Demag Cranes publishes financial results for the second quarter of financial year 2011/2012

D├╝sseldorf,   08. May 2012

Düsseldorf, 8 May 2012. Demag Cranes reported continued growth in the second quarter of financial year 2011/2012. Year on year, the Group was able to increase its key reporting indicators comprising Group order intake, Group revenue and operating EBIT.
 
Group order intake up 11.0% on prior-year period
The Demag Cranes Group generated order intake of EUR 308.4 million in the second quarter of financial year 2011/2012 (second quarter of 2010/2011: EUR 277.9 million). This represents growth of 11.0%. The Port Technology segment contributed substantially to the growth in order intake. Group order intake in the first half of financial year 2011/2012 came to EUR 598.7 million. This represents growth of 6.6% on the first half of financial year 2010/2011 (EUR 561.9 million). The Group order book totalled EUR 414.3 million at 31 March 2012, up 9.5% on 31 March 2011 (EUR 378.4 million).
 
Group revenue 10.8% higher than prior-year quarter
The second quarter of financial year 2011/2012 saw the Demag Cranes Group generate revenue of EUR 282.1 million – an increase of 10.8% on the previous year’s quarter (second quarter of 2010/2011: EUR 254.6 million). Revenue in the first half of 2011/2012 was EUR 552.0 million, up 13.6% on the first half of 2010/2011 (EUR 485.8 million).
 
Group operating EBIT grows 38.6% relative to prior-year figure
At Group level, Demag Cranes generated operating EBIT of EUR 20.2 million in the second quarter of financial year 2011/2012. This represents an increase of 38.6% on the figure for the previous year’s quarter (EUR 14.6 million). On a half-year basis, Group operating EBIT came to EUR 34.3 million, compared with EUR 27.1 million in the first half of 2010/2011. This represents growth of 26.6%.
 


Outlook: reliable projections still made difficult by uncertain economic trend
The global economic trend remains subject to considerable risks, in particular as a result of the uncertainties surrounding the debt crisis in several European countries, most notably Greece, Italy, Ireland, Portugal and Spain. Future global economic growth will continue to be driven by emerging markets especially, although these, too, seem to have lost some of their economic resilience.
The uncertainties outlined make it increasingly difficult to give reliable long-term projections for ongoing economic trends and the associated demand for the products of Demag Cranes. Despite this unpredictability, the Management Board still anticipates Group revenue of around EUR 1.1 billion for the current financial year continued improvement in the operating EBIT margin compared with the previous year.
 
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 the 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.

 
Demag Cranes AG. We Can Handle It.

 


 

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Conditions for forward-looking statements
This press release contains forward-looking statements relating to the business, financial performance and earnings of Terex Material Handling & Port Solutions AG and its subsidiaries and associates. Forward-looking statements are based on current plans, estimates, projections and expectations and are therefore subject to risks and uncertainties, most of which are difficult to estimate and which in general are beyond the control of Terex Material Handling & Port Solutions AG. Consequently, actual developments as well as actual earnings and performance may differ materially from those which are explicitly or implicitly assumed in the forward-looking statements. Terex Material Handling & Port Solutions AG does not intend or accept any obligation to publish updates of these forward-looking statements.

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