- Advertisement -
Monday, November 4, 2024
Home Magazines Palfinger reports record first quarter revenues

Palfinger reports record first quarter revenues

Mobile hoists and loading cranes major Palfinger has announced record revenues for the first quarter of the year, reporting a year-on-year rise of 8.9% to $471.6m.

The company also said that operating profits were at a satisfactory level, with EBITDA increasing 6.2% to $64.6m.

The company’s Land segment revenue increased by 13.6% year-on-year to $404.1m, while the segment’s normalised EBITDA grew to $69.8m, an increase of 13%. The EBITDA margin of the segment decreased marginally from 17.4% to 17.3% in the first quarter of 2018, Palfinger announced.

The growth in the Land segment was based on significant business expansion in the EMEA and Americas regions. In Europe, the acquisition of the Danish distribution partner, Palfinger Danmark, in early 2017 led to god growth while gains were also recorded in North America. Expansion continued in China through a partnership with Sany while in the company said it managed to grow in the Russia/CIS despite economic challenges

A spokesperson for the company said: “The development of operating profitability shows us that we are on the right track to achieve and sustain our goals. From today’s perspective, not least due to our full order books, the financial year 2018 may well be another record year in terms of revenue and operating profitability.”

In the company’s Sea segment business remained challenging as a result of the strained situation in the oil & gas industry, said Palfinger. First quarter revenues in the segment decreased this year to $67.4m, a fall of 12.7%. The contribution of the segment to Palfinger’s consolidated revenue shrank from 17.9% to 14.3%. The segment’s normalised EBITDA fell from $2.51m to $1.07m and the margin stood at 1.6%, compared to 3.3% in the first quarter of 2017.

- Advertisement -
- Advertisement -

Most Popular

See the Fleet and Mobility Summit schedule

The preagenda featuring the scheduled presentations and panel discussions for the upcoming Fleet and Mobility Summit is now live on the event's official website. Detailing...

SAF-HOLLAND showcased its entire brand portfolio for the first time at the IAA

SAF-HOLLAND has said it showcased its entire brand portfolio for the first time at the IAA Transportation show in Hanover, uniting all its companies...

The Kia Tasman rolls into Jeddah after UAE testing

Kia Corporation has officially introduced the Kia Tasman, its first-ever pickup truck, showcasing advanced capabilities for both work and leisure. Debuting at the Jeddah...

INDU Kishore Logistics breaks ground on state-of-the-art logistics facility

Dubai South, the UAE’s largest single-urban master development focused on aviation, logistics, and real estate, has partnered with INDU Kishore Logistics to break ground...

Related News

BMW Middle East showcases luxury and sustainability at Dubai Design Week

BMW Middle East is returning to Dubai Design Week as the exclusive Automotive Partner for the third consecutive year, presenting a unique pavilion that...

SAF-HOLLAND showcased its entire brand portfolio for the first time at the IAA

SAF-HOLLAND has said it showcased its entire brand portfolio for the first time at the IAA Transportation show in Hanover, uniting all its companies...

The Kia Tasman rolls into Jeddah after UAE testing

Kia Corporation has officially introduced the Kia Tasman, its first-ever pickup truck, showcasing advanced capabilities for both work and leisure. Debuting at the Jeddah...

INDU Kishore Logistics breaks ground on state-of-the-art logistics facility

Dubai South, the UAE’s largest single-urban master development focused on aviation, logistics, and real estate, has partnered with INDU Kishore Logistics to break ground...

Cargostore and HALEYS reveal high-spec trailers for Qatar

Cargostore Worldwide and HALEYS Group Middle East have joined forces to provide essential logistical infrastructure for the nation's expanding offshore energy projects. The collaboration...

LEAVE A REPLY

Please enter your comment!
Please enter your name here