PALFINGER news

Forecast for Q1 and full year 2021 after the cyber attack

02.02.2021

Following last week's cyber attack, PALFINGER AG has largely regained control of its IT systems and is currently working at full speed to restore its full operational capability. Following interruptions to operations, a gradual ramp-up of production and assembly plants is planned for the end of this week in order to achieve normalization of the production process.

Based on this development and the current forecast, the Executive Board of PALFINGER AG expects revenue in Q1 2021 above the level of Q1 2020 (EUR 393.2 million), while following the one-off effects of the cyber attack, the EBIT margin is expected to be below the level of Q1 2020 (8 percent). The target for the full fiscal year 2021 is revenue in excess of EUR 1.7 billion and an EBIT margin of 8 percent.


ABOUT PALFINGER AG

The international mechanical engineering firm of PALFINGER is the global leader for innovative crane and lifting solutions. With a workforce of over 11,600, 34 manufacturing sites and a worldwide network of dealerships and maintenance centers at over 5,000 locations, PALFINGER is always close to the customer.

As the leader in its engineering field, the company aims to ensure its partners’ business success in the long term by providing solutions and products that remain economically and ecologically viable in the future. Its broad product and model portfolio allows PALFINGER to take digitalization and the deployment of artificial intelligence to new levels.

As a global company with strong roots in its home region, PALFINGER is convinced that thinking and acting in the interests of sustainability plays a vital role in successful business operations. This is why the company assumes social, ecological and economic responsibility along the entire value chain.

PALFINGER AG has been listed on the Vienna stock exchange since 1999 and in 2020 achieved a revenue of EUR 1.53 billion.

 

For further information please contact:

Hannes Roither | Company 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.