12.02.2013

Record revenues for Palfinger

Palfinger has announced that in 2012 it achieved the highest revenues in its history, at €935.2 million they were 10.6 percent higher than for 2011.
Pre-tax profits however slipped back slightly, falling almost six percent to €53.7 million.

The company says that the revenue gains largely came from North America, South America, CIS markets and the marine business. revenues in Europe, Middle East and Africa were flat at €617 million, while revenues from the rest of the world grew 42 percent to €318 million.

In terms of profitability most of it is still generated in the European region, however operating profits for the region dropped seven percent to €74.2 million. In the rest of the world a loss of €1.1 million in 2011 was transformed into a profit of €10.99 million in 2012

The company says that it expects moderate growth in 2013, with the bulk of it coming from emerging markets.

Vertikal Comment

There is little for us to get out teeth into here, although the lower margins generated in the emerging markets, indicates how important it is to maintain strength in traditional markets even if they are not generating double digit growth.

The fact is, that like so many business the original core developed operation is generating the profits to fund the expansion into new areas that are likely to be a major fact in the future. So while the new markets need attention and investment the markets that provide the profits cannot be taken for granted.

Palfinger is doing well, perhaps a little better than it suggests in its forecasts, 2013 may well see it exceed €1 billion for the first time?