09.05.2008

Demag Cranes surges ahead

Demag Cranes Group - one of the world's leading suppliers of industrial cranes and crane components, harbour cranes and port automation technology – has reported a surge in second quarter earnings (to March 31st).

Compared with last year's figure, order intake grew organically by 9.9 percent to €353.0 million primarily due to the Industrial Cranes and Port Technology divisions. At the end of the quarter(as at 31 March 2008), the order book was up by 22.2 percent to €492.2 million. At the end of the first six months, the group recorded an increase in the order intake volume of 8.8 percent to €648.0 million.

Group revenues rose in a quarterly year-on-year comparison by 10.4 percent to €281.6 million. Compared with the first half of financial year 2006/2007, this figure went up by 15.1 percent.
Adjusted Group EBIT rose by 47.7 percent to €34.1 million compared to the prior year's figure. In a year-on-year comparison of the first six months, adjusted Group EBIT was up 45.5 percent to €64.0 million.

Demag Cranes has increased its forecast and now anticipates Group revenues around €1.2 billion (previously €1.13 to €1.16 billion) and adjusted EBIT to be up to around €125 million (previously €110 million) at year end.

The Management Board anticipates that business will continue to develop positively in the remaining quarters of financial year 2007/2008. Chairman of the Management Board, Harald J. Joos says: "There is an on-going high demand for our products and services. Thanks to this satisfactory order situation, we are well-equipped for the remainder of the financial year."