Genie Q3 results provide silver lining ...United Arab Emirates

ME CONSTRUCTION NEWS - Local News

Genie, the Terex AWP brand, has reported a 3% operating margin in its third quarter results for the year, which the company says is a sign of gradual improvement in the market even though net sales were down for the quarter. Net sales of aerial work platforms at Genie were reported at $445m for Q3 2020, 29% lower year-on-year over the $628.2m recorded last year. Total sales for the first nine months of 2020 were also down 37.5% over 2019 at $1.37bn. Utilisation levels of equipment, however, rose in Q3 this year. John L. Garrison, Terex Corp. chairman and CEO, said: “Aerial Work Platforms improved its operating performance delivering 3% operating margin, reflecting the gradual sequential impr

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Last updated : 02 Nov 2020 clock 11:07 AM

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