Western Europe slows Terex Cranes sales
20 February 2013
Net sales for Terex Cranes in the fourth quarter of 2012 were down by US$40.4 million, or 9.3%, to $394.9 million from sales in the same period in 2011. Reduced demand in Western Europe was partially offset by strong sales in North America, Australia and the Middle East, Terex said. Sales in the Middle East more than doubled from the same period of 2011, particularly in Turkey and Saudi Arabia, Terex continued.
Income from operations in the fourth quarter of 2012 was $45.7 million, or 11.6% of net sales, compared with income from operations of $14.0 million, or 3.2% of net sales, during the fourth quarter of 2011.
Order backlog decreased, primarily due to the segment’s focus on margins and from lower demand for all terrain cranes in most European markets, Terex said. Offsetting it was the demand in North America for rough terrain and truck cranes.
In the Terex Material Handling & Port Solutions (MHPS) segment, which includes port and industrial cranes, posted Q4 2012 net sales of $439.6 million, down by $80.3 million, or 15.4%, on the fourth quarter of 2011. Weaker sales of port equipment and lower volumes of standard material handling cranes and light crane systems were the primary causes of the decrease, Terex said. Order backlog at MHPS decreased mostly due to the poor European economic environment. It was partially offset by parts of orders from July 2012 now coming through for large automated port equipment.
