PALFINGER will next month announce a 5% rise in revenues for 2001. The Austrian loader crane manufacturer has published estimates showing earnings of E330.7m for the year.
Earnings before interest and tax are expected to show a 14.5% decline to E38.2m, however. The company attributes this to ‘heavy investment in new products and in property, plant and equipment, as well as a fall in capacity utilisation during the second half of the year’.
Palfinger sold 17,700 cranes and systems in 2001, a slight increase in volume from the 17,097 sold in 2000.
Palfinger has grown aggressively through acquisition and new product development in recent years. Indicating that this would continue, the company said: ‘Despite the harsh trading environment Palfinger recorded an EBIT margin of 11.6% in 2001. The company’s successful expansion strategy will therefore remain in place.’ Palfinger’s final results are published on 25 March.
