PRAMAC S.p.A. Gets Protected by New Import Taxes According to BAC Report02 Feb 2012 • by Natalie Aster
LONDON – End of 2011 Council of the EU decided to impose new import taxes on Chinese pallet trucks, which is a good news for all European machinery manufacturers in general and Pramac in particular. The legislative act became operative in Autumn 2011, and is already influential on European pallet truck market.
Handling systems brings about 10% of Pramac revenues, while Italy itself takes 27% of sales, and EU market generates 37% more of the value. So pallet truck sales make a noticeable contribution into company’s incomes.
Pramac is not commercially successful in the last two years. 2009 was a difficult period for the company, though in 2010 its was able to zero operating loss and significantly reduce net loss. In 2010 revenue and net income amounted to EUR 234.6 M and EUR (12.2) M, respectively. Latest quarterly results available show Q3 2011 numbers, where revenue and net income equal EUR 111.2 M and EUR (10) M, respectively. So despite increasing revenues FY 2011 results are expected to be generally poor. New import taxes against Chinese dumping are a great chance for Pramac to recover its financials.
Founded in 1966 and headquartered in Siena (Italy), Pramac SpA is a group of companies engaged in design, manufacture and distribution of handling machinery and electricity generators. Operating businesses: PRAMAC Generators, PRAMAC Solar, PRAMAC Wind, LIFTER Handling Systems, PRAMAC Service & Parts, PRAMAC Racing. Distribution countries: Italy, Spain, Germany, United Kingdom, France, Poland, Romania, Slovakia, Switzerland, Russia, China, Singapore, Hong Kong, United Arab Emirates, United States, Dominican Republic, Puerto Rico, Brasil, Senegal. The company is public and trades at Milan SE under the ticker PRAM.
Get other details on the company’s news, activities, SWOT enclosure, peers and more from the report "PRAMAC S.p.A. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis" recently published by Market Publishers Ltd.
Title: PRAMAC S.p.A. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis
Date: Jan, 2012
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