Palfinger revenue exceeds €2 billion

Palfinger has released its annual financial statements for 2022, reporting a record high in revenue of EUR 2.23 billion and the company’s second-best operating result of EUR 150.4 million.

The company said supply chain issues were a challenge in 2022 (Photo: Palfinger)

The company proposed a dividend of EUR 0.77 per share to its annual general meeting.

It said it was pleased with the results given challenges facing the industry including the war in Ukraine, massively impacted supply chains, supply bottlenecks for electronic components and truck chassis, as well as enormous cost increases.

Exploding costs

The operating result fell slightly from EUR 155.0 million in 2021 to EUR 150.4 million. At 6.8 per cent, however, the EBIT margin is significantly below the previous year’s figure of 8.4 percent.

Palfinger said this is due to the massive cost increases as a result of the Russian attack on Ukraine and the delay in the company’s own price increases, which took effect much later due to the high order backlog.

At EUR 71.4 million, the consolidated net result is significantly below the previous year.

Outlook for 2023

Palfinger said 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). The company remains optimistic for fiscal year 2023 as a whole and is aiming for new records in revenue and EBIT.

In 2027, a revenue of EUR 3.0 billion is expected with an EBIT margin of 10 per cent and a return on capital employed of 12 per cent.