Austrian loader crane supplier Palfinger has reported a revenue rise of 32% in the first half of 2005. Compared with the same six month period in 2004, Palfinger increased its revenue by €63.3m to €253.9m. Earning before interest and tax (EBIT) rose by 118% to €37.4m.
Consolidated net profit was more than doubled to €27.7m.
The company said: “The high level of capacity utilization, the positive performance of the market, good progress in all business areas and the high standard in product development were mainly responsible for the best result in history.”
CEO Wolfgang Anzengruber, added: „Thanks to these four reasons Palfinger will continue to achieve record results also for the full year.”
Cranes remain the company’s core business, although Epsilon, the forestry cranes division, posted record results, while, as expected, Bison (the work platforms division) dragged down the results due to relocation and integration costs to the Eastern European production site. Guima (hook loaders) did not fare as well as expected, although it did generate positive EBIT in the second quarter.
Palfinger expects record results in terms of revenue and EBIT for the full year.
