Another revenue record for Palfinger
6 November 2017 by Sotiris KanarisAfter achieving record revenue in the first-half of the year, Palfinger recorded €1,093.1m of revenue in the first nine months of the year, setting a new record for the reporting period. Operating profitability rose 12.6% year-on-year to €147.6m.
In the first three quarters of 2017, revenue in Palfinger’s ‘Land’ segment increased by 5.5% year-on-year to €908.8m.
The segment’s normalized earnings before interest, taxes, depreciation and amortisation grew by 13.9% to €153.8m.
The manufacturer said the revenue growth was based on the expansion of business in the regions EMEA, CIS and Asia.
Palfinger said: “In Europe, economic recovery in the fields of construction and infrastructure continued to be noticeable, and the acquisition of the Danish distribution partner Palfinger Danmark AS generated positive momentum as well. The restructuring in North America brought substantial success.
“In South America, Palfinger continued to operate in a highly difficult market environment, but it appears that the downturn has bottomed out. In Asia, particularly in China, the partnership with Sany has proved to be the foundation for the sound development of business; the revenue generated by the joint venture increased considerably in the reporting period. In Russia/CIS, local value creation facilitated additional growth despite the challenging economic environment.”
In the first three quarters of 2017, the ‘Sea’ segment’s revenue increased to €184.3m, corresponding to a year-on-year increase of 36.1%.
