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© Palfinger © Palfinger
Vienna / Bergheim. Palfinger wants to expand through innovation and increased synergy effects, larger acquisitions are not expected in the next two years. Andreas Klauser, 52, from Upper Austria, is the new CEO of Salzburg crane manufacturer Palfinger since the half-yearly press conference of 1 June
The consolidation of factories is not excluded. will not be affected, said Klauser. Palfinger currently has 39 production sites in 20 countries around the world. In Austria there is also the headquarters in Salzburg of factories in Lengau, Köstendorf and Elsbethen. Of the total of 10,500 employees, around 2,200 are employed in Austria.
In the first half of 2018, the Marine segment recorded a decline in sales of 11% to 114.9 million euros. As a result, the share of the Group's sales segment increased from 17.1% to 14.3%. This is attributed to Chief Financial Officer Felix Strohbichler in oil and gas production, where low prices led to a decline in sales of various cranes and lifting facilities. Restructuring measures in the maritime sector will weigh on profits in 2018 and 2019.
The much larger Land segment saw sales increase by 10% to 687 million euros in the first half. Growth will be achieved by Europe, but also by Russia, Klauser said. A possible trade war between Europe and the United States would not pose a threat because they also have production facilities in the United States. However, restructuring costs were also incurred in the land area and a paint shop in the United States had to be canceled.
More for orders
In total, Palfinger saw an increase in new orders in the first half of 2018. "We are limited by the supply industry," Klauser explained. . Customers are currently ready to accept a nine-month delivery. Part of the orders, which we get now, we could work only 2019. Although the factory holidays in Austria are not usually canceled, some employees still have to work because part of production remains in place.
Instead of acquisitions, the focus will now be on the integration of all acquired businesses: lead. This means no loss of quality, but standardization and simplification of components and techniques, said Klauser. The marine restructuring measures will weigh on profits in 2018 and 2019. Next year, fewer investments are expected than this year.
With a capital ratio of 37.2%, the Group can highlight a very solid financing structure, the CFO underlined. The goal is the increase to more than 40%.
Sales in the first half rose 6.4% to 801.9 million euros, operating profit (EBIT) rose 6.3% to 71.0 million euros. 39 euros to. The net result is a decline in profits: due to lower financial result, higher tax rate and higher profits of minority owners, the consolidated profit of 35.2 million euros is 8.8% lower at 38.6 million euros. Earnings per share increased from 1.03 to 0.94 euros.
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