Palfinger posts record results

Truck crane and aerial platform manufacturer Palfinger reported its highest ever annual sales and second-best ever profits in 2004. Palfinger revenues rose 20.9 % to €404 million and profits before interest and tax were increased by 61.5 % to €41.5 million.

Palfinger said it has experienced very high order intakes in all product divisions after the first quarter of the year. The company has also increased production activities in Bulgaria. Cylinder production was moved to the country during the year and further production activities are to be moved to the Cherven Brijag location to “further optimise” production costs.

The results include a small contribution from Bison stematec, the German truck mounted aerial platform manufacturer acquired by Palfinger and incorporated into the company on 1 December last year. Bison Palfinger, as the access division is called, had sales of €13 million last year.