Double-digit rises at Palfinger

Knuckle boom crane manufacturer Palfinger Group revenue of €423.5 million (US$631 million) in the first half of 2008 was 24.3% above the €340.6 million ($508 million) in the same period of 2007, writes Patrick Hill. EBIT (earnings before interest and taxes) rose to €59.6 million ($89 million), 16.9% greater than the €51.0 million ($76 million) of the same period of 2007.

Second quarter revenue was €214.5 million ($320 million), up 2.7% from €208.9 million ($311 million) in the first quarter. EBIT of €30.0 million ($45 million) for the quarter was 1.4% greater than the €29.6 million ($44 million) of the earlier period.

The company forecasts double-digit revenue growth throughout the remainder of 2008. It cited leading indicators of reversal of the trends in currently weak markets, including Spain, Great Britain, Italy, and the US.

Palfinger Group 2007 sales were €696 million ($1.038 billion).