further on the course towards concentration - dhf-magazin.com · the product portfolio and take...

Jürgen Warmbold, freelance trade journalist is the author of the world ranking list

Further on the course towards concentrationThe industrial trucks market is growing. At the same time, the branch is undergo-ing a process of concentration. Will a complete product portfolio ultimately be the key to success for industrial truck manufacturers to overcome the challenges overall competence of the world market in which demand is growing for efficient logistical complete solutions and? Jürgen Warmbold

World Ranking 2014/2015

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World ranking for industrial trucks

p Worldwide deliveries of industrial trucks in 2014: Sub-divided into units per continent (Sources: WITS Information Sheet 2015)

p World market for industrial trucks: Deliveries between 2012 and 2014 in thousands of units

p Industrial truck models Sub-division of 2014 world production into units

The range of desired solutions is highly diversified. On the one hand, there is a demand for custom-made complete sys-

tems, ranging from hand pallet trucks to automatic warehouse sys-tems along with information technology and the necessary periph-eral equipment. On the other hand, in order to serve the markets, it is necessary to also offer regionally specific industrial trucks, for example, slimmed down models. On top of that, a service to match the products has to be made available on a global scale. Consider-ing this situation, some industrial truck producers are on a course towards concentration - a strategy that makes it possible to expand the product portfolio and take advantage of synergies, for example, during development of components and modules.

A good example (but by no means the only one) is the Japanese company Mitsubishi Nichiyu Forklift Co. Ltd., founded in 2013 by the merging of the industrial truck division of Mitsubishi Heavy

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Industries Ltd. (MHI) with the Nippon Yusoki Co., Ltd. (branded Nichiyu). In this way, the MHI’s expertise in the area of internal combustion motored industrial trucks was brought together with that of Nippon Yusoki in the field of electrically powered industrial trucks while simultaneously gaining strategic advantages and sub-stantially increasing turnover. With MHI’s takeover of Unicarriers (65 percent of shares) and Mitsubishi Nichiyu Forklift (35 percent) in 2015, the Japanese firm continues on its course towards concen-tration, expanding its product range and, according to a press re-lease from Unicarriers, striving toward the position of global market leader. The Unicarriers Group was first formed in 2011 through the merger of the brands Nissan Forklift, TCM and Atlet.

Further examples of the concentration within the industrial truck market as well as the expansion of product portfolios can be found in the commentaries on the individual companies below, for example, for Toyota, Kion and Jungheinrich.

The reporting year In the reporting year 2014, incoming orders for units increased according to World Industrial Truck Statistics (WITS) from 1,009,777 (2013) to 1,088,366. This represents a rise of 7.7 percent. Following the 6.8 percent rise from -2013, this is the second increase in a row -- a positive development that is based pri-marily on growth in the high-volume markets in Europe, Asia and North America. In Asia, the number of ordered units increased from 401,252 (2013) to 438,327 (2014), an increase of 9.2 percent. China alone accounts for 273,300 of these units (up from 248,000 last year), which represents a rise of 10.2 percent and a 62.3 percent share of total orders in Asia. In America, the growth was more modest at 5.8 percent with 267,716 incoming orders (compared to 253,096 in 2013). The North American market as a whole stands out here, with its 9.2 percent growth from 200,900 (2013) to 219,400 (2014).

The European market in 2014 saw 29,078 more orders in 2014 than in 2013, rising from 315,455 units to 344,533. In other words, Europe’s growth of 9.2 percent is just as high as in America and Asia. In any case, the European market is characterised by strong differences between East and West. In that sense, the market vol-ume in Western Europe, following stagnation in 2013, reached per-centage growth in the low double digits, according to WITS, mostly based on stronger demand in Germany and Great Britain as well as a continuing recovery in Spain and Italy. In contrast, the mar-ket volume in Eastern Europe, which witnessed a moderate half-a-percent decrease, practically remained stable. The clear losses in Russia are offset by the strong growth in other markets in the re-gion, such as Poland and the Czech Republic. The most important generators for growth in all of Europe have been electric warehouse pedestrian trucks and electric counterbalanced rider trucks. Aside from internal combustion motored industrial trucks, the Europe-an market grew in all machine classes. With regard to industrial truck classes, just like in the previous year, there was nothing but growth in terms of ordered units. At 3.5 percent growth, the most modest increase was internal counterbalanced combustion trucks (classes 4 and 5), which also represent the largest product group (44.5 percent) by far. The growth in class 1 (electric counterbalance rider trucks) was at 13.3 percent; in class 2 (electric warehouse rid-er trucks) at 5.0 percent; and class 3 (electric warehouse pedestrian trucks) at 12.7 percent. In terms of quantity, incoming orders in

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3World ranking for industrial trucks

class 1 were at 181,511 (year before: 160,196); in class 2 at 105,645 (year before: 100,637); in class 3 at 317,002 (year before: 281,173); and in classes 4 and 5 at 484,208 (year before: 467,771).

There have been some shifts with regard to the question of which industrial trucks users in individual markets opt for. For example, suppliers in emerging countries, in which operators pri-marily demand low-cost industrial trucks, still have good chances of selling simple counterbalance forklift trucks with internal com-bustion motors. Another trend that can be seen is that, above all in China, there is a growing interest in semi-automatic solutions. In addition to data on incoming orders, we also found WITS data on the numbers of units delivered. After an increase in 2013 in the amount of 4.7 percent, quantities once again rose in reporting year 2014, climbing from 988,781 (2013) to 1,063,029 units (2014), i.e., an increase of 7.5 percent. Further data can be viewed in our graph-ics on ‘The global industrial truck market’ and ‘Global industrial truck deliveries’.

Future prospects Due to fact that the volume of the global indus-trial truck market, in terms of incoming orders and quantity, up to September 2015 has only shown moderate growth from about 818,000 to 828,000 (i.e. approximately 1.2 percent), furthermore showing a slight decrease in the third quarter (July to September), results for financial year 2015 (2015-2016) can be considered rough-ly the same as the year before. In Western Europe, there is reported growth of 11 percent, whereas in Eastern Europe, a decrease of 12 percent is reported. In North America, demand has also risen by

11 percent. The market volume in Asia, situated at 6 percent below the previous year, has risen by 4 percent excluding China. In Cen-tral and South America, a decreasing trend remains in effect. The more modest growth in the market as a whole is due to declines in the internal combustion motored industrial truck segment, as the diesel lift truck has been impacted by the dropping demand in Chi-na during the reporting period. With regard to orders for electric counterbalanced rider trucks and electric warehouse rider trucks, on the other hand, there has been strong demand. (Sources: WITS, Quarterly Report Jungheinrich and Kion)

Change as the constant In each year, there are companies who exit the World Ranking and others who we add for the first time. In reporting year 2014 (2014-2015), there were two departures and one addition. Those who exited the World Ranking were Bulmor

The prerequisite for being included on this world ranking list is a minimum turnover of € 10 million in the reporting year. Accord-ingly, this list does not include the over-whelming proportion, numerically speaking,

of the world population of industrial truck manufacturers. Virtually all industrial truck suppliers who satisfy the minimum sales revenue criterion are delighted to be included in this ranking list and use it for their marketing efforts. There are however manufacturers, some of them major players, who choose not to be included in this ranking list. This list therefore makes no claim to be complete or comprehensive. We would stress that the ranking list shown here is based solely upon sales revenues during the financial year – expressed in euros. The world ranking list does not contain any information about supplied quantities, nor about a manufacturer’s suitability for inclusion.

Manufacturers not on this list

The top priority for the editorial team was to evaluate numerical data and other informa-tion with meticulous care and to produce the world ranking list objectively. Due to the large number of figures involved, the divergent definitions and technical financial specifications in individual coun-tries, this list may contain errors. We would ask you, dear readers, to be understanding about this. Please do not hesitate to notify us of any errors that you may discover. We shall then publish any corrections that may be required in the next world ranking list.

An appeal to readers

ABIMAQ = Associação Brasileira da Indústria de Máquinas e Equipamentos (Brazilian economic area)CITA = China Industrial Truck Association (PR of China economic area)FEM IT = European Federation of Materials Handling, Product Group Industrial Trucks (European economic area)ITA = Industrial Truck Association (USA, Canadian, Mexican economic area)JIVA = Japanese Industrial Vehicle Association (Japanese economic area)KOCEMA = Korean Construction Equipment Manufacturers Association (South Korean economic area)

The major international trade associations

Industries GmbH, of Perg, Austria and the Italian Officine Meccan-iche Gonzaga (OMG) S.r.I., who either declined or did not respond to our queries for information. Re-entering the list, after a one-year absence, is the side-loader specialist Baumann S.r.I. from Italy.

Market shares of each company Industrial truck producers in-dicate their market share in terms of quantity (if they do so at all) and not in terms of value; therefore, as an alternative to this, we have compiled a table with the market share percentages of the companies’ turnovers in terms of value based on the industrial truck turnovers listed in the World Ranking. We added an estimated number in the amount of 5 percent to the resulting sums. The total sum achieved in this way should approximately correspond to the size of the glob-al market. By calculating market shares according to turnovers in terms of value, we provide an additional angle from which to view the market. This is an important approach, especially considering that the average price of specific types of industrial trucks can vary greatly, from a few hundred euros for a hand pallet truck, up to around a million euros for a reach stacker.

The influence of exchange rates As the World Ranking for In-dustrial Trucks is compiled inside the eurozone, we list the turno-

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vers in terms of euros. We do this even though the countries that do not belong to the eurozone are obliged by local laws to file fi-nancial reports in the local currency. Previously, we converted the earnings in these cases for each company according to the rates upheld by the European Central Bank (ECB) at the end of the fi-nancial year and entered the values into the ‘Conversion table for the World Ranking 2014/2015’. In response to the steep decline of the euro in the first quarter of 2015, for example, in comparison with the US dollar or the yen, the editors convert the values listed in the dhf World Ranking into euros, starting with the financial year 2014/2015, using the average annual exchange rate. These refer to the corresponding calendar year, in which at least nine months of the financial year of every company fall. Due to fluctuations in the exchange rate, which also cannot not be ruled out in the future, it

has become clear that the previous practice of setting the rate at the last day of the financial year in question can lead to inaccurate assessments. This also provides comparability with the years be-fore, because the deviations that resulted from the conversion are less significant than those that would have occurred due to heavy fluctuations in the exchange rate. The dhf World Ranking still lists the annual turnovers also in terms of the company’s national cur-rency and this is a unique feature, enabling a realistic comparison of the companies.

Comments on the list The table with the World Ranking shows the individual companies ranked in descending order in terms of industrial truck turnover. The companies are displayed in the table along with their logo, their abbreviated name and the country in which the company or its corporate headquarters is located. Turn-overs are listed in terms of net sales, i.e., without interdivision or inter-company sales.

We included producers who reported at least 10 million eu-ros in turnover from industrial trucks in reporting year 2014 (i.e., 2014-2015). In keeping with the traditions of the renowned manu-facturers and whenever possible, we show the data for the last five years. The exchange rate table is based on the euro. We converted the currencies according to the exchange rates upheld by the Eu-ropean Central Bank (ECB) on the basis of midyear values. The data on a company’s success refer to the company as a whole. The table does not contain numeric data, rather ‘P’ stands for ‘profit’, ‘L’ is for ‘Loss’ and ‘U’ is for unknown. In the commentaries on the individual companies, more detail is given in some cases on the achieved results.

The main table contains columns for the number of employees in the company as a whole and in the industrial truck segment. In the cases of companies with mixed production, it is often impos-sible to calculate the exact number of employees in the industrial truck segment; therefore, some fields remain empty here. Beside the main table, we provide a quick overview with the industrial truck turnover in euros, along with the market share represented by these individual turnovers and the direction of movement in the rankings compared to previous year. Some of the industrial truck manufacturers in our World Ranking are corporations who are le-gally obliged under the commercial codes in their home countries to compile and publish business reports. In view of these business reports, which we have analysed in detail, the companies can be ranked according to the necessary criteria. The business reports generally include calculations of profits and losses, balance sheets as well as cash flow statements, from which a company’s perfor-mance and overall stability can be determined. In addition to this, we conducted research online, gathering numbers and facts. When performing such research, we evaluate to the greatest extent possible whether the websites are current. Additionally, all the manufactur-ers are sent a questionnaire. In the event that no other information was available, the editors accepted the data provided through the questionnaires after performing a plausibility test.

Fortunately, the companies are very prepared to provide infor-mation. Only in very rare cases did companies provide no infor-mation. In these cases, we project the turnovers based on last year’s results and the changes in the country in question.

p World market for industrial trucks 2012: Deliveries in thousands of units (Sources: WITS Information Sheet 2014)

p World market for industrial trucks 2013: Deliveries in thousands of units

p World market for industrial trucks between 2012 and 2014, Sub-divided per continent, deliveries in thousands of units

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1. Toyota Industries Corporation, Japan

The Japanese industrial truck producer Toy-ota Material Handling Group (TMHG), a business unit of the Toyota Industries Cor-poration (TICO) is the leader in the field of industrial truck producers. Compared with 2013-2014 (809.3 billion yen / 5,682 million euros), TMHG’s net sales rose in 2014-2015 by 924.9 billion yen (14.3 percent) or 6,592 million euros (16 percent). Due to the World Ranking’s switch to average exchange rates for the calendar year, a strong fluctuation in the exchange rate as occurred in the pre-vious two years has been avoided. TICO also shows growth. The net sales of the cor-poration increased from 2,007.9 billion to 2,166.6 billion JPY (7.9 percent), equivalent to an increase from 14,098 million to 15,442 million euros (9.5 percent). The net income increased from 91.7 billion to 115.5 billion JPY (25.7 percent), or from 644 million to 821 million euros (27.5 percent).

TMHG’s growth extends to all regional markets. In the Japanese market for indus-trial trucks, which also grew in 2014-2015, Toyota sold 39,000 units, i.e. 5.4 percent more than in the previous year (37,000). The company’s market share grew moder-ately there to reach 47 percent. In Europe, Toyota delivered 68,000 units (year before: 59,000) during the reporting year, represent-ing a clear increase of 15.3 percent. In the North American market, where Toyota is the market leader as in Japan, 2014-2015 sales reached 73,000 units (year before: 67,000), representing a 9 percent increase. In other markets in Asia as well as in Latin Ameri-ca, Australia/Oceania, the Middle East and Africa, TMHG sold 42,000 units during the reporting year, meaning an increase of 17 percent compared to the previous year.

According to Toyota, the reasons for the positive business developments lie in the company’s further strengthening of its production and sales structures in the grow-ing markets and the delivery of new prod-ucts that cater to the markets in question. In

Commentary on the World Ranking 2014-2015Companies listed by rank

July 2014, Toyota began sales of the inter-nal combustion motored forklift truck se-ries GENEO (in Europe: TONERO) with a nominal load capacity of 1.5 to 8.0 tonnes. Equipped with a new, even cleaner motor, the forklift truck is intended to contribute to the reduction of environmental impact and to improve driver safety as well as usa-bility. Against this background, worldwide sales increases are still expected, also due to Toyota’s expansion of its business unit in the area of producing and selling acces-sory equipment.

As the basis for future turnover growth in the rapidly growing emerging countries, TMHG acquired 55 percent of the industrial truck business of Tailift Co. Ltd. in August 2015 for 10 billion yen. Tailift’s products are designed to meet the specific needs of these markets and Toyota has made it into a consolidated subsidiary. In October 2015, TICO published the consolidated results from quarter 2 of the financial year 2015-2016 in a financial summary. With regard to the corporation as a whole, the report points to a growth in net turnover from 1,046,067 million to 1,100,206 million yen (5.2 per-cent) compared to the corresponding period last year. TMHG is experiencing similarly positive developments. According to the fi-nancial summary, their turnover rose from 433.7 billion to 500.5 billion yen (15.4 per-cent). The reasons for this lie mainly in the growth on the European and North Amer-ican markets.

In the forecast for financial year 2015-2016, TICO expects a growth in net turnover from 2,167 billion to 2,230 billion yen (2.9 percent). In April, the prognosis was still at 2,200 billion. A forecast from the same month predicts growth in the Materials Han-dling Equipment division from 924.9 billion to 955 billion yen (3.3 percent). This is based on the rise in sold units from 222,000 (re-porting year) to 231,000 in the current year.

Toyota took home three awards at the iF Product Design Award 2015. They were distinguished for their electric low-lift trucks

from the new BT Levio P-series, the Tone-ro heavy-duty forklift as well as the electric counterbalanced rider trucks from the Trai-go 80 build series.

u www.global-toyotaforklifts.com

2. Kion, Germany

The Kion Group, furthermore ranked sec-ond on the World Ranking saw increas-es in its net sales following a slight down-turn previous year in financial year 2014, rising from 4,495 million to 4,678 million euros (a 4 percent increase). The corpora-tion showed strong growth in net income* from 138.4 million to 178.2 million euros (28.8 percent). The incoming orders were 4.3 percent above the net sales at 4,877 mil-lion euros. With regard to the share of the global market, the corporation reported this to be 14.2 percent for the reporting year (2013: 14.1 percent). The number of em-ployees at the end of the year in 2014 again showed an increase, climbing from 22,273 (2013) to 22,669.

In the EBIT, adjusted for acquisition effects as well as one-off and non-recur-ring factors, the Kion Group also showed increases. According to its business report, the adjusted EBIT grew by 6.3 percent to 442.9 million euros.

Considering revenues by segment, Linde Material Handling accounts for 59.2 percent; Still for 32.3 percent; Financial Services for 7.5 percent; and ‘other’ for 1 percent. The Kion Group has a global presence, offer-ing products, services and solutions under six brands. Linde and Still serve the premi-um segment worldwide; Baoli caters to the economy segment in China as well as in other growing markets. Fenwick distrib-utes Linde products in France under its own brand name. OM Still is the market leader

*) When comparing net profits it should be noted that the value of 161.4 million euros shown in the World Ranking for 2012 includes net income from the transactions of Weichai Power in the amount of 154.8 million euros.

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in Italy. Kion India (formerly Voltas) is one of India’s leading suppliers.

Analysing their revenues in terms of re-gional sales, the Kion Group grew by 5.8 percent in Western Europe where its sales reached 3,411 million euros. In Eastern Eu-rope, its sales grew by 9.1 percent to 403.3 million euros and in Asia, by 3.8 percent to 470.7 million euros. In contrast, sales turn-over declined in America (-12.2 percent) to 245.3 million and in the rest of the world (-12.2 percent) to 147.5 million euros.

Once again, Kion increased total expend-iture for research and development. At 119.7 million euros, these expenditures exceed the levels from the previous year (114.2 million euros) by 4.8 percent. This means that the corporation invested 2.6 percent of its rev-enues (2013: 2.5 percent) in research and development.

In May 2015, the Kion Group signed an agreement with the Belgian automation specialists Egemin Group regarding the pur-chase of its division for logistics automation which includes warehouse automation as well as automated guided vehicles and un-derfloor chain conveyors. According to its CEO Gordon Riske, the Kion Group expects sustainable strengthening of its expertise and possibilities with regard to conception and management of complex intralogistical au-tomation projects. The transaction reached closing in August 2015.

For financial year 2015, the Kion Group essentially reported growth. Incoming or-ders increased in comparison with the cu-mulative numbers for each third quarter from 3,487.7 million (2014) to 3,818.5 mil-lion euros (2015), representing a 9.5 percent increase. The revenues increased by 8.4 per-cent from 3,372.3 million (2014) to 3,657.2 million euros (2015). In terms of corporate results (net income), Kion showed a growth of 21.2 percent from 118.6 million (2013) to 143.8 million euros (2014). There was also an increase in the number of employ-ees. Compared with 31/12/2014, the num-ber of employees went up by 3.9 percent to reach 23,560.

With regard to the product groups, Kion witnessed growth in new business in the first three quarters of 2015 compared with the same period in 2014, increasing by 9.9 per-cent to reach 1,971.2 million euros; in servic-es there was a 6.8 percent increase, reaching 1,686 million euros. Considering the corpo-

ration’s revenues in terms of each segment, then Linde Material Handling grew by 10.1 percent to 2,463 million; Still grew by 7.4 percent to 1,416.5 million and the Financial Services grew by 22.3 percent to 522,3 mil-lion euros. The only downturn occurred in the segment ‘other’ with modest declines of 0.5 percent to 176.1 million euros.

In 2015, the brand Still was once again successful for Kion at the IFOY Award. Both for the eight-tonne electric forklift truck RX 60-80 in the category ‘Counter Balanced Trucks 3.51 tonnes and heavier’ as well as for the general entrepreneurial project for the intralogisics of the new raw materials ware-house Kuraray Europe GmbH in the cate-gory ‘Intralogistics Solutions’, Still brought home a trophy. u www.kiongroup.com

3. Jungheinrich, Germany

Once again, Jungheinrich reports its best annual turnover result thus far. The cor-poration had seen its revenues increase in reporting year 2014 by 9 percent over the previous year from 2,290 to 2,498 million euros. With these results, Jungheinrich held onto third place in the World Ranking. The net result also increased, rising from 107 million (2013) to 126 million euros (2014).

European sales accounted for 91 percent of Jungheinrich’s corporate turnover (down from 92 percent in the previous year). The relative growth in turnover compared with the previous year was stronger in Eastern Europe than in Western Europe. Revenues in Germany increased by 7 percent, reach-ing 655 million euros (up from 613 mil-lion euros in the previous year) and export turnover rose by 10 percent, reaching 1,843 million euros (up from 1,677 million in the previous year). This represents an increase in international turnover as a share of the total business from 73 percent to 74 percent. In terms of revenue from outside of Europe, Jungheinrich reports clear gains with 229 million euros, a 24 percent increase com-pared with the previous year (184 million euros). The disproportionate 33 percent growth in China was also a contributing factor to the overall success. Non-Europe-an revenues as a share of the corporation’s turnover reached 9 percent (up from 8 per-cent in the previous year).

In terms of value, incoming orders across all business areas (new business, rentals and

used machines as well as customer service) were at 2,535 million euros in 2014, up 8 percent from the year before (2,357 million euros). This growth is based fundamentally on the strength of incoming orders in new business. In terms of quantity, the company witnessed an uptick in incoming orders in new business, rising to 9 percent (up from 7 percent in the previous year), reaching 85,600 units (up from 78,200 in the pre-vious year). Production numbers reached 83,500, a 15 percent increase over the pre-vious year (72,500), thus exceeding for the first time the previous peak value reached by the company in 2007 prior to the global financial crisis (82,400).

Expenditures in research and develop-ment also increased again. After investing 45 million euros in this area in 2013, Jun-gheinrich invested 12 percent more (50 mil-lion euros) in reporting year 2014.

Also in terms of EBIT, Jungheinrich achieved its best results ever. The compa-ny showed 12 percent growth, reaching 193 million euros (172 million in the the pre-vious year). Here, a non-recurring factor should be noted; namely, the adjustment of the Dutch pension scheme in the amount of 6.7 million euros. Jungheinrich expanded its personnel by 709, reaching 12,549 em-ployees (as of 31 December 2014), expand-ing primarily in distribution companies in Europe and Asia as well as in the logistics systems business. The company employed a total of 6,911 workers outside of Germany (6,484 in the year before) and 5,638 inside Germany (5,356 previous year).

Speaking at the presentation of the re-sults for financial year 2014, Jungheinrich AG’s CEO Hans-Georg Frey emphasised that with the strong performance in the previ-ous financial year, the company had made a significant step toward its turnover goal of 3 billion euros in 2017. Furthermore, or-ders in the first two months of 2015 suggest that this will be another successful year for Jungheinrich.

The company confirms this with its in-terim report of 30 September 2015. Incom-ing orders, amount to 2,089 million euros, is up 11 percent above the numbers for the same period in the previous year (2014: 1,874 million euros). In terms of revenues, the corporation witnessed 10 percent growth and achieved a cumulative result of 1,965 million euros (Q3 2014: 1,792 million eu-

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* G (Profit), V (Loss), U (Unknown)

Rank Manufacturer Year Industrial Truck Sales Total Corporation Sales Profit/ Employees Manufacturer Mio. EUR Mio. Valuta Mio. EUR Mio. Valuta Loss* Tot.Corp. Ind.Trucks

2014/15 6.592 924.900 JPY 15.442 2.166.661 JPY G 52.523 24.551 Toyota Industries Corp. 2013/14 5.682 809.276 JPY 14.098 2.007.856 JPY G 49.333 23.453 Japan 2012/13 4.935 596.449 JPY 13.363 1.615.244 JPY G 47.412 23.044 (Toyota Material Handling Group, 2011/12 5.173 566.746 JPY 14.087 1.543.352 JPY G 43.516 19.520 BT, Cesab, Raymond) 2010/11 4.172 490.676 JPY 12.583 1.479.839 JPY G 40.825 17.974 FY: 1.4. - 31.3.

2014 4.678 4.678 EUR 4.678 4.678 EUR G 22.669 22.669 Kion 2013 4.495 4.495 EUR 4.495 4.495 EUR G 22.273 22.273 Germany 2012 4.560 4.560 EUR 4.560 4.560 EUR G 21.215 21.215 (Linde, Still, Fenwick, OM Still, 2011 4.368 4.368 EUR 4.368 4.368 EUR V 21.862 21.862 Baoli, Kion India) 2010 3.534 3.534 EUR 3.534 3.534 EUR V 19.968 19.968 FY = Calendar Year

2014 2.498 2.498 EUR 2.498 2.498 EUR G 12.549 12.549 Jungheinrich 2013 2.290 2.290 EUR 2.290 2.290 EUR G 11.840 11.840 Germany 2012 2.270 2.270 EUR 2.270 2.270 EUR G 11.261 11.261 2011 1.922 1.922 EUR 2.116 2.116 EUR G 10.711 10.711 2010 1.653 1.653 EUR 1.816 1.816 EUR G 10.138 10.138 FY = Calendar Year

2014 2.083 2.767 USD 2.083 2.767 USD G 5.400 5.400 Hyster-Yale 2013 1.934 2.666 USD 1.934 2.666 USD G 5.100 5.100 Materials Handling 2012 1.871 2.469 USD 1.871 2.469 USD G 5.300 5.300 USA 2011 1.919 2.541 USD 2.511 3.331 USD G 9.300 5.300 (Yale, Hyster, Utilev) 2010 1.349 1.802 USD 2.011 2.688 USD G 8.900 5.000 FY = Calendar Year

2014/15 1.882 2.500 USD 1.882 2.500 USD G 12.000 12.000 Crown Equipment 2013/14 1.741 2.400 USD 1.741 2.400 USD G 10.700 10.700 Corporation 2012/13 1.718 2.200 USD 1.718 2.200 USD G 10.100 10.100 USA 2011/12 1.572 2.100 USD 1.588 2.121 USD G 9.400 9.400 2010/11 1.267 1.800 USD 1.280 1.818 USD G 8.400 8.400 FY: 1.4. - 31.3.

2014/15 1.855 260.237 JPY 1.855 260.237 JPY G 5.522 5.522 Mitsubishi Nichiyu Forklift 2013/14 1.484 211.351 JPY 24.158 3.440.582 JPY G 80.583 5.409 Japan 2012/13 1.023 123.650 JPY 23.313 2.817.800 JPY G 68.213 2.309 Mitsubishi Nichiyu Forklift, 2011/12 1.042 114.162 JPY 25.748 2.820.900 JPY G 68.887 Mitsubishi Caterpillar Forklift, Rocla 2010/11 928 109.142 JPY 24.690 2.903.770 JPY G 68.816 FY: 1.4. - 31.3.

2014 1.487 1.487 EUR 3.358 3.358 EUR G 10.703 5.219 Cargotec 2013 1.550 1.550 EUR 3.181 3.181 EUR G 10.610 5.269 Finland 2012 1.422 1.422 EUR 3.327 3.327 EUR G 10.294 5.067 (Kalmar) 2011 1.020 1.020 EUR 3.139 3.139 EUR G 10.928 2.612 2010 1.020 1.020 EUR 2.575 2.575 EUR G 9.832 2.000 FY = Calendar Year

2014/15 1.326 186.051 JPY 1.326 186.051 JPY G 5.536 5.536 UniCarriers 2013/14 1.230 175.205 JPY 1.230 175.205 JPY G 5.208 5.208 Japan 2012/13 1.200 145.044 JPY 1.200 145.044 JPY U 4.890 4.890 (Nissan, TCM, Atlet) 2011/12 2010/11 FY: 1.4. - 31.3.

2014 1.039 1.039 EUR 1.246 1.246 EUR G 3.300 Manitou 2013 934 934 EUR 1.176 1.176 EUR G 3.242 1.845 France 2012 1.020 1.020 EUR 1.265 1.265 EUR G 3.219 2.500 2011 925 925 EUR 1.131 1.131 EUR G 3.061 2010 697 697 EUR 838 838 EUR G 2.778 FY = Calendar Year

2014 812 6.648 CNY 812 6.648 CNY G 7.800 5.000 Anhui Heli 2013 790 6.602 CNY 790 6.602 CNY G 7.488 7.075 VR China 2012 746 6.135 CNY G 5.844 2011 782 6.377 CNY G 6.279 2010 576 5.084 CNY G 6.200 5.000 FY = Calendar Year

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2014 735 6.020 CNY 1.268 10.379 CNY G 2.412 1.063 Hangcha Group 2013 729 6.087 CNY 1.237 10.335 CNY G 2.118 1.074 VR China 2012 643 5.287 CNY 1.119 9.201 CNY G 2.195 1.079 2011 681 5.554 CNY 1.023 8.342 CNY G 2.230 1.800 2010 521 4.593 CNY 806 7.110 CNY G 2.051 2.051 FY = Calendar Year

2014/15 604 84.687 JPY 14.102 1.978.676 JPY G 47.417 Komatsu 2013/14 604 85.961 JPY 13.718 1.953.657 JPY G 47.208 Japan 2012/13 650 78.600 JPY 15.594 1.884.900 JPY G 46.000 2011/12 761 83.365 JPY 18.088 1.981.763 JPY G 44.206 2010/11 680 79.990 JPY 15.672 1.843.127 JPY G 41.059 3.119 FY: 1.4. - 31.3.

2014 533 745.113 KRW 1.773 2.478.730 KRW G 13.200 1.500 Clark 2013 514 747.011 KRW 1.741 2.532.000 KRW G 13.000 1.500 South Korea 2012 516 725.810 KRW 1.899 2.669.829 KRW G 13.000 1.500 2011 523 783.655 KRW 1.919 2.875.330 KRW G 13.000 1.500 2010 427 639.472 KRW 1.426 2.137.187 KRW G 11.000 1.300 FY = Calendar Year

2014 427 596.722 KRW 14.640 20.468.238 KRW G 41.700 800 Doosan Corporation 2013 486 706.770 KRW 17.000 24.722.420 KRW G 43.000 800 Industrial Vehicle 2012 470 660.928 KRW 17.365 24.407.054 KRW G 850 South Korea 2011 476 713.376 KRW 5.647 8.463.086 KRW G 14.376 800 2010 322 482.697 KRW 4.991 7.481.919 KRW G 14.000 750 FY = Calendar Year

2014 340 475.580 KRW 37.609 52.582.404 KRW V 28.291 420 Hyundai Heavy Industries 2013 249 361.927 KRW 37.260 54.186.086 KRW G 26.013 South Korea 2012 373 524.267 KRW 38.900 54.702.185 KRW G 25.439 258 2011 277 414.845 KRW 35.839 53.711.666 KRW G 24.948 2010 179 267.642 KRW 24.911 37.342.404 KRW G 24.222 550 FY = Calendar Year

2014 287 287 EUR 353 353 EUR G 1.012 729 Merlo 2013 318 318 EUR 372 372 EUR U 1.017 729 Italy 2012 343 343 EUR 404 404 EUR U 1.034 750 2011 311 311 EUR 380 380 EUR U 1.038 737 2010 243 243 EUR 287 287 EUR U 950 664 FY = Calendar Year

2014 273 10.993 TWD TWD G 1.800 1.500 Tailift Group 2013 140 5.781 TWD 174 7.185 TWD G 1.500 600 Republic of China 2012 148 5.676 TWD 174 6.673 TWD G 1.350 550 (Tailift, Artison, ASW, GCPower) 2011 123 4.797 TWD 205 7.995 TWD G 1.450 600 2010 84 3.233 TWD 123 4.733 TWD G 1.200 FY = Calendar Year

2013/14 148 148 EUR 148 148 EUR G 330 330 Combilift 2012/13 130 130 EUR 130 130 EUR G 300 300 Ireland 2011/12 110 110 EUR 110 110 EUR G 250 250 2010/11 92 92 EUR 92 92 EUR G 210 210 2009/10 82 82 EUR 82 82 EUR G 170 170 FY: 1.9. - 31.8.

2014 147 147 EUR 2.011 2.011 EUR G 11.982 180 Konecranes 2013 130 130 EUR 2.100 2.100 EUR G 11.832 163 Finland 2012 138 138 EUR 2.170 2.170 EUR G 11.917 155 2011 124 124 EUR 1.896 1.896 EUR G 11.651 133 2010 91 91 EUR 1.546 1.546 EUR G 10.042 112 FY = Calendar Year

2014 145 1.187 CNY 200 1.637 CNY G 1.550 900 EP Equipment 2013 146 1.220 CNY 205 1.713 CNY G 1.550 850 VR China 2012 115 945 CNY 173 1.422 CNY U 1.500 800 2011 120 979 CNY 180 1.469 CNY G 1.500 800 2010 95 838 CNY 125 1.103 CNY U 1.500 800 FY = Calendar Year

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2014 140 1.143 CNY 907 7.427 CNY G 6.970 Lonking Machinery 2013 118 983 CNY 976 8.158 CNY G 7.619 VR China FY = Calendar Year

2014 102 832 CNY 248 2.033 CNY G 1.200 500 Zhejiang Maximal Forklift 2013 88 734 CNY 218 1.819 CNY G 2.000 650 VR China 2012 66 540 CNY 205 1.682 CNY G 2.000 650 2011 53 430 CNY G 1.800 600 2010 41 360 CNY G 1.600 500 FY = Calendar Year

2014 75 75 EUR 90 90 EUR U 550 400 Hubtex 2013 76 76 EUR 93 93 EUR G 493 373 Germany 2012 75 75 EUR 92 92 EUR G 480 335 (Hubtex, Genkinger-Hubtex) 2011 59 59 EUR 75 75 EUR G 450 309 2010 53 53 EUR 66 66 EUR G 500 360 FY = Calendar Year

2014/15 49 3.982 INR 1.016 82.300 INR U 14.678 1.025 Godrej & Boyce 2013/14 45 3.745 INR 941 77.731 INR G 13.102 907 India 2012/13 54 3.721 INR 924 64.310 INR G 15.732 1.269 2011/12 51 3.494 INR 913 62.130 INR G 13.345 1.081 2010/11 48 3.040 INR 867 54.911 INR G 13.151 1.012 FY: 1.4. - 31.3.

2014 49 152 BRL 53 166 BRL G 452 382 Paletrans 2013 43 138 BRL 49 157 BRL G 450 414 Brazil 2012 44 120 BRL 47 128 BRL G 387 356 2011 45 109 BRL 56 135 BRL G 401 295 2010 46 101 BRL 61 136 BRL G 421 338 FY = Calendar Year

2013/14 46 416 SEK 57 519 SEK U 189 170 Svetruck 2012/13 54 472 SEK 58 503 SEK G 197 178 Sweden 2011/12 55 458 SEK 59 492 SEK G 210 187 2010/11 54 495 SEK 57 526 SEK G 219 193 2009/10 54 507 SEK 57 535 SEK V 233 207 FY: 1.9. - 31.8.

2014 28 28 EUR 157 157 EUR G 602 120 PR Industrial 2013 23 23 EUR 175 175 EUR G 680 110 Italy 2012 2011 26 26 EUR 256 256 EUR V 816 94 2010 24 24 EUR 235 235 EUR V 859 95 FY = Calendar Year

2014 28 28 EUR 28 28 EUR G 84 84 Baumann 2013 26 26 EUR 26 26 EUR G 80 80 Italy 2012 25 25 EUR 25 25 EUR G 78 78 2011 23 23 EUR 23 23 EUR G 74 74 2010 18 18 EUR 18 18 EUR G 67 67 FY = Calendar Year

2014 25 30 CHF 88 107 CHF G 454 60 Stöcklin 2013 24 29 CHF 93 114 CHF G 460 60 Switzerland 2012 25 30 CHF 75 90 CHF G 480 60 2011 24 30 CHF 78 95 CHF G 500 60 2010 23 29 CHF 90 113 CHF G 510 61 FY = Calendar Year

2014 13 13 EUR 13 13 EUR U 60 60 Magaziner 2013 13 13 EUR 13 13 EUR G 60 60 Germany 2012 12 12 EUR 12 12 EUR G 60 60 2011 12 12 EUR 12 12 EUR G 60 60 2010 11 11 EUR 11 11 EUR G 60 60 FY = Calendar Year

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Anual average exchange rates oft he European Central Bank

Country Brazil India Japan Sweden Switzerland South Korea Taiwan USA VR ChinaYear BRL INR JPY SEK CHF KRW TWD USD CNY

2014 3,121100 81,040600 140,310000 9,098500 1,214600 1398,140000 40,268400 1,328500 8,185700

2013 3,220800 82,578400 142,420000 8,750300 1,225900 1454,260000 41,294300 1,378300 1) 1,378800 2) 8,355500

2012 2,703600 69,566000 120,870000 8,336200 1,207200 1406,230000 38,349300 1,319400 1,280500 8,220700

2011 2,415900 68,042000 109,560000 9,164000 1,215600 1498,690000 38,998000 1,323900 1,335600 8,158800

2010 2,217700 63,345000 117,610000 9,389000 1,250400 1499,060000 38,482400 1,336200 1,420700 8,822000

2009 2,511300 60,514000 125,930000 10,219100 1,483600 1666,970000 46,204100 1,440600 1,347900 9,835000

2008 3,243600 68,909730 131,170000 9,438100 1,485000 1839,130000 46,266840 1,391700 1,330800 9,495600

2008 to 2013: Average Exchange rates of the European Central Bank based on 1 EUR, to the end of each fiscal year, USA 1) at the time 31.12., 2) at the time 31.03.

Conversion Table for the World Ranking List 2014/2015

2014 11 11 EUR 11 11 EUR G 90 90 Miag 2013 11 11 EUR 11 11 EUR G 90 90 Germany 2012 11 11 EUR 11 11 EUR G 90 90 2011 11 11 EUR 11 11 EUR G 90 90 2010 11 11 EUR 11 11 EUR G 90 90 FY = Calendar Year

The Table on the Internet: www.dhf-magazin.com

Now according to average exchange rates In response to the euro’s steep decline in quarter one of 2015, the editors now convert the currencies shown in the dhf World Ranking into euros according to the average exchange rate for each calendar year. This enables a more realistic assess-ment of company results even in case of significant rate fluctuations. Plus, the listing of turnovers in terms of each national currency is also a unique feature of the dhf World Ranking!

Currency conversion

10 World ranking for industrial trucks


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ros). The order backlog amounting to 526 million euros is also clearly (16 percent) above that for the same period in the previ-ous year. After tax, the corporation reports results for the first through the third quar-ters of 2015 amounting to 98.6 million euros (year before: 87 million euros), represent-ing an increase of 13 percent. Expenditures for research and development also went up, rising from 36 million to 40 million euros (12 percent) along with the number of em-ployees, which rose from 12,448 to 13,237.

Jungheinrich is once again among the winners at the IFOY Award 2015. The elec-tric four-wheel stacker EFG S30s won the prize in the category ‘Counterbalance lift trucks up to 3.5 tonnes’, impressing the jury above all with the technology concept of Pure Energy. u www.jungheinrich.de

4. Hyster-Yale Materials Handling, USA

Hyster-Yale Materials Handling, Inc. once again booked an increase in turnover, de-fending its place at number 4 on the World Ranking. In 2014, the company (previously listed in the World Ranking under the name Nacco Materials Handling Group, Inc.) re-corded growth of 3.8 percent, reaching 2,767 million US dollars (2013: 2,666 million US dollars). In euros, this equates to an increase from 1,934 million to 2,083 million, i.e. a 7.7 percent rise.

The group’s net income in 2014 amounts to 110 million USD, as in the year before. Due to fluctuations in the exchange rate, the growth in euros amounts to 83 million, compared to 80 million in the previous year. In any case, Hyster-Yale also points to the fact that its net profits in 2014 include be-fore-tax profits in the amount of 17.7 mil-lion USD from the sale of properties and facilities in Brazil. With regard to the sold units, the company reports an increase from 85,500 (2013) to 87,600 (2014). Also the number of employees rose once again in the reporting year following a cutback in 2013 and, at 5,400 workers, exceeds the levels of the last five years.

In comparing the corporate net sales listed in the World Ranking, it should be noted that up until 2011 these refer to Nac-co Industries, Inc., including all its divisions and therefore these are greater than the rev-enues from the area of industrial trucks. Similarly to the previous year, 67.47 per-

cent of Hyster-Yale’s turnover came from America, while 24.8 percent came from the EMEA economic region (Europe, Middle East and Africa) and 7.73 percent came from the Asian-Pacific region.

Under the forklift truck brand Utilev, the company offers a low-cost alternative for applications in which the operator does not require any special features or accessories.

At the end of 2014, Nacco Materials Handling Group, Inc. acquired Nuvera Fuel Cells, Inc., of Billerica, Massachusetts, a lead-ing manufacturer of hydrogen and fuel cells, enabling Hyster and Yale to offer industri-al trucks with alternative energy solutions from within its own corporation.

In the first nine months of financial year 2015, Hyster-Yale showed a decline in turn-over compared with the same period in 2014, dropping from 2.1 billion USD to 1.9 billion, a 9.5 percent decrease. Also the group’s con-solidated net income decreased, from 83.4 billion to 57.5 billion USD (a 31 percent drop). A contributing factor for this develop-ment was the loss incurred, as expected, from Nuvera Fuel Cells. On the other hand, the number of deliveries by the company rose significantly in Q3 2015, reaching 22,415 in contrast to 21,721 units in the same period in 2014. u www.hyster-yale.com

5. Crown Equipment Corp., USA

Crown Equipment Corporation shows the fifth increase in turnover in a row since the crisis years 2009-2010. In financial year 2014-2015 (April to March), Crown in-creased its net sales from 2,400 million to 2,500 million USD, representing a 4.2 per-cent increase. In euros, the World Ranking’s official currency, the net turnover increased due to the exchange rate from 1,741 million to 1,882 million (8.1 percent). The number of employees worldwide was 12,000 at the end of the financial year (up from 10,700 the previous year). In 2014-2015, Crown profited from the positive developments in the industrial trucks segment in the EMEA economic region (Europe, Middle East and Africa). By its own account, the corporation kept pace with the market growth and fur-thermore exceeded it in Germany and in its European core markets, where Crown also expected stable market development.

The corporation, headquartered in New Bremen, Ohio, operates regional plants in

Germany, Australia, China and Singapore. On top of this, there is the global distribu-tion and service network with over 500 loca-tions in more than 80 countries. The product range of the fourth-generation family com-pany consists mainly of battery-powered industrial trucks. It extends from low- and high-lift trucks to order pickers and tow trac-tors, to electric counterbalanced rider trucks as well as reach trucks and high rack stack-ers. With the goal of reaching new markets, Crown expanded its range of counterbalance lift trucks in May 2015 to include an internal combustion motored model and it released an LPG-powered forklift truck throughout the European market.

The company, which still holds onto fifth place in the World Ranking, was recognised at the end of 2014 for its semi-automatic picker system Quick Pick Remote, receiving the ‘German Design Award 2015’ in the cat-egory ‘Industry, Materials, and Health Care’. The German Council for Design thus hon-oured the company’s design achievement, which combines a horizontal order picker with a remote control that is integrated into a work glove. u www.crown.com

6. Mitsubishi Nichiyu Forklift, Japan

Because the industrial truck activities of Mit-subishi Heavy Industries have been com-bined with those of Nippon Yusoki, we now list them on the World Ranking as the new company, Mitsubishi Nichiyu Forklift Co., Ltd. To enable comparisons with the pre-vious year, we have adjusted the data in the current list for the company-wide net sales for financial year 2013-2014, which in the last World Ranking still referred only to Mitsubishi Heavy Industries. The values of the financial years up to 2012-2013 are no longer published.

In financial year 2014-2015, Mitsubi-shi Nichiyu Forklift increased is net sales to 260,237 million yen, representing a 26.5 percent increase (2013-2014: 205,804 million yen). In euros, the official currency of the World Ranking, we calculated an increase from 1,445 million to 1,855 million, which represents an even clearer increase of 28.4 percent. Factors for this growth, according to Mitsubishi Nichiyu Forklift in its busi-ness report, include the positive effects of a weaker yen. Had we already applied the average exchange rate for the calendar year

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to financial year 2013-2014 (i.e., 129.66 yen per 1 euro), then Mitsubishi Nichiyu Fork-lift would have reached a net turnover for 2013-2014 amounting to 1,587 million eu-ros, meaning that the increase compared to the current reporting year would have come to about 17 percent. This example makes clear that the use of an average exchange rate makes for more modest fluctuations in the converted euro values.

Net income grew even more strongly than turnover, showing a 72 percent increase from 2,608 million (2013-2014) to 4,480 mil-lion yen (2014-2015). In euros, an increase from 18 million to 32 million (78 percent) was achieved.

The portion of turnover originating on the domestic market accounts sank in the reporting year to 29 percent (down from 37.3 percent in the previous year). Accordingly, turnover on the export markets rose to 71 percent due to stronger sales primarily in the USA and in China. As of 31/03/2015, the corporation employed 5,522 workers in the industrial trucks segment (up from 5,409 in 2013-2014). It delivered 58,186 units in the reporting year. With the buyout of Unicar-riers by Mitsubishi Heavy Industries (65 percent of shares) and Mitsubishi Nichi-yu Forklift (35 percent), the companies are striving toward a position as global mar-ket leader. The acquisition price according to news agency Bloomberg was 110 billion yen. The brands will remain unchanged. Details of the timeline for the takeover are still unknown as the time of publication. u www.nmf.co.jp

7. Cargotec Corporation, Finland

In financial year 2014, the Cargotec Group, Finland, made up for its losses in the pre-vious year, increasing net sales from 3,181 million to 3,358 million euros (5.6 percent), thus achieving its highest sales results since 2008. Notably, the company also increased its net income from 55 million to 72 million euros (a 31 percent increase). At Kalmar, an industrial truck manufacturer belonging to the Cargotec Group, turnover decreased after a period of non-stop growth that had started in 2009. In the reporting year, Kal-mar‘s sales decreased by 4.1 percent from 1,550 million (2013) to 1,487 million euros. The incoming orders on the other hand rose from 1,429.8 million (2013) to 1,482.3 mil-

lion euros (2014), representing a 3.7 per-cent increase.

In terms of industrial trucks, Kalmar supplies, among others, empty container handler, reach stackers, straddle carriers, terminal tractors as well as shuttle carriers. Its business activities extend to more than 100 countries with employees in 33 of these.

The number of employees compa-ny-wide rose as of 31/12/2014 from 10,610 (2013) to 10,703, but at Kalmar the number of workers decreased from 5,269 (2013) to 5,219. In terms of markets, EMEA accounts for 43 percent of Cargotec’s turnover (47 percent of Kalmar’s); Asia-Pacific for 30 percent (19 percent of Kalmar’s); and Amer-ica for 27 percent (34 percent of Kalmar’s).

In the first nine months of 2015, Cargo-tec’s turnover rose, compared to the previ-ous year, by 15 percent to 2,753 million eu-ros; net income rose to 107.4 million euros (compared to 31.4 million euros the previous year). A factor for the growth in the current financial year might be the complete take-over of China Crane Investment Holdings Ltd. u www.cargotec.com

8. Unicarriers Corporation, Japan

Unicarriers Corporation increased its net turnover in financial year 2014-2015 (April to March) from 175,205 to 186,051 million yen (6.2 percent). Thus the company, which since April 2013 combines the brands Nis-san Forklift, TCM and Atlet under one roof, also shows growth in the second year after its incorporation. In terms of euros, the turno-ver climbed from 1,230 million (2013/2014) to 1,326 million (2014-2015). Under the in-fluence of the exchange rate, this equates to 7.8 percent. Without disclosing the amounts, Unicarriers reports making a profit once again. In turn, the number of employees has also grown, rising from 5,208 to 5,536.

Unicarriers, headquartered in Tokyo, manufactures industrial trucks with load capacities of 350 to 10,000 kilogram. Their range extends from electric, diesel and LPG-powered counterbalance forklift trucks, to reach trucks, to electric low-lift trucks and order pickers. The company, which sells its product via direct distribution and through specialised dealers, has subsidiary branch-es in Europe, America and Asia as well as production facilities in Sweden, Spain, Ja-pan, China and the USA. Unicarriers’ Eu-

ropean plant relocated in April 2015 from Meerbusch, Germany to Mölnlycke, Sweden.

In 2015, their narrow-aisle stacker and reach truck Tergo URS won the Internation-al Forklift Truck of the Year (IFOY) Award.

The owners of Unicarriers complete-ly sold off their shares in the company to Mitsubishi Heavy Industries and Mitsub-ishi Nichiyu Forklift (see also Mitsubishi Nichiyu Forklift). The brands remain un-changed. Details of the timeline for the take-over are unknown as of the date of publica-tion. u www.unicarriers.co.jp/en

9. Manitou, France

After a drop in financial year 2013 to 934 million euros (2012: 1020 million euros), Manitou returned to the path of growth in the area of industrial trucks, raising its net sales by around 11 percent, reaching 1 039,7 million euros (2015). Compared to this, there were positive developments in the compa-ny as a whole, which, also after a decrease, showed growth from 1,176 million (2013) to 1,246 million euro (2014), an increase of 6 percent. The conglomerate’s net profits reached 30 million euros in 2014 after hav-ing fallen from 45.4 million in 2012 to 0.7 million in 2013 due, according to Manitou, to an increasingly competitive environment and the resulting pressure on the margins.

Manitou Group, which was founded in 1958, employs 3,300 employees as of 2014, up slightly from 3,242 the year before. It’s production is based in its headquarters’ loca-tion in Ancenis, France as well as seven other locations in France, Italy and the USA. The corporation is home to five brands: Mani-tou, Gehl, Mustang, Loc and Edge.

Manitou has renamed its business di-visions. Up until now the revenues for the World Ranking were reported from the IMH division (Industrial Material Handling) and the RTH division (Rough Terrain Handling); now they come from the Material Handling and Access Division (MHA) and from the Compact Equipment Products Division (CEP). The MHA division (2014 turnover: 799.8 million euros) contains, among oth-ers, internal combustion motored and elec-tric-powered forklift trucks, telescope lift trucks, telescope loaders, all-terrain fork-lift trucks, electric high- and low-lift trucks and aerial work platforms; the division CEP (2014 turnover: 239.9 million euros) includes

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telescope lift trucks, wheel loaders and com-pact excavators.

With regard to financial year 2015, Man-itou Group predicts a revenue increase in the amount of 3 percent. At any rate, the MHA division is showing a decrease in the first nine months from 607 million to 594 mil-lion euros (-2 percent). The other divisions within the corporation show growth, for ex-ample, CEP from 177 million to 195 million (10 percent). u www.manitou-group.com

10. Anhui Heli, People’s Republic of China

After revenue losses in 2012 and strong growth in 2013, Anhui Heli Co., Ltd. shows further, albeit moderate growth in the re-porting year. By its own account, it is the largest Chinese manufacturer of industrial trucks and in financial year 2014 it brought in net sales of 6,648 million Chinese renmin-bi (CNY), representing a 0.7 percent increase compared with 2013 (6,602 CNY). Net sales in euros also increased, rising from 790 to 812 million (2.8 percent). Net profits are up in 2014, with 569 million CNY, compared to 502 million in 2013 (a 13.4 percent increase); in euros, net income rose from 60 million in 2013 to 70 million in 2014, an increase of 16.7 percent. At the same time, the number of units sold increased from 79,281 to 82,783. The company also increased its investments in research and development, which com-prised 4.3 percent of the turnover in 2014.

This success is owed to a retail network spanning over 80 countries, with which Heli distributes its products in over 150 countries and regions. Based in Hefei in Anhui prov-ince, Heli manufactures a range of prod-ucts that includes internal counterbalanced combustion trucks, electric counterbalanced rider trucks, electric warehouse rider trucks, tow tractors, side stackers, platform trucks, reach stackers and empty container handler.

We queried Heli regarding the number of employees, to which they responded, re-porting an increase from 7,488 to 7,800 for the company as a whole, with a decrease in the industrial trucks segment from 7,075 to 5,000. u www.helichina.com

11. Hangcha Group, People’s Republic of China

Following stronger growth in financial year 2013, Hangcha Group Company Ltd., based in Hangzhou City in Zhejiang province has

succeeded once again in 2014 at increasing total turnover, albeit more moderately this time, with a 0.4 percent rise from 10,335 million to 10,379 million CNY. In euros, al-lowing for the adjusted exchange rate, this equates to an increase from 1,237 million to 1,268 million, (2.5 percent). In the industri-al trucks segment, a slight decrease can be observed. Net sales sank from 6,087 million (2013) to 6,020 million CNY (2014), a de-crease of 1.1 percent, although in euros this converts to a modest increase of 0.8 percent (729 million in 2013, up to 735 million in 2014). For the first time since 2010, Hangcha is now reporting its company net income, which are 4,377 million CNY (equivalent to 535 million euros). The number of industri-al trucks sold is reported by the company to be 77,567. The company reports that it em-ploys 1,063 workers in the industrial trucks segment (compared to 1,074 in 2013) and 2,412 in the company as a whole compared to 2,118 in 2013.

Hangcha Group Company is one of Chi-na’s top 500 corporate groups and one of the country’s leading manufacturers of indus-trial trucks. Their broad range of products includes combustion and electrically pow-ered forklifts, reach stackers, lift trucks, tow tractors, side loaders, electric warehouse rider trucks and empty container handler. Hangcha has a network of over 60 distribu-tion and service companies, 140 domestic retailers and 70 export agents.

u www.hcforklift.com

12. Komatsu Ltd., Japan

Komatsu Ltd. of Tokyo grew its net sales company wide in the reporting year by 1.1 percent from 1,953,657 million JPY (2013-2014) to 1,978,676 million JPY (2014-2015). In euros, the increase is even slightly strong-er at 2.8 percent (2013-2014: 13,718 million euros; 2014-2015: 14,102 million euros). The industrial trucks division alone experienced a decline in turnover from 85,961 to 84,687 million JPY, a fall of 1.5 percent. Fluctuations in the exchange rate did not change the val-ue in euros. As in the year before, Komatsu ends up at 604 million euros. In terms of the net income, the company reports a decline from 159,518 million (2013-2014) to 154,009 million JPY (2014-2015), which represents a decrease of 3.5 percent. In euros, the net income sank from 1,120 to 1,098 million (-2

percent). At the end of the reporting year, Komatsu had 47,417 employees (up from 47,208 the year before).

According to the Komatsu Report, the company predicts a decrease in 2015 to 1,880,000 million yen in net sales (-5 per-cent) along with a decrease in net income to 138,000 million yen (-10.4 percent). At the end of Q2 of financial year 2015-2016, (30 September, 2015), net turnover was 5.3 percent below that of the same period from the previous year while net income was 16.5 percent lower.

The Komatsu Group’s product port-folio focuses on construction machinery. This includes excavators of many different descriptions, wheel loaders, bulldozers and dump trucks. In addition to forklift trucks and construction machinery, Komatsu man-ufactures industrial robots, compressors, forest machinery and generators. In Hano-ver, their German headquarters, subsidiary Komatsu Hanomag GmbH develops and produces wheel loaders and mobile exca-vators. u www.komatsu.com

13. Clark, South Korea

In financial year 2014, which corresponds to the calendar year, decreases were reported by Clark Material Handling International of Bucheon, South Korea, as well as by its parent company Young An Group, also of South Korea, to which Clark has belonged since 2003. As such, the net sales of the com-pany sank from 2,532,000 to 2,478,730 mil-lion South Korean won (KRW), representing a 2.1 percent decrease. In euros, a favoura-ble exchange rate results in an increase from 1,741 million to 1,773 million. In reporting year 2013, exchange rate fluctuations had the opposite effect. This is further proof that it makes sense for the World Ranking to con-vert based on annual average exchange rates. The number of employees in the industrial trucks division has been around 1,500 for years; in total, it rose by 200 for a total of 13,200 employees company-wide.

The company’s product range is very di-verse. It includes low- and high-lift trucks, reach stackers, counterbalance lift trucks, both electric and combustion-powered, burden carriers and warehouse equipment systems.

By its own account, Clark is the inven-tor of the forklift truck and it is represent-

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ed worldwide by over 500 retailers in 94 countries. The business operations are led from four headquarters around the globe. u www.clarkmheu.com

14. Doosan Corporation, South Korea

The net sales for Doosan Corporation In-dustrial Vehicle decreased in financial year 2014 from 706,770 million to 596,722 mil-lion KRW, representing a decrease of 15.6 percent for the company. In euros, the turn-over fell from 486 million to 427 million, i.e., a 12.1 percent decrease. Also, the net sales of the holding Doosan Corporation shrank by 17.2 percent compared with the year before, falling from 24,722,420 million to 20,468,238 million KRW. In contrast, net income for the Holding rose from 149,688 million to 186,399 million KRW, an increase of 24.5 percent. The result in euros is even clearer. The 30 million euro jump to 133 million represents a 29.1 percent increase. Doosan reports that it employs 41,700 work-ers throughout the group, divided across 38 countries, with 880 working for Doosan Corporation Industrial Vehicle.

Founded in 1896, Doosan claims to be the oldest corporation in Korea. In addition to industrial trucks the company is also ac-tive in the areas of construction machin-ery, energy, water and hydraulic engineer-ing, motors, chemicals and machine tools. Doosan Corporation operates production facilities in Korea, Germany and China and distribution subsidiaries in the USA as well as in Belgium and Great Britain. Doo-san Corporation Industrial Vehicle exports its industrial trucks to over 100 countries. u www.doosan-iv.com

15. Hyundai Heavy Industries, South Korea

Hyundai Heavy Industries reports a slight decrease in financial year 2014 compared to 2013, from 54,186,086 million to 52,582,404 million KRW (-3 percent). In euros this amounts to a growth, due to fluctuations in the exchange rate, from 37,260 million to 37,609 million. In terms of industrial trucks, Hyundai showed strong gains once again in 2014 on the heels of a deep drop in 2013 and the net turnover increased from 361,927 million (2013) to 475,580 million KRW (a 31.4 percent increase), equivalent to rising from 249 million to 340 million euros (a 36.6

percent increase). In any case, the company booked a net loss of 2,206,065 million KRW (equivalent to 1,578 million euros). Hyundai considers this loss to be result of a downturn in the global trade volume in shipbuilding and in the offshore sector, along with un-certainty with regard to global economic development and the financial crisis within the eurozone, plus operational losses within the company due to delayed projects, pro-visions and unfavourable exchange rates.

For financial year 2015, Hyundai is fac-ing another decrease in turnover, but also a slight net loss. The cumulative numbers from the third quarter already point to this when compared with the same period in 2014.

One successful result for Hyundai Heavy Industries is the recognition of the new die-sel forklift truck 30D-9T with the 2014 Good Design Product Award from the Ministry of Trade, Industry and Energy. This is a covet-ed award present by South Korea in the field of industrial design. u http://english.hhi.co.kr

16. Merlo, Italy

The company now known as Merlo S.p.A. Industria Metalmeccanica, founded in 1964 and headquartered in Cervasca, Cuneo, Ita-ly, is an internationally oriented operation. Exports make up 90 percent of its total rev-enues. The global marketing of its prod-ucts takes place through seven branches in France, Germany, England, Spain, Poland and Australia as well as a dense network of 50 importers and over 600 authorised dealers.

Its product portfolio includes a complete series of telescopic stacker trucks, available both in fixed and rotating versions, as well as self-loading concrete mixers, multipur-pose tracked carriers and self-driving work platforms. By its own account, Merlo is the market leader in the field of telescopic stack-er trucks with rotating turrets and in tele-scopic stacker trucks with hydrostatic power. It currently employs over 1,200 employees. In the Italian province Cuneo, the compa-ny has a production floor of over 220,000 square metres in total.

In 2014, Merlo booked losses in net sales compared with 2013, falling from 372 mil-lion to 353 million euros (a loss of 5.1 per-cent) and, with regard to industrial trucks, from 318 million to 287 million euros (-9.7 percent). As early as 2013, lower revenues

were reported than in the previous year. Nonetheless, the company reported, as did Merlo Germany GmbH in Bremen, that it was making a profit. u www.merlo.com

17. Tailift Group, Taiwan

Unlike in previous years, Tailift Co. Ltd. of Taiwan has not released any details with re-gard to the company’s turnover. In the in-dustrial trucks segment, Tailift reports via its German retailer, W. Körner GmbH of Groß Schwülper near Braunschweig exceptional growth from 5,781 million to 10,993 million TWD (a 90 percent increase), equivalent in euros to an increase from 140 million to 273 million (95 percent). Additionally, an increase in the number of employees was reported for the industrial trucks segment from 600 to 1,500 (150 percent); the compa-ny expanded its total number of employees from 1,500 to 1,800. Even Körner, which dis-tributes the industrial trucks for the Tailift brands Tailift, Artison, ASW and GCpow-er in Germany, could not state the reasons for such growth. In response to queries by the editors, Körner emphasises that noth-ing has changed for Tailift in Europe since the takeover.

Tailift Group, which was founded in 1973, also produces sheet metal forming machinery and machine tools as well as en-vironmental technology, meanwhile it is the largest manufacturer of industrial trucks in Taiwan and the third largest industrial truck supplier in the People’s Republic of China.

The company sells its products in over 50 countries. In August 2015, Toyota Ma-terial Handling Group bought out 55 per-cent of Tailift’s industrial trucks division for 10 billion yen. The division manufac-tures products for fast-growing emerging markets. The new consolidated subsidiary of the Japanese parent company operates under the name Tailift Material Handling Taiwan Co. Ltd. Toyota sees the investment as a basis for future increases in revenue in the aforementioned emerging markets. u www.tailift.com.tw

18. Combilift, Ireland

Combilift Ltd., Ireland, is a specialised man-ufacturer of four-way forklift trucks and, by its own account, the world market leader in the area of transporting long goods. In fi-

www.Dhf-magazin.com


nancial year 2013-2014 (September to Au-gust), it once again witnessed a growth in net sales. Compared with 2012-2013, earn-ings grew by 13.9 percent, from 130 million to 148 million euros. At the same time, the company expanded its number of employ-ees by 30 to 330.

Since its founding in 1998, Combilift has sold 25,000 industrial trucks worldwide in more than 75 countries. Factors for the company’s success include a sustained in-vestment in research and development, ac-counting for around 7 percent of annual rev-enues, as well as a global network of dealers. Their range of four-way forklift trucks in-cludes counterbalance, side-load and nar-row-aisle models. Their products include, among others, the articulated narrow-aisle forklifts of the Aisle Master Ltd., which is as-sociated with Combilift, as well as the Com-bi-SC (straddle carrier) for container trans-port and oversized loads.

Starting in August 2015, Combilift is constructing a new, 46,000 square meter production facility at its headquarters in Monaghan, Ireland. The company is invest-ing 40 million euros in a multifunctional operation with research and development centre, specialised testing facilities as well as management buildings. As such, Com-bilift is paving the way for its planned dou-bling of its current turnover of around 150 million by 2020, as well as creating 200 ad-ditional jobs, which are especially needed in the areas of technology and engineering. u www.combilift.com

19. Konecranes, Finland

Net sales for Konecranes Lifttrucks AB (Swe-den) rose from 130 million to 147 million euros (a 13,1 percent increase) in the re-porting year, which corresponds to the cal-endar year. As such, the subsidiary of the Finnish Konecranes Oyj, made up for its decrease of 5.8 percent in the previous year and achieved its best results since the global economic crisis. Net sales for the company, on the other hand, fell for the second year in a row, from 2,100 to 2,011 million eu-ros, representing a decrease of 4.2 percent. Net profits, however, grew strongly from 49 million to 75 million euros (53 percent) fol-lowing a pronounced decline in 2013. There was also a slight increase in the number of employees compared with the previous year,

with the company as a whole now employ-ing 11,982 and Konecranes Lifttrucks itself employing 180.

Konecranes Lifttrucks produces a broad range of industrial trucks, for example, fork-lift trucks, reach stackers and container han-dler. Their maximum load bearing capacities range from 10 to 65 tonnes.

In August 2015, Konecranes Oyj an-nounced its intention of merging with the American machine construction compa-ny Terex Corporation. The reason for this is the heavy competition from emerging countries. The new company will operate under the name Konecranes Terex and will be headquartered in Finland. The merger is expected to be completed in the first half of 2016 as soon as consent has been given by shareholders and competition authorities. u www.konecraneslifttrucks.se

20. EP Equipment, People’s Republic of China

EP Equipment Co.’s Netherlands-based rep-resentatives once again did not supply any data, so we queried the company direct-ly in China. Compared with financial year 2013, EP Equipment faced downturns both for the company as a whole and in the in-dustrial trucks segment. The total net sales sank from 1,713 million to 1,637 million CNY (a decrease of 4.4 percent), equiva-lent to a drop from 205 million to 200 mil-lion euros (-2.4 percent). The earnings in the industrial trucks segment sank in the same period from 1,220 million to 1,187 million CNY (-2.7 percent), equivalent to a decrease rising from 146 million to 145 million euros (-0.7 percent). Despite more modest revenues, EP Equipment reported a net income for the reporting year, how-ever, did not provide specific numbers. The employee count at the company as a whole remains unchanged at 1,550, while their in-dustrial trucks personnel increased by 50, reaching 900. Over the course of five years, the company has experienced growth, de-spite the current setbacks.

Based in Hangzhou in the Chinese prov-ince of Zhejiang, EP identifies itself as a pi-oneer in electric forklift trucks for the Chi-nese market. It manufactures electric coun-terbalanced rider trucks with a load bearing capacity of up to 5 tonnes, as well as internal counterbalanced combustion trucks that can lift up to 16 tonnes. The company also

produces, among others, reach trucks, or-der picker, tow tractors, as well as electric high- and low-lift trucks that are pedestri-an- or rider-operated. u www.ep-ep.com

21. Lonking, People’s Republic of China

The Chinese industrial truck manufactur-er Lonking (Shanghai) Forklift Co. Ltd. is a subsidiary of Lonking Holdings Ltd. (found-ed in 1993), which is one of the largest man-ufacturers of construction machinery in the People‘s Republic of China. This year, they neglected to respond to our question-naire. Therefore, we acquired our data via the Internet. The company’s turnover sank in the reporting year from 8,158 million to 7,427 million CNY, equivalent to a decline in euros from 976 million to 907 million. In the industrial trucks segment, the compa-ny showed an increase from 983 million in 2013 to 1,143 million CNY (16.3 percent), equivalent to a rise from 118 million to 140 million euros (18.6 percent).

In terms of industrial trucks, Lonking produces electric and combustion-motored forklift trucks as well as reach stackers. The company develops and manufactures its own key components, such as transmissions, torque converters, axles and hydraulic com-ponents. u www.lonkinggroup.com

22. Maximal, People’s Republic of China

Zhejiang Maximal Forklift Co. Ltd., a Chi-nese-American company from Hangzhou, China, founded in 2006, sold 9,350 indus-trial trucks in 2014, amounting to a 13.4 percent rise in net sales from 734 million CNY in 2013 to 832 million CNY, equiva-lent to a rise from 88 million to 102 million euros (a 15.9 percent increase). Maximal Forklift is a subsidiary of Zhejiang KNSN Pipe & Pile Co. Ltd., which primarily pro-duces pre-stressed high-strength concrete pipe columns. The entire company booked increases in net sales from 1,819 million to 2,033 million CNY, equivalent to 218 mil-lion to 248 million euros, while also show-ing a pronounced decline in the number of employees. In 2013, the company as a whole employed 2,000 and Maximal 650; by the end of 2014, however, these numbers were at 1,200 and 500.

Maximal Forklift‘s product range in-cludes electric counterbalanced rider trucks,

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reach trucks, high- and low-lift trucks, LPG- and diesel-powered forklift trucks (the lat-ter with load bearing capacities of up to 32 tonnes), as well as container handlers and rough-terrain forklifts. Maximal Forklift’s export volume, not counting crisis year 2009, has grown non-stop since 2007, from 850 to 3,542 units. Maximal exports its industrial trucks in over 100 countries, supported by more than 150 distribution and service bas-es. u www.maxforklift.com

23. Hubtex, Germany

Net earnings for Hubtex (Hubtex Maschi-nenbau GmbH & Co. KG, of Fulda, and Genkinger-Hubtex GmbH of Münsingen, Germany) decreased moderately in 2014 compared with the previous year. The Group also holds shares in Schulte-Henke GmbH (branded as Stabau), based in Meschede, Germany. It’s total turnover sank slightly from 93 million to 90 million euros, a de-crease of 3.2 percent. There were also de-creases in the industrial trucks area from 76 million to 75 million euros (-1.3 percent). The main reason for the decline in reve-nues is the reduction of merchandise in the company’s product portfolio. The number of employees meanwhile has increased due to the expansion of in-house production capacities, rising from 493 to 550 for the company as a whole and from 373 to 400 in the industrial trucks segment.

Hubtex releases no data on either profits or losses. Hubtex develops and produces in-dustrial trucks for long, bulky or heavy loads, mostly designed for the narrowest aisle di-mensions. These include electric multi-direc-tional side loaders, combustion motor-pow-ered four-way side loaders, heavy-duty fork-lifts with load bearing capacities of up to 25 tonnes, reach trucks, order picking systems, glass transporting systems, special-purpose vehicles and heavy-load transport vehicles for loads of up to 260 tonnes.

In the ongoing financial year, Hubtex introduced new picking trucks, such as the Hubtex electric multi-directional side load-er MQ 70 with a load bearing capacity of up to 7,000 kilogram, which is designed for semi-automatic picking of sheet material at lifting heights of up to 10,000 millimeter.

According to a statement made by Hub-tex, the company expects growth in 2015 to exceed 2013 levels, mainly due to the area of

special-purpose vehicles for the aeronautics and automobile industries. Furthermore, there are plans to expand production ca-pacities in 2016. u www.hubtex.de

24. Godrej & Boyce, India

Godrej & Boyce Manufacturing Co. Ltd. continued its growth on into financial year 2014-2015 and raised net sales in the area of material handling equipment from 3,745 million in 2013-2014 to 3,982 million INR, an increase of 6.3 percent. In terms of eu-ros, the earnings rose from 45.35 million to 49.14 million (an 8.4 percent increase). The Godrej Group grew from 77,731 million to 82,300 million INR (5.9 percent), equivalent to a rise from 941 million to 1,016 million euros (an 8 percent increase). The compa-ny did not wish to disclose details this year regarding profits or losses. The number of employees, after cutbacks in 2013-2014, is growing again, rising from 907 to 1,025 (in the material handling equipment segment) and from 13,102 to 14,678 for the compa-ny as a whole.

Godrej & Boyce Manufacturing claims to be India’s largest manufacturer of industrial trucks. Its product range includes electric, diesel and LPG-powered counterbalance forklift trucks, accessory equipment, ware-house equipment, as well as reach trucks, high- and low-lift trucks, also tow tractors, side loaders, telescopic stacker trucks and customized vehicles for specialised appli-cations. The industrial trucks are partially self-manufactured, but some are also pro-duced by manufacturers such as Crown, Hubtex, Komatsu and Merlo. Additional-ly, Godrej Material Handling supplies used equipment. u www.godrej.com

25. Paletrans, Brazil

Paletrans Equipamentos Ltda. of Cravinhos in the Brazilian state of São Paulo showed clear gains in net sales in 2014 compared with 2013. The total turnover of the compa-ny climbed by 5.7 percent from 157 million to 166 million Brazilian real (BRL), equiv-alent in euros to an 8.2 percent rise, from 49 million to 53 million. The growth was even more favourable within the industrial trucks segment alone. In BRL, the company reached an increase from 138 million to 152 million (10.1 percent); equivalent to a rise of

43 million to 49 million euros (14 percent). Paletrans sold 32,798 industrial trucks in this reporting year, earning a profit. The number of employees remained virtually unchanged (452 for the company as a whole), although personnel in the industrial trucks segment sank from 414 to 382. Paletrans in an en-terprise of Grupo Unihold, which is also the parent company of Disktrans (a fork-lift rental company) and Paletrans Carretas. It started in 1981 as a producer of indus-trial trailers for in-house transport, which is now the function of Paletrans Carretas. Paletrans started manufacturing hand pal-let trucks in 1984. Since 2003, the company has been manufacturing electric industri-al trucks which today account for over 50 percent of its revenues. By Paletrans’ own account, it is Brazil’s only manufacturer of electric forklift trucks. It has a production facility 13,000 square meter in size. Its prod-uct range extends from hand pallet trucks and electric trucks trucks to order pickers up to reach trucks. All of its industrial trucks are standard equipment, according to Pale-trans. Customer-made specialised solutions do not exist, it claims. The company distrib-utes its industrial trucks in 18 countries, including markets in the European Union. u www.paletrans.com.br

26. Svetruck, Sweden

Following two years of growth, financial year 2013-2014 (September to August) brought a decrease in turnover for Svetruck AB of Sweden. In euros, net earnings in the in-dustrial trucks segment fell from 54 million to 46 million (-14.8 percent), equivalent to a fall from 472 million to 416 million SEK (-11.9 percent). The company‘s turnover increased meanwhile from 503 million to 520 million SEK. However, contrary to our request, Svetruck provided its numbers in euros rather than in Swedish crowns; thus, the reasons for such growth may be related to exchange rate fluctuations. Notably, the earnings in SEK rose despite a moderate de-crease in terms of euros. The company did not provide any details regarding profits or losses. The number of employees sank for the fifth year in a row, reaching at the end of the financial year 189 for the company as a whole and 170 in the field of indus-trial trucks. The company manufacturers heavy-duty stacker trucks with load bear-

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ing capacities from 10 to 52 tonnes, as well as container handler and timber handling equipment. u www.svetruck.com

27. Pramac, Italy

The Italian company Pramac of Casole d’Elsa (Toscana), operating under the name PR In-dustrial, manufactures the ‘Lifter by Pramac’ brand of industrial trucks as well as power generators and is also involved in motor sports (motorcycling). The company’s net sales for industrial trucks increased from 23 million to 28 million euros (21.7 percent) between 2013 and 2014 and in this report-ing year, it sold 81,463 industrial trucks. The turnover for the company as a whole mean-while sank from 175 million to 157 million euros (-10.3 percent). As in the previous year, the company made a profit. The em-ployee count in the industrial trucks division rose from 110 to 120; for the company as a whole, it decreased from 680 to 602. Pramac produces hand pallet stackers, hand pallet trucks with a weighing system, manually and electrically operated scissor lift trucks, electric low-lift trucks, electric pedestrian trucks and electric stacker trucks. The hand pallet trucks are available in steel, stainless steel and plastic designs. u www.pramac.com

27. Baumann, Italy

After a one-year absence from the World Ranking, side loader specialist Baumann S.r.I. of Cavaion on Lake Garda returns with what it is calling its ‘best financial year ever’. Because Baumann provided the data for 2013 along with the number for 2014, we are able to retrace the growth in turnover. The net sales rose constantly since 2010, most recently from 26 million to 28 million eu-ros from 2013 to 2014, representing an in-crease of 7.7 percent. As in previous years, this was grounds for a profit. The growth is based, among other things, on rising sales of electric-powered side loaders. Further-more, in the form of its H2GX 60, Baumann has successfully tested a fuel-cell equipped side loader in practical applications, which should lead to even greater sales opportuni-ties. The incoming orders are also positive, reaching 29 million euros in 2014. The com-pany, which operates at a high manufactur-ing depth with 84 employees, delivers in 59 industrialised countries. Exports account for

99 percent of its activities. Its product range includes side loaders with load bearing ca-pacities of 3 to 50 tonnes as well as two-way side loaders. u www.baumann-online.it

29. Stöcklin, Switzerland

Stöcklin Logistik AG of Dornach, Switzer-land, showed increased turnover for 2014 in the industrial trucks segment, rising from 29 million to 30 million Swiss francs (a 3.5 percent increase) from 2013 to 2014, equiv-alent to a rise from 24 million to 25 million euros (4.2 percent). In contrast, total turno-ver decrease in 2014, falling from 114 million to 107 million CHF, or from 93 million to 88 million euros. In terms of the employee count, Stöcklin reports that it employs 60 in the industrial trucks division and 454 for the company as a whole.

In the industrial trucks area, Stöcklin supplies hand pallet trucks, electric counter-balanced rider trucks and electric warehouse pedestrian trucks, explosion-proof lift trucks, industrial trucks with specialised designs, for example in stainless steel, reach trucks, auto-mated guided vehicles, a fleet management system and loading ramps. Furthermore, their range of products extends to automat-ed storage systems, temperature-controlled warehouse systems, software and intralogis-tic complete solutions.

u www.stoecklin.com

30. Magaziner, Germany

Magaziner Lager- und Fördertechnik GmbH of Bispingen, Germany, is a subsidiary of agricultural machinery specialists Hermann Röhrs GmbH. For 2014, their turnover as well as employee count remained at the same levels as in 2013. In terms of net sales, the company once again reported 12.5 million euros; the number of employees is report-ed to be 60. The number of industrial trucks sold was 160, according to Magaziner. They did not respond to the question of wheth-er there was a profit or a loss. The incom-ing orders came in at 12.5 million euros for the reporting year, meaning that a similar result is to be expected for 2015. Magazin-er manufactures narrow-aisle stacker of the ‘man-up’ variety with lifting heights of up to 17 metres, as well as vertical order pick-er. u www.magaziner.de

31. Miag, Germany

The net turnover of Miag Fahrzeugbau GmbH, Braunschweig, was at 2013 levels in 2014 at 11.1 million euros based on the sales of 110 industrial trucks. Apart from that, Miag shows a profit again in the re-porting year. The number of personnel also remained stable at 90. Incoming orders for 2015 are expected to remain at 2014 levels in the amount of 10.8 million euros, although the company, which claims to be the market leader in explosion-proof industrial trucks, faced a slight downturn in incoming orders in mid-2015.

Meeting its customers’ demand to trans-port ever higher tonnages, the company de-veloped EFU, a new build series with load bearing capacities of up to six tonnes. Fur-thermore, Miag shows once again an in-creased demand from the Asian region, as well as in the offshore field for Meca-num-driven special vehicles and in explo-sion proof design. Miag is also still working on maintaining the high safety standards of its industrial trucks and to have not only the individual components but also the complete machine that approved by the Physikalisch Technische Bundesanstalt (PTB) (German Federal Institute of Physics and Metrology). u www.miag.de

At this point, the editorial team wishes to thank the companies and their employees whose hard work and support enabled us to compile this world ranking list and to make a success of this venture.

Thanks to those parties involved

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