Palfinger Reports Increase in Third Quarter

Loader crane and aerial lift manufacturer Palfinger has reported an 8% increase in third quarter revenues.

Looking first at the nine month/year to date numbers, revenues increased four percent to €716.1 million, with European sales up just under four percent to €479.2 million, while sales in the rest of the world increased just over four percent to €236.9 million. Pre-tax profits for the period were €46.3 million 5.5 percent higher than last year. This driven by a 7.5 percent improvement in Europe, with an operating income of €62.3 million, and an almost 18 percent rise in the rest of the world to €7.3 million.

Moving on to the third quarter total revenues increased eight percent to €241 million with stronger sales of loader cranes in the UK, Denmark and Finland and a pick-up in Germany and slightly higher platform sales, helped by the ramping up of the new Italian joint venture. Sales of service cranes and access equipment in the USA and solid sales in Russia and Brazil also made strong contributions. Pre-tax profits for the quarter were €14.1 million, an increase of almost 17 percent.

Chief executive Herbert Ortner said: “Since the beginning of the economic crisis in 2008, the regions outside Europe have been gaining in importance. Without our international presence, we would not be able to record growth, rather the contrary. For the future, also, we see the greatest potential in the BRIC countries and the global Marine business area. We are already well-positioned in these markets and will continue to steadfastly pursue this policy.”

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