PALFINGER Q1 2022: Highest Q1 Revenues in a disparate Environment



  • Strong demand in EMEA, NAM and LATAM
  • Rising costs, unstable supply chain and war in Ukraine
  • Limited visibility for 2022


EUR million Q1 2020 Q1 2021 Q1 2022 %
Revenue 393.2 405.9 485.6 +19.6%
EBITDA 50.32 58.5 49.1 -16.1%
EBITDA margin in % 12.8 14.4  10.1 -
EBIT 31.4 40.0 30.4 -24.0%
EBIT margin in % 8.0 9.9 6.3 -
Consolidated net result for the period 15.5 24.5 13.6 -44.5%
Employees1) 11,127 10,905 12,049  

1) Reporting date figures of consolidated Group companies without equity investments and without contract workers. 


PALFINGER AG starts 2022 with the historically highest revenue for Q1. However, the ongoing positive market environment and the increasing order backlog are faced by the first effects of the war in Ukraine, rapidly rising material costs and unstable supply chains. In this disparate environment, the Bergheim-based group booked record revenue of EUR 485.6 million and earnings before interest and taxes of EUR 30.4 million in the first quarter.

Demand Driven by Construction, Timber and Recycling

PALFINGER benefits from the excellent market environment in the EMEA, NAM and LATAM regions in Q1. The high demand in these three regions is driven in particular by the construction industry, forestry and recycling sectors. Over the next few years, PALFINGER sees the NAM and LATAM markets continuing to develop enormous growth potential that will be capitalized on in a targeted and proactive way.

Adjusting Production Capacities

Despite material, personnel and capacity bottlenecks, PALFINGER maintains output at a high level. However, the war in Ukraine further increases problems in the supply chain, which cause inefficiencies and high stock levels in production and assembly plants. In view of increasing delivery delays for truck chassis in EMEA and general material shortages, PALFINGER has adjusted its capacities in Q2. “We are proactively taking every measure to keep our delivery reliability at a high level for the upcoming difficult and unpredictable months in an attempt to cushion the negative impacts as much as possible,” emphasizes PALFINGER CEO Andreas Klauser.

First Sustainable Financing and the Best Interest Rate

The sharper focus on sustainability in 2021 is underlined in Q1 of 2022 by the first sustainable financing. The terms are highly attractive, with PALFINGER achieving the best ever interest rate level of 1.23 percent. This financing is subject to two sustainability KPIs: production-related CO2 emissions and accident rate.


Despite the record order backlog, visibility of revenue and earnings for 2022 is limited. The existing order book limits the company's flexibility in passing on cost increases to its customers at short term notice. Taking this current situation and the effects of the war in Ukraine into account, PALFINGER has reduced its expectations for revenue and earnings for 2022. PALFINGER is still aiming for its medium and long-term goals. Revenue of EUR 2.3 billion from organic growth, ROCE of 12 percent and an EBIT margin of 10 percent are targeted to be achieved in 2024. Revenue is expected to pass the EUR 3.0 billion mark in 2030.

The online version of the results presentation for Q1/2022 is available here:


Key Figures of the PALFINGER Group

EUR thousand Q1 2020 Q1 2021 Q1 2022
Income statement      
Revenue 393,232 405,893 485,597
EBITDA 50,264 58,477 49,122
EBITDA margin 12.8% 14.4% 10.1%
EBIT 31,385 40,036 30,398
EBIT margin 8.0% 9.9% 6.3%
Results before income tax 26,115 38,448 29,365
Consolidated net profit or loss 15,488 24,533 13,610
Balance sheet      
Net Working Capital (average) 357,732 355,687 388,214
Capital Employed (average) 1,156,768 1,024,322 1,120,588
ROCE 9.0% 7.9% 9.8%
Equityl 618,597 649,104 608,436
Equity ratio 37.6% 39.0% 33.3%
Net debt 540,199 386,004 542,314
Gearing 87.3% 59.5% 89.1%
Cash flows und investments      
Cash flows from operating activities 12,268 40,866 -8,943
Free cash flows -4,298 21,350 -34,404
Net investments 19,042 16,466 27,599
Depreciation, amortization and impairment 18,879 18,441 18,724
Human resources      
Employees 11,127 10,905 12,049
Earnings per share (EUR) 0.41 0.65 0.39


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 contract 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 2023 achieved record revenue of EUR 2.45 billion.


For further information please contact:

Hannes Roither | Group Spokesperson | PALFINGER AG
T +43 662 2281-81100 |

Texts and accompanying images are available in the “News” section of,