Company results for the third quarter of Demag Cranes AGs financial year show a 14.1% increase in its order intake, leaving the firm’s order book up €53.6m at €394.5m compared to the same period last year.

Operating earnings before interest and taxes were up 86.5% to €18.7m compared to €10m in the same period last year. In the first three quarters, earnings before interest and tax were up 54% year on year, from €29.7m in 2010 to €45.8m.

Q3 revenues for the group stood at €260.3m, up 26.9% from €205.1m for Q3 in 2010, and up 16.4% on the first three quarters of last year to €746.1m.

The company said, “That Demag Cranes should prove an attractive takeover target comes as no surprise. We held our growth trajectory from preceding quarters through the third quarter of financial year 2010/2011. Our key reporting indicators are well up compared with the equivalent figures a year earlier. Group order intake has climbed by 14.1 per cent, group revenue by 26.9 per cent and group operating EBIT by no less than 86.5 per cent.”

“We have also made further key progress with our emerging markets growth strategy. As announced, we have launched our first product for the high-growth mid segment: the DC-Bas chain hoist, initially introduced in China and India.”

It added: “In the months ahead, we will introduce more products with a similar focus in the two biggest Asian economies. In a second step, we plan product launches in markets such as Southeast Asia and Brazil.”

Despite referencing the difficulty of providing accurate projections due to economic uncertainty in Demag Cranes’ key US and EU markets, the group expects a ‘sharp jump’ in revenues to €1.7bn by 2014/2015 on the back of the introduction of new product lines aimed at emerging markets.

For this financial year Demag Cranes expects to achieve group revenues of €1.06m, up on the €1.02 to €1.05 previously expected, with the margin for operating earnings before interest and taxes (EBIT) at 6.4%.

The firm is also targeting €1.3m in revenues by the 2012/2013 financial year, with an operating EBIT margin of over 10%.