Palfinger up nearly 16%

Revenue at Palfinger was up 15.7 % to new record high of €1,230 million (US$ 1,374 million) in 2015. It was up from the €1,063 million ($ 1,188 million) of 2014 at the Austrian manufacturer of hydraulic cranes, aerial work platforms and materials handling equipment.

Earnings before interest and taxes (EBIT) was up 58 % from €66 million ($ 74 million) to €104 million ($ 116 million).

Herbert Ortner, Palfinger CEO, said, “The Palfinger Group achieved these record results in a difficult and volatile environment, which shows that the consistent implementation of our corporate strategy has borne fruit and put us in an excellent competitive position. We have adjusted our product range to the requirements of each market region, and we have become more flexible in production, which we are increasingly outsourcing to the market regions.”

Sales were up in Europe, the USA, Russia and the CIS, the company said, going on to cite success in Asia from the company’s co-operation with Chinese manufacturer Sany. Demand in South America was down 35 % but market share was up, the company said. In other sectors, despite the falling oil price reducing demand in the marine business, this sector still grew 26 %.