 795 million for the nine month period.

“We are satisfied with the development of revenue”, commented Herbert Ortner, Palfinger Group CEO, “but in the third quarter the decrease in economic power in some regions was already reflected in our earnings. Nevertheless, in spite of all turbulences, we will continue with our long-term growth strategy, focusing on the regions of Russia, China and North America, as well as on the marine sector.”

Most of the growth came from Europe, unlike in earlier recent quarters, but the current order volume “suggests a slowdown in growth over the course of the rest of the financial year, particularly in Europe in the Loader Cranes business unit,” the company said.

In outlook Palfinger forecasts “a substantial increase in revenue in the current financial year, in which case revenue would exceed the 1 billion euro threshold for the first time in the company’s history.”