Demag Cranes Q2 results

10 May 2012

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Results from Demag Cranes, now majority owned by Terex, showed it had continued to increase new orders and revenues in the second quarter of financial year 2011/2012, thanks in part to a productive port technology segment.

Group order intake was up 11.0% over the prior-year period. It had an order intake of €308.4m in the second quarter of financial year 2011/2012 over the second quarter of 2010/2011, when it was €277.9m.

The port technology segment was a large contributor to the growth in order intake growth of 6.6 % year on year, with order books valued at €598m in the first half.

The order book showed to €414.3m on 31 March 2012, an increase of 9.5% over the amount it showed on 31 March 2011 (€378.4m).

Group revenue was 0.8% higher than prior-year quarter.

Group operating EBIT grew 38.6% relative to prior-year figure.

The group’s operating EBIT grew of 26.6% on a half-year basis.

Demag said, “Reliable projections still made difficult by uncertain economic trend

The global economic trend remains subject to considerable risks, in particular as a result of the uncertainties surrounding the debt crisis in several European countries, most notably Greece, Italy, Ireland, Portugal and Spain.

“Future global economic growth will continue to be driven by emerging markets especially, although these, too, seem to have lost some of their economic resilience. The uncertainties outlined make it increasingly difficult to give reliable long-term projections for ongoing economic trends and the associated demand for the products of Demag Cranes.”

“Despite this unpredictability, the management board still anticipates group revenue of around €1.1bn for the current financial year continued improvement in the operating EBIT margin compared with the previous year.”