Revenue is increasing, the GLOBAL PALFINGER ORGANIZATION (GPO) is starting to generate synergy effects, and the Segment SEA broke even. These are the most important developments in the first three quarters of 2019 in a nutshell. They are reflected in figures as follows: Revenue climbed 10.0 percent to EUR 1,300.6 million, while on the earnings side EBITDA rose by 18.7 percent and EBIT by 17.3 percent. Behind these results is a great deal of commitment.
Leading Position in China
Thanks to our cooperation with our Chinese partner Neptune, we are now classified as a local producer of life and rescue boats. This benefits us by giving PALFINGER unfettered market access, based on which we have already carved out a leading position in the Chinese market.
Less dependent, more diversified
At the same time, we have reduced our dependence on oil and gas and are now more diversified by focusing on other segments such as cruise lifesaving equipment
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In the pipeline
Success doesn’t come out of the blue. We constantly strive to achieve it. One example of our efforts is STRUCINSPECT, a joint venture with our corporate incubator PALFINGER 21st. Digital bridge inspection is attracting considerable interest and opening up new fields of activity for us.
Restructuring and record
A lot of work also went into the implementation of the GLOBAL PALFINGER ORGANIZATION (GPO). Our reward can be seen in the form of initial efficiency gains. For full-year 2019 we are targeting record revenue of EUR 1.7 billion, and we have reached the conclusion that the general recession fears do not cast doubts on our growth targets.
Click here for the presentation on the first three quarters of 2019.