Beneficial interest 50%
AvH Contact: John-Eric Bertrand
Telemond’s customers were still confronted with a sharp downturn in the hoisting business and a slowdown in the construction industry in several key markets, such as China, South America and Russia. The overcapacity was offset by a reduction in the workforce. The effects of these cost cuts became noticeable in 2016. The group recorded a net profit of 2.2 million euros. The turnover decreased slightly to 69.0 million euros, due to a persistent difficult market environment in the BRICS countries and Southern Europe.
Despite the negative market trends, Teleskop and Montel were able to increase their market share with their principal customers in the hoisting business. The group also entered into new partnerships in the rail sector and in the construction of lifting platforms.
Teleyard, the new entity in Stettin (Poland), targets the marine and offshore industry. The entity consolidated its reputation as a reliable supplier of very large complex steel structures and has won many new customers.
Henschel Engineering Automotive stepped up the production of its new line of loading platforms with flip-down sides for the VW Crafter van.
For 2017, the group expects to see a further increase in its results thanks to the further development of its Teleyard activities and the higher turnover of Henschel Engineering Automotive.