A record year for Palfinger

Sales in 2013 at Palfinger of €981 million (US$ 1.35 billion) made it another record year for the Austrian manufacturer of loader cranes, other materials handling equipment and aerial access platforms. The figure is 4.9 % up on the €935 million ($ 1.351.29 billion) of 2012, driven largely by regions outside Europe and growth in the marine cranes division, said Herbert Ortner, Palfinger CEO. Growth was strongest in North America, the CIS countries and China.

Earnings before interest and taxes (EBIT) in 2013 was €74 million ($102 million), up 8 % on the €69 million ($95 million) a year earlier. The EBIT margin in 2013 was 7.9 %, up from 7.3 % the year before.

Contributing to the growth for the first time were the two crane manufacturing and distribution joint ventures with the Chinese Sany Group. They will see consistent and further expansion, the company said.

Palfinger expects to exceed €1 billion ($1.38 billion) in sales in 2014 for the first time. The company said it still sees considerable growth potential in areas outside Europe and in the global marine business. In the second half of 2013 there was an increase in demand from the core European countries. Overall a double-digit increase in revenue is forecast for the 2014 financial year. Looking further ahead, Palfinger said it sees the potential to increase consolidated annual revenue to € 1.8 billion ($2.48 billion) by 2017, primarily from sales growth in the BRIC countries.