Terex Corporation posted a strong finish to 2017, but failed to cover poor results earlier in the year.
Fourth quarter figures for the company’s Aerial Work Platforms saw net sales of US$1.1bn, a 9.1% like-for-like rise on Q4 results in 2016.
The company’s Genie brand was a strong contributor to the upturn, posting an 18.6% increase in net sales and 4.7% up for the full year results.
The positive finish to 2017 for Terex overall was unable to fully recover the disappointing figures for earlier in the year and the US$4.4bn net sales over the full 12 months were down 1.8% compared to the previous year.
“The fourth quarter marked an excellent finish to an important year for Terex with profitability increasing significantly,” remarked John L Garrison, Terex president and CEO.
“We continued to simplify the company to enhance efficiency and make it easier for our customers to do business with us.
“We reduced administrative expenses while increasing investment in innovation, strategic sourcing, and commercial excellence.”
Matt Fearon, Genie president, Terex aerial work platforms (AWP), added, “AWP enters 2018 with clear signs that markets are improving for the first time in several years and we believe the Genie business is well positioned for the improving market.”
February 16, 2018
