PALFINGER recorded further growth in 2018 and is re-aligning its corporate structure - long Version

  • Revenue rose by 9.8 per cent to EUR 1.6 billion
  • Excellent increase of 15.4 per cent in operating profitability
  • Higher dividend proposed
  • PALFINGER is aligning its corporate structure with the goal of achieving higher profitability and future growth







Revenue (EUR million)





EBITDAn1) (EUR million)





EBITDAn margin1) in %




EBITn1) (EUR million)





EBITn margin1) in %




EBIT (EUR million)




Consolidated net result for the period (EUR million)




Dividend (EUR)










1) These figures were normalized (n) by restructuring costs.

2) Figures were adjusted with retrospective effect (see the Annual Report, explanations on adjustments with retrospective effect, page 144).

3) Proposal to the Annual General Meeting.

4) Balance-sheet date figures of consolidated group companies excluding equity shareholdings and
excluding contract workers.


Bergheim, 19 February 2019


PALFINGER AG recorded two material developments in 2018: First, PALFINGER continued its profitable growth. Revenue increased by 9.8 per cent to EUR 1.6 billion, a new record level in the Company’s history. Operating profitability grew at an even stronger rate than revenue. Second, after Andreas Klauser became the new CEO, the new GLOBAL PALFINGER ORGANIZATION (GPO) was prepared and implemented as of the beginning of 2019. This new organization is focused on value creation processes and creates internal synergies with the goal of increasing profitability. The new corporate structure is transforming the PALFINGER Group into an integrated group of enterprises, thereby laying the foundation for further profitable growth.


“We are utilizing the market position and sound economic performance of our Company to prepare for greater volatility in the markets and a difficult economic environment,” commented Andreas Klauser, CEO of PALFINGER AG, explaining the rationale behind the re-orientation. “As an integrated group, PALFINGER will be able to be more flexible and profitable in its operations. Internally, we have identified a great deal of potential we will utilize to grow further. The greatest support in this regard is our GPO, a valuable tool in ensuring global and efficient management.”


Operational highlights

The outstanding performance in Europe was one of the reasons contributing to the expansion of business. PALFINGER also posted significant increases in North America, Russia and China. In 2018, incoming orders were at a very high level during the course of the year as well as at year end. The global marine business continued to be overshadowed by the difficult market environment in 2018.


In the 2018 financial year, revenue generated in the LAND segment rose by 13.8 per cent to EUR 1,399.4 million. This growth, all of which was organic, was achieved primarily in Europe and North America, flanked by satisfactory business performance in CIS and Asia. The segment EBITDAn saw a significant increase from EUR 201.4 million to EUR 232.8 million.


In the 2018 financial year, revenue generated by the SEA segment decreased by 10.2 per cent, coming to EUR 216.3 million. The segment’s EBITDAn was EUR 3.1 million in the reporting period.


In 2018, the Austrian Financial Reporting Enforcement Panel (AFREP) carried out a review of the consolidated financial statements for the year ended 31 December 2017 and of the interim consolidated financial information as at 30 June 2017 and 30 June 2018 of PALFINGER AG. In its review report, AFREP found that there was a material need for impairment of the goodwill, most of which resulted from the Harding acquisition. The result was an impairment loss of EUR 82.4 million, which has been recorded with retrospective effect as at 31 December 2017.



In the 2018 financial year, revenue increased by 9.8 per cent to EUR 1,615.6 million (previous year: EUR 1,471.1 million). EBITDAn (EBITDA normalized by restructuring costs) went up by 15.4 per cent, from EUR 186.0 million in the previous year to EUR 214.6 million, resulting in an EBITDAn margin of 13.3 per cent after 12.6 per cent in the same period of 2017. This increase was facilitated by the significant improvement in earnings reported by the LAND segment. Normalized EBIT (EBITn) went up from EUR 129.7 million to EUR 158.2 million, raising the EBITn margin to 9.8 per cent compared to 8.8 per cent in 2017. Even though the EBITn margin is still slightly below the target of 10 per cent, good progress has been made in terms of improving profitability. As a result of the impairment with retrospective effect, EBIT for 2017 was adjusted to EUR 27.8 million. In 2018, EBIT increased to EUR 127.0 million, which means that despite comprehensive restructuring measures, PALFINGER achieved a new peak in its corporate history. In the 2018 financial year, the EBIT margin amounted to 7.9 per cent, return on capital employed came to 8.5 per cent, which is significantly higher than the previous year’s figure of 1.7 per cent. The consolidated net result came to EUR 58.0 million. A dividend of EUR 0.51 per share will be proposed for distribution.



Material non-financial indicators again improved: Employee turnover, as well as the index of energy consumption (in relation to revenue) and the index of hazardous waste were reduced. Despite the expansion of production, staff absences due to industrial accidents, and greenhouse gas emissions almost remained at constant levels. PALFINGER remains committed to reaching its short-to-long-term sustainability targets for the environment and human resources and has defined additional long-term environmental targets.



In the course of 2018, the PALFINGER Group again recorded an increase in incoming orders, which indicates that for the first quarters of the 2019 financial year business performance will continue to be satisfactory overall. The management thus foresees a further increase in revenue and profitability.

For the years to come, PALFINGER sees its growth potential primarily in new products and new business models. In 2018, PALFINGER defined economic targets to be met by 2022, which include an organic increase in revenue to around EUR 2 billion, an average EBIT margin of 10 per cent and an average ROCE of 10 per cent over the economic cycle.


For more information and details, please visit our 2018 Integrated Annual Report online:


PALFINGER (CEO Andreas Klauser) is a leading international manufacturer of innovative lifting solutions for use on commercial vehicles, ships and stationary equipment. Based in Bergheim, Austria, the PALFINGER Group develops and produces leading solutions for its customers and partners all over the world. With more than 11,000 employees and over 5,000 sales and service centers, PALFINGER is close to the market and to its customers.

As a technology leader, the company also drives digitalization, electrification and autonomous systems as central components for future solutions and products in order to secure a long term partnership and success with its customers.

Convinced that sustainable thinking and acting significantly contributes to economic success, PALFINGER takes social, ecological and economic responsibility along the entire value chain.

With this vision and conviction to offer the most efficient and innovative solutions for its customers and partners, PALFINGER generated total sales of EUR 1.75 billion in 2019.


For further information please contact:

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

This text and the corresponding images are available under “News” at PALFINGER’s website,