RIPON, Wis. — Alliance Laundry Holdings LCC, the parent company of Alliance Laundry Systems, saw overall revenue growth for the year ended Dec. 31, according to its financial results for 2012. The company’s net revenues for the year totaled $505.5 million, a $47.5 million increase over 2011’s reported net revenue of $458 million.
“2012 was a tremendous year, with net revenues increasing 10.4% year-over-year,” says President and CEO Michael D. Schoeb.
The company attributes its net revenue growth to increases in United States and Canada revenues of $40.2 million; Latin America revenues of $4.9 million; Asia revenues of $6.8 million; and Middle East/Africa revenues of $2.0 million. Those increases were offset by a decline in Europe revenues of $6.4 million.
“In 2012, we achieved record revenues in all regions of the world, with the exception of Europe, where the economy continues to struggle,” Schoeb says.
While the company reports an increase in net revenue for the past year, its net income for 2012 decreased $7.0 million, falling to $16.4 million from 2011’s reported $23.4 million.
Despite this, its adjusted EBITDA (net income before interest expense, income tax provision, depreciation and amortization) increased $10.5 million, going from $83.9 million in 2011 to $94.4 million last year.
Schoeb anticipates another profitable year in 2013. “The steps we have taken to improve our competitive position over the last several years gives us confidence, and we expect continued sales and profitability growth in 2013,” he says.
Alliance Laundry Systems designs, manufactures and markets commercial laundry equipment under the brand names of Speed Queen, UniMac, Huebsch, IPSO and Cissell.