PALFINGER AG: Record Year 2023 — in Revenue, EBIT and Consolidated Net Result

• Consolidated revenue in 2023 of EUR 2.45 billion
• EBIT up by 39.8 percent to EUR 210.2 million
• Consolidated net result up from EUR 71.4 million to EUR 107.7 million
• Proposed dividend of EUR 1.05 per share

Today, the Supervisory Board of PALFINGER AG announced the annual financial statements for 2023 and, together with the Executive Board, decided to propose a dividend of EUR 1.05 per share to the Annual General Meeting on April 10, 2024. The hybrid press conference and balance sheet presentation will take place tomorrow, Thursday, March 07, 2024, at 10 a.m. in Vienna. This press release presents in brief the most important developments and results.

In 2023, a year marked by high volatility, rising interest rates and significant inflation, PALFINGER AG achieved an absolute record year.

The operating result increased significantly by 39.8 percent from EUR 150.4 million in 2022 to EUR 210.2 million. Furthermore, the best EBIT margin of 8.6 percent since 2008 was achieved. The consolidated net result rose substantially by 50.8 percent, from EUR 71.4 million in 2022 to EUR 107.7 million. This was largely due to the very good product mix, good capacity utilization at plants, the full effectiveness of the implemented price increases and stabilization of the supply chain. At EUR 1.05, a dividend of over one euro will be proposed to the Annual General Meeting for the first time.
 

Outlook

The economic environment is currently very challenging, especially in Europe. The order backlog gives visibility until the end of Q2/2024. For the first half of the year, PALFINGER expects a stable revenue compared to the previous year and good profitability. There is very limited visibility for the second half of 2024. The ambitious financial targets for 2027 remain unchanged: PALFINGER strives for a revenue of EUR 3.0 billion with an EBIT margin of 10 percent and a return on capital employed of 12 percent until 2027.

Here you can find the PALFINGER AG annual report 2023:
https://www.palfinger.ag/de/investoren/publikationen/finanz-publikationen

Here you can find the magazine “&beyond” that accompanies the PALFINGER AG annual report 2023:
https://www.palfinger.ag/de/investoren/publikationen/finanz-publikationen