Palfinger AG Reports Steady Results Amid Market Challenges

Palfinger AG announced a revenue of EUR 1,745.0 million and an EBIT of EUR 158.7 million for the first three quarters of 2024, reflecting an EBIT margin of 9.1%. Despite a slight revenue dip, the company notes stable performance. However, the order intake in core European markets remains low with stagnant demand, particularly in Germany and North America.

Conversely, growth was observed in the Asia-Pacific region driven by strong demand in India, and positive developments were seen in the Latin American markets, notably Brazil and Argentina. The marine sector also showed increased profitability due to offshore crane orders. In terms of strategic actions, PALFINGER has actively increased capacity in Latin America while reducing it in Europe.

Product innovations were highlighted with the launch of a marine crane, new loader cranes, and PALFINGER CONNECTED plus+. The economic forecast remains cautious with ongoing adjustments in production capacities in European markets as demand continues to be low.