PALFINGER news

PALFINGER again achieved record revenue and earnings in 2016

07.02.2017
  • Revenue grew by 10.3 per cent to EUR 1,357.0 million
  • EBITDAn increased by 11.7 per cent to EUR 172.5 million and EBITn by 9.1 per cent to EUR 123.7 million
  • EBIT at record level of EUR 106.0 million despite restructuring
  • Establishment of marine business as second mainstay after the acquisition of Harding
  • Dividend stable at EUR 0.57 per share
  • High level of incoming orders in the fourth quarter of 2016 and in early 2017

 

  2014               2015               2016                % 
 Revenue (EUR million)   1,063.4 1,229.9  1,357.0  10.3% 
 EBITDAn1) (EUR million)  104.6 154.4  172.5  11.7% 
 EBITDAn margin1) in % 9.8%  12.6%  12.7%  – 
 EBITn1) (EUR million) 66.1  113.4  123.7  9.1% 
 EBITn margin1) in % 6.2%  9.2%  9.1%  – 
 EBIT 66.1  104.4  106.0  1.6% 
 Consolidated net result for the period (EUR million)               38.2  64.4  61.2  (5.0%)
 Dividend 0.34  0.57  0.572)  – 
 Human resources3) 8,2254)  8,9784)  9,580  6.7% 

 

1) Figures for 2015 and 2016 were normalized (n) by restructuring costs.
2) Proposal to the Annual General Meeting.
3) On an annual average / Consolidated Group companies excluding equity shareholdings, as well as excluding temporary workers.
4) Changes occurred due to internal control loops for the purpose of improving data quality.

 

Bergheim, 7 February 2017

 


Performance of the PALFINGER Group
The PALFINGER Group continued to post further growth in 2016. In the LAND segment, which includes all traditional land-based product areas, growth was recorded in Europe, North America and CIS as well as in the Asia and Pacific region. Following the acquisition of Harding – the largest in the history of PALFINGER – the marine business was bundled in the separate SEA segment. The consolidated revenue recorded by the PALFINGER Group increased by 10.3 per cent to the new record level of EUR 1,357.0 million, as compared to EUR 1,229.9 million in 2015. Despite comprehensive restructuring measures and integration costs in North America and in the marine business, EBIT reached the new record figure of EUR 106.0 million. The management’s focus was on operating profitability normalized by restructuring costs. EBITDAn rose to EUR 172.5 million, corresponding to an extraordinarily high increase of 11.7 per cent, and the EBITDAn margin, at 12.7 per cent, was slightly above the previous year’s level.

 

Earnings and dividend
The significant improvement in earnings reported by the LAND segment also facilitated an extraordinarily strong increase at Group level: Normalized EBITDA (EBITDAn) went up by 11.7 per cent, from EUR 154.4 million in the previous year to EUR 172.5 million, resulting in an EBITDAn margin of 12.7 per cent after 12.6 per cent in the same period of 2015.
EBIT increased by 1.6 per cent, from EUR 104.4 million to EUR 106.0 million, which marks a new record figure.
The consolidated net result for the 2016 financial year was EUR 61.2 million, 5.0 per cent lower than the previous year’s figure of EUR 64.4 million. Earnings per share came to EUR 1.63, as compared to EUR 1.73 in 2015.
In line with PALFINGER’s dividend policy, the Management Board is going to propose to the Annual General Meeting that a dividend of EUR 0.57 be distributed for the 2016 financial year.

 

Outlook
The conditions predicted for 2017 harbour a great deal of political and economic uncertainty. Nevertheless, the management considers further revenue growth to be realistic in light of the satisfactory level of incoming orders in the fourth quarter of 2016 and in early 2017.

 

The full Integrated Annual Report for 2016 is available for download at
www.palfinger.ag/en/newsroom/annual-reports.

 

 


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.