USA/Europe
The 2014 second quarter results for Alliance Laundry Holdings show that revenues and operating margins, excluding restructuring charges, reached all-time record levels. Alliance's acquisition of the Primus Group in March contributed to growth in all geographic regions, but particularly in Europe where its business grew by 137%.
Michael Schoeb, CEO at Alliance Holdings, said that the second-quarter results continued to demonstrate Alliance's strength in implementing strategic initiatives, including the integration of the Primus Group. "As a result, we have increased confidence in our ability to achieve our 2014 and five-year performance goals."
Net revenues for the quarter ending 30 June 2014 increased by $44.4million to $186.8 million.
This was attributable to revenue increases of $12.6million in USA and Canada, $21.2million in Europe, $0.5million in Latin America, $5.1million in Asia and $5.0million in Middle East and Africa.
Adjusted EBITDA for the quarter was $41.2million compared with $29.1million in 2013.
Net revenues for the six months ended 30 June 30, 2014 increased to $331.5million, compared with $265.0million for the first half of 2013.
