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    Demag Cranes Grows Revenue Nearly 27 Percent in Third Quarter

    Aug. 10, 2011
    In the third quarter of fiscal 2011, Demag Cranes Group reported group revenue of € 260.3 million (about U.S. $370.4), a 26.9-percent increase from €205.1 million in the previous year’s quarter. Revenue in the first nine months of fiscal 2011 rose by 16.4 percent from €641.1 million to €746.1 million (U.S. $1.01 billion).

    In the third quarter of fiscal 2011, Demag Cranes Group reported group revenue of € 260.3 million (about U.S. $370.4), a 26.9-percent increase from €205.1 million in the previous year’s quarter. Revenue in the first nine months of fiscal 2011 rose by 16.4 percent from €641.1 million to €746.1 million (U.S. $1.01 billion).

    The Industrial Cranes segment generated revenue of €123.7 million (U.S. $176.0 million) in the third quarter, a 22.1-percent jump on the previous year’s quarter of €101.3 million. In the first nine months, segment revenue grew by 6.1 percent from €316.0 million to €335.1 million (U.S. $476.9 million).

    The group generated operating EBIT of €18.7 million (U.S. $26.6 million) in the third quarter, representing an 86.5-percent leap from €10.0 million in the previous year’s third quarter. On a nine-month basis, operating EBIT improved by 54.0 percent from €29.7 million to €45.8 million (U.S. $65.2 million).

    In line with its higher revenue, the group generated operating EBIT of €3.1 million (U.S. $4.4 million) in the Industrial Cranes segment in the third quarter of 2011, up from minus €1.6 million in the previous year’s quarter.

    In the quarter, Demag Cranes generated order intake of €277.3 million (U.S. $394.6 million), a 14.1-percent increase compared with €242.9 million in the same period a year ago. On a nine-month basis, the group generated order intake of €839.1 million (U.S. $1.19 billion), growing 30.5 percent on the comparable period of the previous year. The Industrial Cranes and Port Technology segments were particularly strong contributors to this growth.

    “We have been able to continue our growth trend,” said Aloysius Rauen, CEO of Demag Cranes. “We are pleased with our business performance and are on target with respect to our guidance figures for the full year.”

    The company said it expects Group revenue of approximately €1.06 billion (U.S. $1.51 billion) in the current financial year and an operating EBIT margin of 6.4 percent.

    Headquartered in Düsseldorf, Germany, The Demag Cranes Group is a leading supplier of industrial cranes and crane components, harbor cranes and port automation technology.