Terex sales grow in H17 August 2018 by Sotiris Kanaris
Terex Cranes sales revenue stood at $649.3m in the first half of 2018, marking 14.4% year-on-year growth.
The company reported an operating loss of $22m, compared to $16.5m in the first half of 2017.
In the second quarter of 2018, Terex Cranes’ sales revenue was $335m, 10% higher than the same period in the previous year.
The manufacturer said sales were driven by higher demand, while constrained by global supply chain challenges. “The global cranes markets are generally stable with growth in certain areas,” said Terex.
Indications for the future are positive, with Terex Cranes Q2 ending backlog up 31% versus 2017 to $602m.
Steve Filipov, president Terex Cranes commented: “Our Tower Crane business continues to grow driven by higher demand in Europe, North America and Asia and our Utilities business continues to perform well in a relatively stable market environment.
“A critical element of our Cranes improvement plan is to successfully introduce new products. The three-axle Demag AC 55-3 all terrain crane is the latest addition to our portfolio. By reinvigorating our product portfolio, we are re-establishing ourselves as a leader in the all terrain segment.”