Record revenues for Palfinger

Palfinger’s revenues increased 10.6% to € 935 million (US$ 1.24 billion) in 2012, compared to € 846 million (US$ 1.13 billion) the previous year. The increase was driven by North American, South American and CIS regional sales, and by the company’s Marine segment in general. In Europe meanwhile, the company said it maintained the high revenues of previous years.

“Business development in Europe was marked by rising uncertainty and a decrease in enterprises’ preparedness to invest. We generated our growth in the Area Units segment, with a +42% increase in revenue and, for the first time, a clearly positive result. In the European Units segment, the strong performance of the globally operating Marine business area made it possible to maintain constant development, at least. The stability of the Group’s result, even though resources were stepped up outside Europe, was due to the measures taken to increase flexibility and cut costs,” said Herbert Ortner, CEO of Palfinger AG.

Earnings before interest and taxes for the 2012 financial year came to € 68.5 million (US$ 91.1 million), almost level with the 2011 figure of € 67.9 million (US$ 90.3 million).

Palfinger’s two joint ventures with the Chinese Sany Group proved to be an important event in the 2012 financial year, the company said. Operations started in the third quarter of 2012.

In September, Palfinger agreed to take over a 100% share in Tercek Usinagem de Precisão Ltda., headquartered in Caxias do Sul, Brazil – this strengthened Palfinger’s market presence in South America, the company said. At the end of October 2012, Palfinger acquired the Norwegian Bergen Group Dreggen AS (Dreggen), a manufacturer of marine and offshore cranes.

Under the current economic conditions, the management expects a moderate increase in revenues, coming primarily from the business areas outside Europe and the Marine business area in 2013.

The full Annual Report and the Annual Financial Report for 2012 will be published on 13 February 2013.