Since 2010, PALFINGER has taken a regional approach in its organizational structure. The business areas have been given a large degree of independence in order to enable them to meet the requirements of the individual markets in an ideal manner. Not only does this support the internationalization of the Group, it also makes it possible to focus more strongly on increasing the flexibility of all processes. In this context, special emphasis is placed on strategic projects that promote the further development of the PALFINGER Group. PALFINGER provides reporting broken down into the management-relevant segments LAND and SEA as well as the HOLDING unit.
The LAND segment comprises the business regions EMEA, the Americas, CIS, as well as Asia and Pacific. This includes all land-based product areas of PALFINGER in these markets: loader cranes, timber and recycling cranes, telescopic cranes, mobile cranes, access platforms, tail lifts, hooklifts, truck mounted forklifts, passenger lifts, bridge inspection units and railway systems.
The SEA segment comprises PALFINGER’s maritime product groups: marine cranes, offshore cranes, davit systems, boats, winches and offshore equipment, wind cranes, service, as well as rope access. In order to guarantee the best possible use of synergies in development, production and distribution, the product groups were subsumed into four global product divisions in 2016: Cranes, Winches and Handling Equipment, and Lifesaving Equipment as well as rope access.
Reporting on the HOLDING unit presents the set of group functions that are bundled at headquarters, as well as strategic project costs incurred by this unit.
Strategic corporate planning
PALFINGER strives to achieve sustainable, profitable growth, which means that its business model centres on a long-term, continuous increase in earnings. Each and every decision is knowledge-based and taken in consideration of long-term aspects relating to cost effectiveness, the environment and the health of employees and users. After all, innovations to ensure the efficiency, environmental compatibility and safety of processes and products as well as their applications contribute substantially to PALFINGER’s success.
In 2012, PALFINGER defined its strategic objectives for the period until 2017. Moreover, specific measures for priority issues were elaborated, the gradual implementation of which is intended to ensure the attainment of PALFINGER’s goals. In previous years, these objectives and measures were updated and expanded to include 2018. In 2017, comprehensive strategic corporate planning for the period up to 2022 will be completed, once again containing quantitative objectives, including, for example, revenue and profitability targets.