Claudius Peters, a German plant machinery supplier with operations in the cement, gypsum, steel and alumina sectors, reported 2016 revenues of €106.3 million, according to its latest annual report. The company, a division of Langley Holdings, remained profitable, however, despite the 14.1% fall on 2015 revenues of €123.7 million.
Orders on hand fell to €50.3 million from €57.7 million the year before.
“The sectors in which it operates […] remain at a low point in their cycle and there is generally a dearth of capital investment in these sectors,” said Tony Langley, Chairman of Claudius Peters’ parent company, Langley Holdings. “A malaise in Brazil and Russia and a slowing of the Chinese economy also continue to effect the division.”
That said, Claudius Peters China “performed quite well”, according to Langley, on the back of export projects with Chinese contractors. Results from the company’s subsidiaries in France and the US were also generally positive, as were those from the “smaller outposts” in the UK, Spain and Italy, which all generated small profits.
The order intake also showed signs of recovery in 4Q16. Coupled with commodity price rises, there are “signs that the climate is improving,” said Langley, “although it is too early to call a recovery.”
Read the article online at: https://www.worldcement.com/product-news/13022017/claudius-peters-posts-profitable-2016/