Germany OEM Palfinger AG has posted its best ever Q1-Q3 result in the company’s history, with revenues of 1,798.9 million euros, an EBIT of 165.0 million euros and a consolidated net result of 90.9 million euros. It also posted strong growth in North America
At a global level, 2023 is characterised by the effects of geopolitical developments, high interest rates and continued high inflation. Despite these difficult conditions, in the first three quarters of 2023 Palfinger once again achieved record figures with 1,798.9 million euros in revenue, 165.0 million euros EBIT and a consolidated net result of 90.9 million euros as a result of a very good product mix and the implemented price increases taking full effect.
The reduction in costs for freight and materials began to take effect during Q3. However, a highly challenging economic environment is forecast for 2024, for which Palfinger is already preparing today.
The high demand for service cranes and truck-mounted forklifts led to growth in revenue of more than 30 percent in North America. As a result, the region remained an important growth driver despite the limited availability of truck chassis and resulting lower output. The recovery of the economy in Asia Pacific outside China also had a positive impact on order intake in the loader crane sector, particularly in the future market of India, where Palfinger sees great potential for further growth. The marine sector experienced a good order intake as well.
Based on the current order book coverage, which lasts until the end of Q1 2024, Palfinger expects revenue of 2.4 billion euros and an EBIT of over 200 million euros in 2023.