Q1-Q3 2016: The PALFINGER Group posted further growth with good profitability

Q1-Q3 2016: The PALFINGER Group posted further growth with good profitability

Performance of the PALFINGER Group Q1-Q3 2016

In the first three quarters of 2016, the PALFINGER Group increased revenue by 10.9 per cent to EUR 996.6 million, thus setting a new record for a third-quarter result. This was made possible in particular by the positive development in Europe in almost all product areas, as well as the acquisition of Harding. Together with Harding, PALFINGER has become the world market leader in maritime lifesaving equipment. The integration of Harding and the corresponding restructuring measures in the marine business as well as at the North American sites have already been initiated and are expected to be finalized in mid-2017.

Performance by Region

In Europe, the acquisition of MYCSA and the establishment of PALFINGER Iberica had positive impacts. We also recorded growth in North America; no market recovery is on the horizon in South America, however. In Asia, the partnership with SANY has proven its worth, and in Russia/CIS, local value creation enabled further growth

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. The marine business increased revenue as well.

Outlook

The level of incoming orders gives us reason to expect that the generally positive business development will continue in the fourth quarter of 2016. Harding will make a large contribution to this end. We also expect an increase in earnings when normalized by reorganization costs.

The entire press release is available on our homepage: https://www.palfinger.ag/en/newsroom/company-news/ir-news/2016/PM_Q3

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