In its 2014 annual report, Terex Corp. provided a breakdown of its yearly financial statement, indicating its aerial work platform segment led the pack in net sales for the year.
According to Terex, 32% of its net sales were from the AWP sector. Cranes and material handling & port solutions segments both tied at 24%, while construction brought in 11% of net sales, and materials processing had 9%. By geography, the United States and Canada purchased 41% of Terex's equipment; Western Europe bought 31%; and the rest of the world purchased the other 28%.
By product segment, 53% of Terex AWP sales were from boom lifts, 23% from scissor lifts, 17% from telehandlers, and 7% from trailer-mounted and other products. Sixty-four percent of sales were made in the United States and Canada, 16% made in Europe, and 20% in the rest of the world.
In the crane segment, mobile telescopic crane sales topped the list with 45% of its sales, followed by crawlers & towers (27%), utility aerial devices (17%), and services in North America (11%). The United States and Canada made the bulk of the crane purchases (44%). Western Europe purchased 25%, while the rest of the world bought 31%.
According to the company's report, Terex increased sales by 3% in 2014, and it was able to generate $329 million in free cash flow. For the year, adjusted operating profit was flat with 2013. While the material handling & port solutions and construction segments showed profit improvements, the cranes, materials processing, and aerial work platform segments were below 2013 levels due to unpredictable markets for cranes and materials processing and operating inefficiencies and increased investments for AWPs.
For the full report, visit the investor relations section on www.terex.com.
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