PALFINGER AG Revenues Shatter EUR 2 Billion Mark

• Consolidated revenue 2022 reached EUR 2.23 billion, an increase of 20.9 percent compared to the previous year
• EBIT EUR 150.4 million, dividend proposal of EUR 0.77 per share
• Aiming for a record year in revenue and EBIT in 2023
   

Today, the Supervisory Board of PALFINGER AG announced the annual financial statements for 2022 and, together with the Executive Board, decided to propose a dividend of EUR 0.77 per share to the Annual General Meeting on March 30, 2023, as in the previous year. The hybrid press conference and balance sheet presentation will take place tomorrow, Friday, February 24, 2023, at 10 a.m. in Vienna. This press release presents in brief the most important developments and results.

PALFINGER AG looks back on an eventful and successful fiscal year in 2022. In a challenging economic environment characterized by the war in Ukraine, massively impacted supply chains, supply bottlenecks for electronic components and truck chassis, as well as enormous cost increases, the global technology and engineering company recorded an all-time high in revenues of EUR 2.23 billion and the company’s second-best operating result of EUR 150.4 million.
 

EBIT reflects exploding costs

The operating result fell slightly from EUR 155.0 million in 2021 to EUR 150.4 million. At 6.8 percent, however, the EBIT margin is significantly below the previous year's figure of 8.4 percent. This is largely due to the massive cost increases as a result of the Russian attack on Ukraine and the delay in the company's own price increases, which took effect much later due to the high order backlog. At EUR 71.4 million, the consolidated net result is significantly below the previous year.
 

Outlook 2023: Aiming for record revenue and record EBIT

PALFINGER has had an excellent start to the new year. Q1 2023 is expected to significantly exceed the comparable quarter of the previous year in terms of both revenue and EBIT (EUR 485.6 million in revenue and EUR 30.4 million EBIT in Q1 2022).*) PALFINGER is also optimistic for fiscal year 2023 as a whole and is aiming for new records in revenue and EBIT. In addition, the strong performance in 2022 opens up a new financial goal. In 2027, a revenue of EUR 3.0 billion is expected with an EBIT margin of 10 percent and a return on capital employed of 12 percent.

* Experience shows that deviations in earnings figures from the previous year or from analysts' estimates are more pronounced in Q1 or Q2, as individual effects have a stronger percentage effect on the lower base, without this resulting in a deviation from the communicated guidance for the full year. The PALFINGER AG annual report for 2022 is available here: https://www.palfinger.ag/en/investors/publications/finance-publications Here is the magazine “&beyond” that accompanies the PALFINGER AG annual report 2022: https://www.palfinger.ag/en/investors/publications/finance-publications
 

The PALFINGER AG annual report for 2022 is available here:  
https://www.palfinger.ag/en/investors/publications/finance-publications 

Here is the magazine “&beyond” that accompanies the PALFINGER AG annual report 2022: 
https://www.palfinger.ag/en/investors/publications/finance-publications