en.Wedoany.com Reported - Swedish international crane, mast climbing, and aerial work platform group Alimak released its first-half financial report, showing slight declines in both revenue and order intake during the reporting period, though the second quarter showed positive signs and a significant increase in pre-tax profit.
In the six months ending June 30, the group's total revenue was SEK 3.41 billion (EUR 308.7 million), down 3.1% year-on-year; order intake fell 5.3% to SEK 3.53 billion (EUR 319.6 million). Due to lower sales volumes and increased operating expenses, pre-tax profit plunged 15% to SEK 437 million (EUR 39.6 million), partially offset by lower financing costs. Net debt decreased nearly 3% to SEK 2.55 billion (EUR 213.7 million).
By segment, the Construction division posted revenue of SEK 679 million (EUR 61.5 million), down 17.2% year-on-year, with order intake down 7.2% to SEK 758 million (EUR 68.6 million), but operating profit rose 49.9% to SEK 67 million (EUR 6.1 million). The Facade Access division reported revenue of SEK 917 million (EUR 83 million), down 6.6% year-on-year, with order intake down 8.9% to SEK 863 million (EUR 78.1 million), and operating profit up 12.8% to SEK 115 million (EUR 10.4 million). The Industrial division posted revenue of SEK 789 million (EUR 71.4 million), up 4.7% year-on-year, with order intake down 7.6% to SEK 844 million (EUR 76.4 million), and operating profit down 2.7% to SEK 189 million (EUR 17.1 million). The Wind division reported revenue of SEK 399 million (EUR 36.1 million), up 20.6% year-on-year, with order intake up 14.3% to SEK 429 million (EUR 38.8 million), and operating profit up 30.2% to SEK 86 million (EUR 7.8 million). The Height Safety Solutions division posted revenue of SEK 655 million (EUR 59.3 million), down 2.3% year-on-year, with order intake down 5.4% to SEK 660 million (EUR 59.8 million), and operating profit down 3.5% to SEK 121 million (EUR 10.9 million).
In the second quarter, the group's revenue was slightly below the same period last year, at SEK 1.76 billion (EUR 159.4 million), down 1.6% year-on-year; order intake grew 1.2% to SEK 1.74 billion (EUR 157.5 million); pre-tax profit fell 4.9% to SEK 235 million (EUR 21.3 million).
CEO Ole Kristian Jødahl stated that in the second quarter, most of the group's businesses performed steadily with solid execution, with four out of five divisions performing well, significantly enhanced cash flow, and improved profitability compared to the previous two quarters. Meanwhile, the Construction division continued to be affected by unfavorable market conditions, with disappointing results for the quarter. He also noted that the war in the Middle East has brought uncertainty and led to delays in some operations, particularly in the Facade Access division, but no order cancellations have occurred. In July, the group signed an agreement to acquire Pro-Bel, a North American provider of high-margin suspended access and fall protection solutions, strengthening the Facade Access business, broadening the product range, and increasing exposure to the mid- and low-rise building sector; the acquisition of Fuji Lifts in Australia strengthened the traction elevator product line.
Vertikal commented that Alimak's figures are not bad, and the company is diluting the more cyclical elements of its business through relatively large-scale acquisitions, which remain related to aerial work but are less affected by fluctuations in the construction industry. At the same time, the company has strengthened aftermarket activities across all divisions to reduce reliance on sales of new construction-related equipment, and has consolidated new business areas through small bolt-on acquisitions. The company is also reducing net debt and managing the integration of acquired companies well. Although current figures are somewhat subdued, the underlying trend remains positive.
