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

The international mechanical engineering firm of PALFINGER is the world’s leading producer of innovative crane and lifting solutions. With over 12,600 employees, more than 30 manufacturing sites and a worldwide network of dealerships and service centers at over 5,000 locations, PALFINGER takes on its customers’ challenges and creates added value. PALFINGER is consistently continuing on its course as a provider of innovative, complete solutions that deliver increased efficiency and better operability, while leveraging the potential of digitization along the entire production and value chain.

PALFINGER AG has been listed on the Vienna stock exchange since 1999 and in 2021 achieved record revenue of EUR 1.84 billion. In 2022, PALFINGER celebrates its 90th anniversary under the tagline “Celebrating the future since 1932.”

 

For further information please contact:

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

Texts and accompanying images are available in the “News” section of www.palfinger.ag, www.palfinger.com.