Skyjack increases market share
07 November 2014
The industrial segment of Linamar Group, largely made up of Skyjack, saw significant margin improvements in the third quarter of its 2014 financial year.
Sales increased 32% or $40.8 million to $168.4 million over the same quarter in 2013. Based on that, operating earnings were up 265.3% to $27.4 million.
The rise was thanks to increased demand in North America and Europe for access equipment. The manufacturer said it has also seen market share growth for scissors in Europe and booms in North America.
“We are very pleased to report another outstanding quarter of double digit top and bottom line growth and margin expansion,” said Linamar CEO Linda Hasenfratz.
“We have had an exceptional quarter on several fronts; financially of course, but also in terms of excellent new business wins to drive continued substantial growth over the next five years."
Group operating earnings for the third quarter were $109.8 million. This compares to $73.5 million in the same period in 2013, an increase of $36.3 million.
Operating earnings for the Powertrain/Driveline segment were higher by $16.4 million or 24.8% over the third quarter 2013.