Palfinger reports second quarter fall in demand

Palfinger reported modest 2.3% growth in revenues for the first half of 2026, with EBITDA profit down 2.5%, as it faced a “sharper than expected” decline in demand in the second half of the year linked to the wider impact of the Iran war.

The manufacturer, which makes cranes, aerial platforms and lifting equipment used in construction, industrial and marine markets, said the war had weakened sentiment in North America, the Middle East and APAC.

Its performance in Europe remained resilient, said the company, with southern Europe strong and conditions in northern Europe improving gradually, although the business has yet to see the effects of Germany’s planned infrastructure programme.

Palfinger PK 1050 TEC

Total revenues were €1.165 billion for the first half, with net profits of €48.0 million.

‘Delayed investment decisions’

“Market uncertainty increased noticeably in the second quarter, delaying investment decisions in key markets”, said Andreas Klauser, CEO of Palfinger.

“In this environment, we remain focused on executing our Strategy 2030+, improving efficiency by increasing our use of artificial intelligence, for example, and further strengthening our market position for the long term.”

The company has initiated a “structural efficiency programme” with the aim of saving €25 million in annual costs.

Part of that will be increasing productivity through automation and the use of artificial intelligence.

Palfinger said it was still aiming for full-year growth in both revenue and profit this year, but said the economic situation in key markets such as the US and Germany meant that it would miss its 2027 revenue target of €2.7 billion. It has retained its target of €3.0 billion revenues by 2023.