Significant Revenue and EBITDA Growth
The company reported $553 million in revenue and adjusted EBITDA of $34 million, marking a 30% year-over-year increase in EBITDA.
Increased Orders and Backlog
Orders increased to $491 million from $425 million last year, and the backlog ended at $667 million.
Record Non-New Machine Sales
Non-new machine sales were $177 million, up 5% year-over-year, and reached a record $667 million on a trailing 12-month basis.
Improvements in Safety and Productivity
The company achieved a 36% drop in the recordable injury rate and a 30% improvement in productivity at the Zhangjiagang factory with flat headcount.
Strong Performance in European Tower Crane Market
Tower crane orders grew 34% year-over-year, marking the fifth consecutive quarter of improvement.
Positive Market Developments in Europe and Middle East
Encouraging signs in Europe with increased housing permits and infrastructure investments, and strong market conditions in the Middle East.