PALFINGER recorded further growth in the first half of the year

PALFINGER recorded further growth in the first half of the year

The PALFINGER Group posted further growth in the first half of 2016. Revenue came to a record level of EUR 665.6 million, as compared to EUR 606.2 million in the same period of 2015. The revenue generated by the EUROPEAN UNITS segment rose by 13.4 per cent to EUR 469.7 million, and revenue from the AREA UNITS segment increased by 2.1 per cent to EUR 195.9 Million.

This growth was primarily based on satisfactory increases in nearly all product areas in Europe. In the other market regions, subdued economic conditions, weak exchange rates and, in North America, necessary reorganization resulted in ups and downs in performance. In the marine business, the turbulences in the oil and gas industry had a negative impact during the reporting period.

At the same time, PALFINGER succeeded in taking major steps towards building up the marine business as the Group’s second important mainstay. The acquisition of the Harding Group and the planned takeover of TTS Group ASA in the marine sector are milestones in the growth history of the PALFINGER Group, resulting in an enormous expansion of the Business

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PALFINGER still sees the potential to increase the annual revenue, including the joint venture companies in China and Russia, to approx. EUR 1.8 billion by 2017. In connection with the large acquisitions carried out in the marine sector, PALFINGER has come a step closer to this goal.

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