Positive half year financial reports from companies across the off-highway sector indicate it’s been a good six months for the industry. Material handling firm Terex AWP, as well as off-highway businesses Manitou Group and Palfinger, have all reported healthy figures for 2018 so far.
The second quarter of the year proved to be a welcome season for Terex, which increased sales by 19% to US$1.4bn compared to the same period 12 months prior. North America, Western Europe and China all contributed to the growth witnessed by the company.
“We delivered very strong results in the second quarter. Our global team continued to execute well and continued the trend of improving overall performance. We increased sales and backlog in all three segments and increased production to meet strong global demand,” remarked John L Garrison, Terex president and CEO.
“Overall, it was a strong quarter that positions us very well going into the second half of the year.”
Positive results were also seen by Manitou, which, compared with last year, experienced a 17% hike in net sales taking the company to US$1.093bn for the first half of 2018. Figures for order intakes, operating income and earnings before interest, tax, depreciation and amortization (EBITDA) all also rose in the period.
Michel Denis, president and CEO, Manitou, said, “Business was buoyant in all geographies and in our three markets of construction, agriculture and industries.
“In this very favorable environment, the Manitou group continued to expand its products range, gain market shares and increase its production rate. Growth made great demands on the operational chain, which remained tense but under control. The increase in production rates enabled us to accelerate the reduction of the depth of the order book, something we want to continue, in order to be more responsive to our customers.”
Likewise, Palfinger achieved its highest revenue at US$931,150, with EBITDA improving by 4.3% on 2017 figures for the same period.
“Thanks to strong demand, we were able to continue our profitable growth,” said Andreas Klauser, CEO of Palfinger. “For 2018 as a whole, we again expect an increase in revenue and operating profitability, as well as a higher consolidated net result than in 2017.”