search Print Highlights conSolid<strong>at</strong>ed MANAGEMENT REPORT / Segments and Outlook Consolid<strong>at</strong>ed Management Report / Segments and Outlook • EUROPEAN UNITS segmENT Accounts fOR lION’S ShARE Of revENUE and earnings despite high vol<strong>at</strong>ility • AREA UNITS segmENT: high gROwth r<strong>at</strong>es achIEved, abovE All in young markets • VENTURES unit accelERATES ONgOINg mARkET ExPANSION IN ASIA • Slight gROwth exPEcTEd in 2012 dESPITE UNcERTAIN OUTlOOk Consolid<strong>at</strong>ed Management Report / Segments and Outlook Performance by Segment 92 euroPean UNITS 92 area UNITS 95 VentureS 97 Key Events after the Balance Sheet D<strong>at</strong>e 98 Outlook 99 <strong>palfinger</strong> Annual Report 2011 91
Performance by Segment conSolid<strong>at</strong>ed MANAGEMENT REPORT / Segments and Outlook > search Print Performance by Segment Since 2010, PALFINGER has taken a regional approach in its organiz<strong>at</strong>ional structure. The European business units and the areas outside Europe have been given a large degree of independence in order to enable them to meet the requirements of the individual markets in an ideal manner. Not only does this support the further intern<strong>at</strong>ionaliz<strong>at</strong>ion of the Group, it also makes it possible to focus more strongly on increasing the flexibility of all processes. In this context, special emphasis is placed on str<strong>at</strong>egic projects th<strong>at</strong> promote the further development of the PALFINGER Group. The segment performance figures are broken down accordingly into the segments EUROPEAN UNITS and AREA UNITS and the VENTURES unit. Segments 2011 Revenue EUR thousand Revenue in % EBIT EUR thousand EBIT in % EUROPEAN UNITS 621,739 73.5% 80,058 117.9% AREA UNITS 223,938 26.5% (1,102) (1.6%) VENTURES – – (10,301) (15.2%) Consolid<strong>at</strong>ion – – (738) (1.1%) <strong>palfinger</strong> Group 845,677 100.0% 67,917 100.0% EUROPEAN UNITS 2009 2010 2011 The EUROPEAN UNITS segment comprises the area EMEA with the business units Knuckle Boom Cranes, Timber and Recycling Cranes, Tail Lifts, Access Pl<strong>at</strong>forms, Hookloaders, Transportable Forklifts, Railway Systems, Production, the distribution company in Germany and the associ<strong>at</strong>ed subsidiaries and, since the third quarter of 2010, the Marine Systems business unit. 800,000 600,000 400,000 404,875 479,180 621,739 BusineSS development in 2011 200,000 In the 2011 financial year, the EUROPEAN UNITS segment posted revenue of EUR 621.7 million, which was 29.8 per cent higher than the previous year’s figure of EUR 479.2 million. This corresponds to EUR 142.6 million in growth, EUR 54.5 million of which is <strong>at</strong>tributable to the new Marine Systems business unit. In 2010, revenue gener<strong>at</strong>ed by Ned-Deck Marine (NDM) was included in this segment for only six months, while revenue gener<strong>at</strong>ed by the marine and wind energy business taken over from Palfinger systems GmbH was included for only a two-month period. 0 100,000 Development of segment revenue (EUR thousand) 2009 2010 2011 Revenue and earnings grew in nearly all product areas, with exceptionally high increases in earnings being achieved in the business units Timber and Recycling Cranes, Access Pl<strong>at</strong>forms, Transportable Forklifts and Hookloaders, as well as by the distribution company in Germany. The strongest growth in absolute figures was recorded in the crane business, which, however, was also the area faced with the biggest prior decline. Railway Systems was the only business unit to post a decline in revenue in 2011, thus reducing the positive contribution to earnings. This was due to the vol<strong>at</strong>ile order situ<strong>at</strong>ion in 2010 in combin<strong>at</strong>ion with the long lead times of projects. 80,000 60,000 40,000 20,000 11,311 52,710 80,058 0 Development of segment EBit (EUR thousand) 92 <strong>palfinger</strong> Annual Report 2011