Crane division helps Palfinger raise profits
10 March 2006Loader crane manufacturer Palfinger experienced growth in all areas in the 2005 financial year, the company has reported.
“Good market development, revenue growth in all segments, and high capacity utilization of production facilities combined with outstanding standards in product development was decisive in achieving these good results,” said the company.
Cost increases in raw materials were mostly offset by productivity increases, according to Palfinger ceo Wolfgang Anzengruber.
Compared with the previous year, revenue increased by EUR 116.3m or 28.8% to EUR 520m. Earnings before interest and tax (EBIT) climbed by 56.2% to EUR 65.1m, translating into an EBIT margin of 12.5%.
Consolidated net profit of the year was also marked by a disproportionate increase of 75.8 % to EUR 48.1m, and earnings per share increased to EUR 5.48 (2004: EUR 3.11).
The cranes segment remained the driving force, the company revealed.
Palfinger said it anticipated continued positive development in all areas for 2006. The company added: “The international strategy entails development of the Asia and Pacific area, and intensification of further market expansion in North and South America.”
