PALFINGER AG Reports Strong Performance in Q1 2024 Despite Market Challenges

PALFINGER AG announced robust financial results for the first quarter of 2024, achieving a record EBIT of EUR 54.7 million and a consolidated net result of EUR 32.5 million. These figures mark the highest EBIT and net result for a first quarter in the company's history, attributed to sound performances in North America, Asia, and the Marine Sector, despite ongoing economic and geopolitical challenges.

Revenue for the first quarter stood at EUR 578.5 million, showing a slight decrease from the previous year. The EMEA region experienced low order intake due to macroeconomic and geopolitical upheavals, whereas North America and the Asia-Pacific region witnessed substantial growth, with particularly strong demand in India for loader cranes. The Marine Sector also excelled, benefiting from increased activity in offshore wind projects and maritime services.

Furthermore, PALFINGER successfully placed an ESG-linked promissory note loan of EUR 160 million, emphasizing its commitment to sustainability through targeted KPIs related to CO2 emissions reduction and safety improvements. Despite a challenging environment, outlooks for profitable growth remain focused on the North American, Asia-Pacific, and Marine sectors, with a projected decline in EMEA operations.