Palfinger AG reflects on 2023 as its most successful year to date, boasting record revenue, EBIT, and consolidated net results despite global challenges. The company achieved a historic revenue of EUR 2.45 billion, an operating result of EUR 210.2 million, and a consolidated net result of EUR 107.7 million. CEO Andreas Klauser emphasizes the company’s resilience in navigating volatile conditions and expresses confidence in facing the challenges of 2024.
Improved supply chains bolstered output and reduced production backlogs in the first half of 2023. However, weakening demand in Europe, the Middle East, and Africa (EMEA) and Latin America (LATAM) led to production adjustments starting September 2023. Despite delivery challenges, growth drivers in North America, Asia, and the Marine sector contributed to profitability increases.
Palfinger’s growth regions, North America (NAM) and Asia Pacific (APAC), along with the Marine sector, saw significant revenue growth in 2023. Strategic partnerships, such as with Steyr Automotive for truck-mounted forklifts in North America and Aker BP for remote-controlled offshore cranes, underscore Palfinger’s commitment to long-term success and digital innovation.
While the economic outlook remains challenging, Palfinger expects stable revenue and profitability in the first half of 2024. However, visibility for the second half of the year is limited. The company remains focused on optimizing working capital, managing investments, and reducing costs to achieve its ambitious financial targets for 2027: EUR 3.0 billion in revenue, 10% EBIT margin, and 12% return on capital employed.
