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
PALFINGER is an international technology and mechanical engineering company and the world's leading producer and provider of innovative crane and lifting solutions. With around 12,700 employees (without contingent workers.), 30 manufacturing sites and a worldwide sales and service network of around 5,000 service points, PALFINGER creates added value from the challenges of its customers. 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 digitalization along the entire production and value chain.
PALFINGER AG has been listed on the Vienna stock exchange since 1999, and in 2022 achieved record revenue of EUR 2.23 billion.
For further information please contact:
Hannes Roither | Group Spokesperson | PALFINGER AG
T +43 662 2281-81100 | firstname.lastname@example.org