Palfinger achieved significant growth in 2024, reporting revenue of EUR 2.36 billion and an operating result of EUR 185.6 million. A strategic reduction in working capital led to a strong free cash flow of EUR 119.5 million, reducing net financial debt.
The company’s broad product portfolio and regional diversification strengthened its resilience. “Waste management, recycling, forestry, public sector, marine, and logistics accounted for 65% of revenue in 2024, playing a key role in our success,” said CEO Andreas Klauser.
While investment in North America slowed due to election-related uncertainty, Palfinger expanded its supplier base in Mexico. Growth in Latin America led to increased capacities in Brazil and Argentina. In Asia-Pacific, China showed no signs of recovery, but India emerged as a key market. PALFINGER is investing EUR 25 million in a new Indian assembly plant targeting EUR 300 million in revenue by 2030.
Marine profitability improved, with offshore wind projects in Taiwan and Japan boosting performance. European operations also expanded, with modernized facilities in Germany and a new plant in Serbia. Strong marine and tail lift business helped offset a decline in EMEA EBIT.
Palfinger invested 4.2% of revenue in R&D, focusing on digitalization. The sustainability program “Lifting Positive Impact” reduced CO₂ emissions by 17.6% and improved workplace safety.
Palfinger targets EUR 2.7 billion in revenue by 2027, with a 10% EBIT margin. Order intake in Europe is recovering, setting the stage for a strong second half of 2025.
