08.11.2018

Upward trend continues at Skyjack

Skyjack owner Linamar has reported strong growth in its Industrial division which includes double digit growth at Skyjack.

Sadly, the acquisition of agricultural equipment manufacturer MacDon in February, significantly reduces the visibility we have of Skyjacks results. For the nine months to the end of September sales were up almost 70 percent to $1.53 million, while operating profits more than doubled to $$284.3 million, this includes seven months contribution from MacDon, the company has stated that
it also includes strong market share gains and increased volumes for booms as well as scissor lifts in Europe and North America, along with significant market share gains and increased volumes for telehandlers in North America.

The same factors boosted third quarter revenues 86.2 percent to $484.8 million with operating profits more than doubling to $74.8 million.

Linamar as a whole achieved 19 percent year to date growth in revenues to $5.9 billion, with a pre-tax profit of $605 million, up 12.5 percent on the same period last year.

Linamar chief executive Linda Hasenfratz said: “We are delighted to announce another quarter of double digit sales and earnings growth. We continue to see record levels of opportunity and market share growth in our automotive business thanks to evolving technologies so well aligned to our capabilities, Skyjack continues to grow at double digit rates through product and geographic expansion, and MacDon is performing better than expected as well. We are confident in our ability to continue to drive growth at Linamar as we have so consistently done over the past 10 years.”

Vertikal Comment

It is a great shame that we cannot get a clearer picture of Skyjack’s financial performance, however, it is very clear that the company continues to make solid progress, making further gains towards its aim to become a full line manufacturer. Given what it still does not produce, it is almost certainly the scissor lift market leader, and probably moving closer on some of boom lift sectors?

All very positive with all four major self-propelled aerial lift manufacturers having posted strong growth this year.