Palfinger keeps breaking records
2 May 2019The Palfinger Group’s revenue stood at €440.9m in the first quarter of 2019, 11.8% higher than the same period of the previous year.
Earnings before interest and taxes (EBIT) showed a significant year-on-year increase of 27.3%. In terms of both revenue and earnings, Palfinger achieved record levels for quarterly figures.
The revenue of the Sales & Service Land segment, which contains the sales and service units related to the land-based product lines, rose from €312.4m in Q1 2018 to €360.5m in the same period in 2019. Palfinger said the Crane, Timber/Recycling and Hooklift product lines were the main contributors to the increase in the segment’s revenue.
“Our orders on hand are still high and incoming orders remained strong in the first quarter. Even in the marine business, the recovery of the oil and gas industry has been reflected in our order book. With our new organizational structure, we are now able to be faster and more focused in our actions,” said Andreas Klauser, CEO of Palfinger.
In October 2018, it had been agreed that Sany would buy back 2.5% of the shares in Sany Lifting Solutions most recently held by Palfinger. The transaction was completed in the first quarter of 2019, leading to an inflow of €28.6m.
