PALFINGER ACHIEVES NEW GROWTH IN FIRST QUARTER OF 2017
In the first quarter of 2017, PALFINGER AG continued to grow and managed to increase its operating profitability, excluding restructuring costs. Revenue rose to EUR 361.9 million, which corresponds to an increase of 13.5 per cent. EBITDA normalized by restructuring costs (EBITDAn) surged by 18.7 per cent, coming to EUR 50.9 million. The EBITDAn margin rose from 13.4 per cent to 14.1 per cent. EBITn grew from EUR 32.0 million to EUR 36.6 million, increasing the EBITn margin to 10.1 per cent.
BRIGHT PROSPECTS FOR THE 2017 FINANCIAL YEAR
This growth was based on expansion in the EMEA and CIS regions in the LAND segment; higher revenue in the SEA segment, due to the acquisitions made, contributed as well. In the first quarter of 2017, the PALFINGER Group recorded a high level of incoming orders. This gives reason to expect that business performance, which was good overall, although heterogeneous across the individual regions, will continue to be satisfactory throughout the rest of the financial year. The management still expects an increase in revenue for the 2017 financial year and is aiming for a two-digit EBITn margin. The restructuring measures in North America and in the marine business, which are still impacting negatively on earnings, are scheduled to be completed within the coming months.
Read our Interim Report of the First Quarter 2017.