Record revenue at Palfinger

By Alex Dahm11 November 2013

Palfinger Sany Mobile Cranes has opened an office in Istanbul, Turkey

Palfinger Sany Mobile Cranes has opened an office in Istanbul, Turkey

Revenue for the first three quarters of 2013 at Palfinger reached a new record high of €716 million (US$ 967 million). It was up 4 % on the €688 million ($929 million) for the Austria-based loader crane manufacturer’s first three quarters of 2012. Growth largely came from outside Europe and in the company’s Marine business area. Earnings before interest and taxes (EBIT) was €56 million (76 million), up nearly 8 % on the €52 million ($70 million) of the same nine month period in 2012.

Increased demand was reported in North and South America and Russia. The joint-venture crane company Sany Palfinger in China and the sales joint venture for Europe and CIS, Palfinger Sany, both showed “satisfactory sales success, the company said. At the end of September Palfinger and Sany announced further expansion of their partnership by acquiring a 10 % economic interest in each other’s company.

Looking ahead, the company said it will continue to pursue its long-term strategy where, “The next steps towards growth will most likely be taken primarily in Brazil and Russia and also in the Marine business area.” For the full year 2013 Palfinger forecasts a moderate increase in revenue, coming primarily from the areas outside Europe and the Marine business area. It estimates that these areas will make even more substantial contributions to earnings.

The manufacturer said it sees the potential to double consolidated annual revenue to around €1.8 billion ($2.4 billion) by 2017. Key to this, it said, will be boosting the introduction of the entire product portfolio in the BRIC markets, and both organic and inorganic growth.

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