EQS-News: PALFINGER AG: PALFINGER Achieves Record Revenue Yet Again

EQS-News: Palfinger AG / Key word(s): Annual Results
PALFINGER AG: PALFINGER Achieves Record Revenue Yet Again

24.02.2023 / 07:00 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Bergheim, Austria on February 24, 2023

PALFINGER Achieves Record Revenue Yet Again
 

• Record revenue of EUR 2.23 billion in a volatile environment
• Strong performance in growth markets NAM & LATAM
• Aiming for significant revenue and EBIT record in 2023

 

in EUR million 2020 2021 2022 %
Revenue 1,533.9 1,841.5 2,226.2 +20.9 %
EBITDA 188.7 243.7 229.6 -5.8 %
EBITDA margin in % 12.3 % 13.2 % 10.3 % –
EBIT 100.3 155.0 150.4 -3.0 %
EBIT margin in % 6.5 % 8.4 % 6.8 % –
Consolidated net result 49.8 86.6 71.4 -17.6 %
Employees^1) 10,824 11,733 12,210^1) –
Dividend 0.45 0.77 0.77^2) –

1) Reporting date figures of consolidated Group companies without equity
investments and without contract workers.
2) Proposal to the Annual General Meeting.

PALFINGER AG looks back on an eventful and successful year in 2022. Despite
ongoing crises, the global technology and engineering company achieved record
revenue of EUR 2.23 billion and, at EUR 150.4 million, the second highest
operating result (EBIT).

Stressed supply chains and exploding costs
In addition to causing a humanitarian crisis, Russia’s attack on Ukraine has
also had a massive economic impact. Scarcity of resources, especially for truck
chassis and electronic components, led to significant delivery delays and cost
increases. Furthermore, market demand in EMEA weakened from Q2 2022 onwards.

At the same time, the zero Covid policy in China caused large-scale lockdowns,
which resulted in massive delays and cancelations in the delivery of Chinese
components worldwide and stagnating demand in APAC.

The Americas as a growth driver
By contrast, the NAM and LATAM regions proved to be strong growth markets.
Customer feedback on the newly launched range of truck-mounted forklifts was
extremely positive and led to a strong order intake. In the LATAM region,
mining, civil engineering and agriculture are the main growth drivers,
resulting in the region recording the highest percentage growth.

Future-focused actions secure profitability and supply chains
In order to compensate for cost fluctuations more quickly and transparently,
PALFINGER introduced an index-based and flexible dynamic pricing model. This
will lead to the company’s profitability becoming more plannable and stable
with effect from January 2023.

With the two task forces “Gas Emergency Readiness” and “Supply & Operations
Resilience,” PALFINGER implemented immediate and successful actions to reduce
energy consumption and substitute natural gas as well as to secure the supply
chain. “Despite material and personnel shortages, the supply chain task force
enabled us to make the best possible use of our production capacities, achieve
very good output and record revenue in manufacturing for third parties,” says
PALFINGER CEO Andreas Klauser.

Investments for future success
With the expansion of our Köstendorf Global Technology Center and the Löbau
site, as well as the opening of The Hub Vienna, PALFINGER has made important
investments for the future.
The technology center in Köstendorf ensures that PALFINGER has uniform
competencies made available across all product lines and that the components
engineered feature a modular design.
At the Löbau site, the access platforms product line is being strengthened even
further in order to continue to grow in this market segment as well.
The Hub Vienna exemplifies the company’s successful focus on the development of
new, sustainable technologies and opens up access to future talents. 

Innovative leadership through strong partnerships
PALFINGER took a significant step towards eMobility with the eWorX module,
which was developed in cooperation with ZF Friedrichshafen AG and Mercedes-Benz
Trucks. As a result, every PALFINGER product can be set up and used on a
high-voltage truck. PALFINGER is consistently continuing on its path as a
producer of highly innovative and smart solutions with increased efficiency,
enhanced safety and improved usability.

Outlook: Aiming for significant revenue and EBIT record in 2023
Based on the high order backlog, PALFINGER is targeting significant record
revenue and EBIT for fiscal year 2023.Q1 2023 is expected to significantly
exceed the comparable quarter of the previous year in terms of both revenue and
EBIT (EUR 485.6 million in revenue and EUR 30.4 million EBIT in Q1 2022). In
2027, a revenue of EUR 3.0 billion is expected with an EBIT margin of 10 % and
a return on capital employed of 12 %.

* Experience shows that deviations in earnings figures from the previous year
or from analysts‘ estimates are more pronounced in Q1 or Q2, as individual
effects have a stronger percentage effect on the lower base, without this
resulting in a deviation from the communicated guidance for the full year.

The online version of the PALFINGER AG annual report for 2022 is available
here:[1] https://www.palfinger.ag/en/investors/publications/finance-publications

Here is the magazine that accompanies the PALFINGER AG annual report 2022:
[2] https://www.palfinger.ag/en/investors/publications/finance-publications

Pictures of the press conference can be found after 11am [3]in this Gallery.

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ABOUT PALFINGER AG
PALFINGER is an international technology and mechanical engineering company and
the world’s leading producer and provider of innovative crane and lifting
solutions. With over 12,200 employees*, more than 30 manufacturing sites and a
worldwide sales and service network of around 5,000 service points, PALFINGER
creates added value from the challenges of its customers. PALFINGER is
consistently continuing on its course as a provider of innovative, complete
solutions that deliver increased efficiency and better operability, while
leveraging the potential of digitalization along the entire production and
value chain.

PALFINGER AG has been listed on the Vienna stock exchange since 1999, and in
2022 achieved record revenue of EUR 2.2 billion.

*Without contingent workers.

For further information please contact:  
Hannes Roither | Group spokesperson | PALFINGER AG  
T +43 662 2281-81100 | [4]h.roither@palfinger.com 

Texts and accompanying images are available in the “News” section of
www.palfinger.ag, www.palfinger.com.
 

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24.02.2023 CET/CEST This Corporate News was distributed by EQS Group AG.
www.eqs.com

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Language: English
Company: Palfinger AG
Lamprechtshausener Bundesstraße 8
5020 Salzburg
Austria
Phone: +43 (0)662/2281-81101
Fax: +43 (0)662/2281-81070
E-mail: ir@palfinger.com
Internet: www.palfinger.ag
ISIN: AT0000758305
Listed: Vienna Stock Exchange (Official Market)
EQS News ID: 1567037

 
End of News EQS News Service

1567037  24.02.2023 CET/CEST

References

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4. h.roither@palfinger.com

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