Alimak reports strong third quarter

Alimak reported total revenues for the third quarter at SK2.95 billion ($359 million), an increase of 103 percent on last year. The Swedish mast climber and hoist manufacturer said order intake was ahead of revenues and pre-tax profits were 40 percent higher at SK290.3 million ($35.3 million).

“The integration of the acquired companies continues with good progress through our launched integration projects addressing after sales, purchasing, production and cross selling opportunities to name a few,” said Chief Executive Tormod Gunleiksrud. ”We remain confident that our started integration and strategic initiatives will support the achievement of our mid-term financial targets.

“As part of our integration activities to expand our after sales business, we have recently launched a pilot-project in the U.S. introducing a joint sales and service organization. This will further enhance our offering and support to customers. This concept will, after evaluation and fine-tuning, be rolled out in additional markets during 2018. In rental, organic order intake and revenue grew 18 percent and one percent respectively during the quarter with positive development in all geographical markets.”

In the third quarter, revenues were 108 percent higher at SK979.8 million ($119 million) with order intake of SK868.8 million ($105.6 million), which was 70 percent higher than this time last year.

Construction sales were down, but finished the quarter up four percent. Pre-tax profits were 32 percent greater at SK94.2 million ($11.5 million), while the industrial division saw revenues up 31 percent due to acquisitions like Façade Access Group at the end of last year. After sales jumped 44 percent.