The first three months of 2005 proved to be the best quarter in the history of the company, Palfinger has reported.
The Austrian loader crane producer saw its sales revenue rise 41% on the first quarter of 2004, reaching €121.7m. Pre-tax profit was €17.1m, up from €5.5m for the same period last year and EBITDA was up from €8.8m to €19.7m.
While 2004 numbers were affected by restructuring and the introduction of an Enterprise Resource Planning (ERP) system, in 2005 Palfinger is reaping the rewards. Market conditions had also improved, the company said.
“The strategic projects implemented in 2004, especially the relocation of cylinder production to Tenevo, Bulgaria, are positively reflected in the results,” the company said. “The integration of Bison, the relocation of Guima components to Bulgaria, and market development projects in North and South America and Asia progressed as planned, thus securing future growth.
With a strong order book, the company expects further increases in revenue and profits in the second quarter and double-digit growth for the full year.
