PALFINGER news

Following the record year 2019 the profitability in the first quarter of 2020 is expected to be significantly below the outstanding first quarter of 2019

18.02.2020

In the course of the planning process it became clear today that profitability in the first quarter of 2020 is expected to be significantly below the outstanding level of the first quarter of 2019. Reasons for this are changes in the regional and product mix, higher structural costs in connection with the growth strategy as well as current negative market influences. The reduced profitability in the first quarter will have a corresponding impact on the result for the first half of 2020.

Despite the expected decline in earnings in the first quarter, management expects a solid fiscal year 2020. The target of increasing sales to EUR 2 billion and an EBIT margin and ROCE of 10% each on average over the economic cycle by 2022 remains unchanged.


ABOUT PALFINGER AG

PALFINGER (CEO Andreas Klauser) is a leading international manufacturer of innovative lifting solutions for use on commercial vehicles, ships and stationary equipment. Based in Bergheim, Austria, the PALFINGER Group develops and produces leading solutions for its customers and partners all over the world. With more than 11,000 employees and over 5,000 sales and service centers, PALFINGER is close to the market and to its customers.

As a technology leader, the company also drives digitalization, electrification and autonomous systems as central components for future solutions and products in order to secure a long term partnership and success with its customers.

Convinced that sustainable thinking and acting significantly contributes to economic success, PALFINGER takes social, ecological and economic responsibility along the entire value chain.

With this vision and conviction to offer the most efficient and innovative solutions for its customers and partners, PALFINGER generated total sales of EUR 1.75 billion in 2019.

 

For further information please contact:

Hannes Roither | Company Spokesperson | PALFINGER AG
T +43 662 2281-81100 | h.roither@palfinger.com

This text and the corresponding images are available under “News” at PALFINGER’s website www.palfinger.ag, www.palfinger.com.