Germany: Demag Cranes Makes 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.

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World Maritime News Staff, February 7, 2012; Image: Demag Cranes