PALFINGER AG: Record Year 2023 — in Revenue, EBIT and Consolidated Net Result

PRESS RELEASE                         Bergheim, Austria on March 6, 2024

PALFINGER AG: Record Year 2023 — in Revenue, EBIT and Consolidated Net Result
 

• Consolidated revenue in 2023 of EUR 2.45 billion
• EBIT up by 39.8 percent to EUR 210.2 million
• Consolidated net result up from EUR 71.4 million to EUR 107.7 million
• Proposed dividend of EUR 1.05 per share

Today, the Supervisory Board of PALFINGER AG announced the annual financial statements for 2023 and, together with the Executive Board, decided to propose a dividend of EUR 1.05 per share to the Annual General Meeting on April 10, 2024. The hybrid press conference and balance sheet presentation will take place tomorrow, Thursday, March 07, 2024, at 10 a.m. in Vienna. This press release presents in brief the most important developments and results.

In 2023, a year marked by high volatility, rising interest rates and significant inflation, PALFINGER AG achieved an absolute record year.

The operating result increased significantly by 39.8 percent from EUR 150.4 million in 2022 to EUR 210.2 million. Furthermore, the best EBIT margin of 8.6 percent since 2008 was achieved. The consolidated net result rose substantially by 50.8 percent, from EUR 71.4 million in 2022 to EUR 107.7 million. This was largely due to the very good product mix, good capacity utilization at plants, the full effectiveness of the implemented price increases and stabilization of the supply chain. At EUR 1.05, a dividend of over one euro will be proposed to the Annual General Meeting for the first time.

Outlook
The economic environment is currently very challenging, especially in Europe. The order backlog gives visibility until the end of Q2/2024.
For the first half of the year, PALFINGER expects a stable revenue compared to the previous year and good profitability. There is very limited visibility for the second half of 2024. The ambitious financial targets for 2027 remain unchanged: PALFINGER strives for a revenue of EUR 3.0 billion with an EBIT margin of 10 percent and a return on capital employed of 12 percent until 2027.  


Here you can find the PALFINGER AG annual report 2023: https://www.palfinger.ag/en/investors/publications/finance-publications

Here you can find the magazine “&beyond” that accompanies the PALFINGER AG annual report 2023: https://www.palfinger.ag/en/investors/publications/finance-publications


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ABOUT PALFINGER AG
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 contingent 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 | h.roither@palfinger.com 

Texts and accompanying images are available in the “News” section of www.palfinger.ag, www.palfinger.com.