Palfinger saw its revenues rise 21% in 2004 to a record Euro 404.0m and pre-tax profit rise 61% to Euro 41.5m, according to forecasts published by the company. Final results are published on 16 March.
Growth was founded on a reorganisation – the so-called Global Palfinger Structure – implemented on 1 January 2004, the company said. The company has continued reform of its manufacturing structure, moving cylinder production and other processes to company factories in Bulgaria.
The strong performance comes despite supply bottlenecks and increases in materials prices that were only partially passed on to the market from September.
The results include one month’s sales from the acquired truck-mounted aerial work platform producer Bison.
As the German market leader in truck-mounted platforms, Bison had annual sales of about Euro 13m in 2003.
Palfinger said that was aiming to become the European market leader in truck-mounted aerial work platforms in the medium term.
Palfinger’s success in 2004 reflects that of its greatest competitor, Hiab, which saw deliveries up more than 10% in 2003 to approximately 11,000 cranes.
Palfinger said that its management was aiming to achieve further substantial increases in revenue and results in 2005.
In 2003, Palfinger’s revenue was Euro 334.1m and in 2002 it was Euro 306.5m.
