Germany: Demag Cranes Posts Good Start to New Financial Year
Demag Cranes started financial year 2011/2012 with ongoing growth. Demag Cranes once again outperformed the prior year on our key reporting indicators: Group order intake, Group revenue and operating EBIT.
Demag Cranes AG’s CEO, Aloysius Rauen, states: “Financial year 2011/2012 has started well for the Demag Cranes Group. However, there are signs that our order intake shows reduced dynamics and that there is an overall slowdown in business activity as a result of the current unsettled global economic climate.”
Group order intake increases slightly by 2.3% over previous year’s figure
The Demag Cranes Group generated order intake of EUR 290.4 million in the first quarter of financial year 2011/2012 (first quarter of 2010/2011: EUR 284.0 million). This represents growth of 2.3%. Growth in order intake was contributed to by the Industrial Cranes and Services segments. The Group order book totalled EUR 390.0 million at 31 December 2011, up 6.6% on 31 December 2010 (EUR 366.0 million).
In the Industrial Cranes segment, order intake increased by 4.2% from EUR 135.9 million in the previous year’s quarter to EUR 141.6 million in the first quarter of financial year 2011/2012. Almost all product lines contributed to this development. The order book in the Industrial Cranes segment stood at EUR 229.9 million at the 31 December 2011 balance sheet date, an increase of 5.5% compared with 31 December 2010 (EUR 217.9 million).
Order intake in the Port Technology segment fell compared with the first quarter of financial year 2010/2011. Current uncertainty in connection with the debt crisis has slightly reduced the momentum in order intake over the past quarter. The products affected were Mobile Harbour Cranes. Segment order intake in the period under review was consequently EUR 59.4 million, down from EUR 63.7 million in the same quarter of the previous year. As at 31 December 2011, the Group order book for the Port Technology segment stood at EUR 99.1 million and was thus up 12% on the previous year. The order book as at 31 December 2010 came to EUR 88.5 million.
In the Services segment, too, the orders situation improved compared with the previous year’s quarter. Demag recorded a 6.0% increase in order intake across all product lines in the segment. Order intake in the first quarter of financial year 2011/2012 came to EUR 89.4 million, compared with EUR 84.4 million in the same quarter of the previous year. The order book in the Services segment amounted to EUR 61.0 million at 31 December 2011, up from EUR 59.6 million at 31 December 2010.
About Demag Cranes
The Demag Cranes Group is one of the world’s leading suppliers of industrial cranes and crane components, harbour cranes and terminal automation technology. Services, in particular maintenance and refurbishment, are another key element of the Group’s business activities. The Group is divided into the business segments Industrial Cranes, Port Technology and Services and has strong and well-established Demag and Gottwald brands. Demag Cranes sees its core competence in the development and construction of technically sophisticated cranes and hoists as well as automated transport and logistics systems in ports and terminals, the provision of services for these products and the manufacture of high-quality components.
As a global supplier, Demag Cranes manufactures in 16 countries on five continents and operates a worldwide sales and service network that is present in over 60 countries through its subsidiaries such as Demag Cranes & Components GmbH and Gottwald Port Technology GmbH, agencies and a joint venture. In financial year 2010/2011, the Group, with its 6,115 employees, generated revenue of EUR 1,062.3 million. Since August 2011, the Terex Group in the United States has held a majority share in the company.
Dredging Today Staff, February 7, 2012; Image: demagcranes-ag