Palfinger reports record revenue and high profitability

Bergheim-based, Austria, Palfinger AG a multinational group, acts as one of the world’s leading manufacturers of innovative lifting solutions has reported a growth in its operating profitability.

In the first quarter of 2017, the multinational Group displays revenue of € 361.9 million increased by +13.5%.

According to Palfinger, the growth was based on their expansion in the region of EMEA and CIS in the LAND segment, and the SEA segment for its part, has rose higher thanks to various acquisitions made. Due to a high record of incoming orders, the Group expects to keep the same level of business performance and enable to continue thus to be satisfactory throughout the rest of the financial year.

The performance of LAND segment saw a year-on-year increase of 6% (€ 297.2 million) particularly in the region of EMEA and CIS. In Europe, most of the growth is due to various acquisitions made in Spain and Danemark. In Asia, the partnership with Sany China had proved to be the foundation for the sound development of business and in Russia/CIS, local value creation facilitated additional growth.

The SEA segment’s revenue was raised by 68.6% (€64.6 million) year-on-year, the contribution of the segment of Palfinger group’s revenue thus rose to 17.9%. For business environment of the SEA segment, this remained highly challenging as a result of the strained situation of the oil and gaz industry. Nevertherless, with the increase of incoming orders, Palfinger succeeded in keeping its revenue the same level as the previous year.