Palfinger breaks another revenue record

Palfinger’s new North American headquarters in Illinois opened in 2023. Photo: Palfinger

Another set of record figures as Palfinger reports its highest revenue ever for the first three quarters of the year.

The Austrian loader crane, aerial work platform and materials handling equipment manufacturer posted sales revenue of €1,798.9 million (US$ 1,910.3 million) for the first three quarters of 2023, up 13.8 per cent on the €1,580.9 million ($1,678.8 million) for same period of 2022.

Earnings before interest and taxes (EBIT) during the period was €165 million ($175 million) with a consolidated net result of €90.9 million ($96.5 million), up 71 % on the same period a year earlier.

What helped the result?

Contributing factors included strong sales in North America, a good product mix, price increases and lower costs for freight and materials, the company said. Economic recovery in Asia outside China was also said to have had a positive impact.

In outlook, however, Palfinger forecast “a highly challenging economic environment” for 2024 but said it is already preparing for it. The EMEA region is already affected by inflation and high interest rates, especially the construction industry, the company said.

For the full year the revenue forecast at the end of October was €2.4 billion ($2.5 billion) with an EBIT of €200 million ($212 million).