PALFINGER steps up growth pace in 3rd quarter of 2015
In the first three quarters of 2015, the PALFINGER Group recorded strong growth. We expanded revenue by 14.9 per cent, achieving a new record of EUR 898.9 million. And what was even more pleasing was to see a substantial increase in earnings. The extraordinarily strong rise in EBIT of 38.7 per cent to EUR 77.7 million marked yet another record for the PALFINGER Group.
The major factors accounting for this positive performance included the huge gains achieved in the sale of loader cranes in Europe as well as the continued progress made by PALFINGER outside Europe. In North America, strong demand coupled with the strong US dollar facilitated a significant boost in revenue and earnings. In Russia/CIS, the strategic investments in local value creation made it possible for PALFINGER to continue its success in this market region. In Asia, PALFINGER’s cooperation with SANY was fruitful. In the marine business, the low oil price dampened customers’ willingness to invest; nevertheless, PALFINGER continued its growth, achieving an increase in revenue of approx. 25 per cent. In South America, however, PALFINGER recorded further losses in revenue as a result of the generally slack economy even though PALFINGER’s share in this market increased.
The present level of incoming orders gives reason to expect further growth in the fourth quarter of 2015. In Europe, visibility is still low but has stabilized. The investment propensity of customers in Europe is still restrained, whereas in the USA there is greater confidence in a revival of the economy.