Palfinger up 20%

By Alex Dahm11 November 2010

Revenue for the Palfinger Group in the first three quarters of 2010 was up 20%, at Euro 464.9 million (US$ 648 million), over the Euro 387.9 million ($540 million) of the same period in 2009.

Much of the increase was attributed to business from North and South America and other areas outside Europe. Having said that, in many European core markets the crane business has strengthened since the beginning of 2010. Business was described as still weak in Spain, Great Britain, Ireland, Greece, Portugal and Eastern Europe.

"After an extremely weak 2009, the past quarters were marked by a continuous positive market trend. In addition, the positive effects of the structural and process-related measures implemented in 2009 were felt. On this basis, we were able to seize market opportunities and to continue our strategic activities in a targeted manner in the past few months. The results have not yet reached pre-crisis record levels but we are, nevertheless, satisfied with the milestones reached," said Herbert Ortner, Palfinger CEO.

With its acquisition of NDM in July 2010 Palfinger entered the ship-mounted crane market. It has further expanded what was previously a truck-related product range with its most recent acquisition, of the marine division of Palfinger systems GmbH.

A continuation of the underlying slight upward trend is forecast for the fourth quarter. For the 2010 financial year, growth of more than 20% is forecast.

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