PALFINGER Q1-Q3 2021: On Target for New Record Year

  • Group revenue and profitability exceed the same period in record year 2019
  • Revenue of more than EUR 1.75 billion and an EBIT of over EUR 150 million targeted for the full fiscal year 2021
  • Increase in medium-term financial targets 2024 to EUR 2.3 billion in revenue, 10% EBIT margin and 12% ROCE


in EUR millions Q1-Q3/2019 Q1-Q3/2020 Q1-Q3/2021 %*
Revenue 1,300.6 1,102.4 1,337.6 +21.3%
EBITDA 175.1 140.3 188.3 +34.2%
EBITDA margin in % 13.5% 12.7% 14.1% -
EBIT 119.3 70.6 125.4 +77.7%
EBIT margin in % 9.2% 6.4% 9.4% -
Consolidated net result 63.6 31.8 71.4 +124.5%
Employees 11 055 10 841 12 066 -

*Comparison 2020/21

The positive global economic environment is reflected in the results of the first three quarters of 2021: in terms of revenue and earnings, they represent a new record in PALFINGER’s corporate history.

Record Order Intake

PALFINGER continues to benefit from the economic upswing and the positive market environment. The company has achieved record order intake in almost all product lines and regions. In the third quarter, PALFINGER also won a major follow-up order in Thailand for the delivery of 148 loader cranes to the state-owned Provincial Electricity Authority. Following the acquisition of an innovative technology for Offshore Passenger Transfer Systems, PALFINGER is also expanding its position as a full-service provider in the offshore sector.

Supply Chain Task Force Implemented

The worldwide material bottlenecks and negative effects on supply chains also affect PALFINGER’s production which has led to increased effort in capacity management. "PALFINGER has deployed its own Supply Chain Task Force to proactively manage any upcoming constraints to secure maximum production volume,” emphasizes PALFINGER CEO Andreas Klauser. Due to the increase in raw material costs, PALFINGER raised its prices significantly in several steps this year. This did neither negatively impact the strong demand, nor did we lose orders.

Key Financials

Revenue of PALFINGER AG amounted to EUR 1,337.6 million in the first three quarters of 2021 against EUR 1,102.4 million for the same period in the previous year. This represents an increase of EUR 235.2 million, or 21.3 percent. EBITDA increased by 34.2 percent to EUR 188.3 million compared to the same period in 2020. The operating result (EBIT) increased from EUR 70.6 million at the end of Q3 2020 to EUR 125.4 million, while the consolidated net result amounted to EUR 71.4 million, up from EUR 31.8 million, as at 30 September 2020. Net debt has been reduced from EUR 459.0 million to EUR 421.0 million. The net debt/EBITDA ratio of 1.78 is at a remarkably low level.


In order to secure capacity for future growth and further efficiency, PALFINGER invests around EUR 130 million in 2021, the highest amount in the company’s history. This also includes the acquisition of the global headquarters in Bergheim. Despite the shortage of materials and components, Andreas Klauser gives a positive outlook: “Our order books provide us with good visibility and utilization of capacity until the 2nd quarter of 2022”. For the full fiscal year 2021, PALFINGER aims to reach revenues in excess of EUR 1.75 billion and an EBIT of more than EUR 150 million. As a result, the medium-term financial targets for 2024 have been increased. By 2024, EUR 2.3 billion in revenue should be achieved through organic growth, with an EBIT margin of 10 percent and 12 percent ROCE.

The online version of the results presentation for Q1-Q3/2020 is available here:

Key Figures of the PALFINGER Group

EUR thousand Q1-3/2019 Q1-3/2020 Q1-3/2021
Income statement      
Revenue 1,300,591 1,102,449 1,337,636
EBITDA 175,106 140,301 188,278
EBITDA margin 13.5% 12.7% 14.1%
EBIT (operating result) 119,293 70,584 125,436
EBIT margin 9.2% 6.4% 9.4%
Results before income tax 107,143 58,491 116,919
Consolidated net profit or loss 63,582 31,787 71,375
Balance sheet      
Net Working Capital (average) 375,442 323,070 378,710
Capital Employed (average) 1,133,593 1,110,190 1,061,868
ROCE 9.2% 6.5% 11.0%
Equityl 618.863 606.733 689.247
Equity ratio 37.1% 39.0% 39.2%
Net debt 576,857 458,907 420,953
Gearing 93.2% 75.6% 61.1%
Cash flows und investments      
Cash flows from operating activities 81,485 132,819 97,614
Free cash flows 56,114 96,262 2,805
Net investments 66,196 46,920 86,229
Depreciation, amortization and impairment 55,813 69,717 62,842
Human resources      
Employees 11,055 10,841 12,066
Earnings per share (EUR) 1.69 0.85 1.90


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 |

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