We are continuing our record growth
In the first six months of 2017, the PALFINGER Group continued to post significant growth and set another new record for half-year revenue, which rose by 13.2 per cent year on year to EUR 753.8 million. The major drivers were the good performance in Europe and Russia as well as the acquisitions made since 2016. In the marine business, organic decline in connection with the oil and gas crisis was curbed.
Profitability rising further
The restructuring in North America and in the SEA segment will continue for a few more months and is, of course, having a detrimental effect on earnings. Nevertheless, PALFINGER’s goal of achieving two-digit operating profitability in 2017 was met in the first six months, with an EBITn margin (normalized by restructuring costs) of 10.2 per cent.
The high level of incoming orders gives reason to expect that business performance will continue to be satisfactory. For the 2017 financial year as a whole, our management continues to expect growth in revenue and earnings, normalized by restructuring costs. From today’s point of view, new record levels seem realistic.
Interim Report 2017: Expanding boundaries
Read here PALFINGER’s Interim Report 2017.