palfinger at a glance
palfinger at a glance
palfinger at a glance
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Performance by Segment<br />
conSolid<strong>at</strong>ed MANAGEMENT REPORT / Segments and Outlook<br />
VENTURES<br />
The VENTURES unit is still composed of all major str<strong>at</strong>egic projects for the future pursued by the<br />
PALFINGER Group up to their oper<strong>at</strong>ional m<strong>at</strong>urity, and the costs of such projects are reported<br />
in this unit.<br />
0<br />
(2,500)<br />
(5,000)<br />
(7,500)<br />
(10,000)<br />
(12,500)<br />
2009 2010 2011<br />
(4,230)<br />
(7,746)<br />
Development<br />
of unit EBit<br />
(EUR thousand)<br />
(10,301)<br />
Significant changes,<br />
ContinUAtion of<br />
market expansion<br />
Page 62<br />
BusineSS development in 2011<br />
In 2011, numerous projects, particularly in the areas CIS, Asia and Pacific, and India, were<br />
coordin<strong>at</strong>ed under the VENTURES unit.<br />
With the takeover of the Russian crane producer INMAN, a major growth project for the PALFINGER<br />
Group in the area CIS was successfully completed in the third quarter of 2011.<br />
A priority in 2011 was the prepar<strong>at</strong>ion of the preferred str<strong>at</strong>egy for the Group’s further positioning<br />
in China. PALFINGER is proceeding on the assumption th<strong>at</strong> China is going to become the largest<br />
market for its products within a few years. In order to maintain its global leading position, it is<br />
therefore important, for several reasons, th<strong>at</strong> PALFINGER become considerably more active in this<br />
growth market, apart from the existing plant in Shenzhen. PALFINGER has been holding talks with<br />
potential Chinese partners for some time now in this connection.<br />
The projects included in the VENTURES unit do not gener<strong>at</strong>e revenue. The unit’s EBIT for 2011<br />
amounted to –EUR 10.3 million, compared to –EUR 7.7 million in 2010. The year-on-year increase in<br />
expenses reflects the fact th<strong>at</strong> the PALFINGER Group consistently promotes its projects for the future.<br />
EUR thousand Q1 2010 Q2 2010 Q3 2010 Q4 2010 Q1 2011 Q2 2011 Q3 2011 Q4 2011<br />
Unit EBIT (1,584) (1,861) (1,744) (2,557) (1,772) (2,539) (2,650) (3,340)<br />
Share in the consolid<strong>at</strong>ed net result for the period<br />
in % of Group 2011 EUR thousand 2010 EUR thousand<br />
EBITDA (10.6%) (10,301) (7,746)<br />
EBIT (15.2%) (10,301) (7,746)<br />
Average payroll during reporting period * 1.0% 57 24<br />
* Consolid<strong>at</strong>ed Group companies excluding equity shareholdings and temporary workers.<br />
<strong>palfinger</strong> Annual Report 2011<br />
97