30.10.2015

Strong quarter for Palfinger

Austrian loader crane and access company Palfinger has reported a very positive third quarter in terms of revenues, profits and future prospects.

In the first nine months of the year the company achieved revenues of €898.9 million, almost 15 percent up on the same period last year. Much of the growth came from loader crane sales in Europe, with the region generating almost 70 percent of all revenues. North America also performed well with higher sales boosted by a strong dollar to Euro exchange rate shift, while the company’s operations in Russia also posted respectable growth.

While Palfinger no longer provides numbers by product sector, it did mention that sales of aerial lifts had increased in the period. Pre-tax profits jumped almost 45 percent to €69 million.

In the third quarter revenues increased over 16 percent to €292.7 million with strong loader crane sales in the UK, Denmark, Belgium, Spain, Italy, Austria, South Africa and New Zealand. Pre-tax profits meanwhile increased over 66 percent to €20.15 million.

The company said that it is optimistic for the rest of the year, stating: “the present level of incoming orders gives reason to expect further growth in the fourth quarter of 2015. In Europe, visibility is still low but has stabilised. The investment propensity of customers in Europe is still restrained, despite some positive trends, whereas in the USA there is greater confidence in a revival of the economy”.

Vertikal Comment

Another solid set of numbers form Palfinger, this time accompanied by very strong profit growth, creating new records. One very encouraging sign was the pick-up in sales of loader cranes to Spain and Italy, confirming anecdotal evidence that we have already referred to in other news items.

The business is very well placed to continue on this trajectory, and looks set to post another record year in 2015, with very strong prospects for 2016.