Another record year for Palfinger

Andreas Klauser, Palfinger CEO, speaking at the financial results press conference on 24 February 2022. Photo: Palfinger/APA-Fotoservice/Juhasz

Sales revenue was €1,841 million (US$ 2,067 million) for the Palfinger Group in 2021, up 20 per cent from the €1,533 million ($1,721 million) in 2020.

The Austrian crane, aerial work platform and materials handling equipment manufacturer said it achieved all time highs for revenue, EBIT, consolidated net result and dividend. EBIT was €155 million, up 55% from €100 million in 2020. The EBIT margin increased from 6.5 % in 2020 to 8.4 percent in 2021. EBITDA was €244 million in 2021, up 29 % on the €189 million of 2020.

As the company started its 90th year in business, it reported growth in all its sales regions and said it has set a €2.0 billion target for revenue in 2022.

Much of the growth was attributed to the strength of the construction, timber and recycling sectors. “Long-term infrastructure packages and increasing investments in housing projects are driving the positive trend in the construction industry,” the company said.

Commenting on the result Andreas Klauser, Palfinger CEO, said, “This result shows how quickly Palfinger reacts to a volatile and challenging environment with the Global Palfinger Organization (GPO) and uses it to its advantage.”

The increase in revenue was achieved in the face of supply chain issues, including higher prices for materials, shipping and personnel and shortages of components, parts and raw materials.

For 2022 the company forecasts further growth with, for the first half of the year, reduced profitability. It expects improvement during the second half as a result of price increases. A €2.3 billion revenue target has been set for 2024, increasing to €3 billion for 2030.

Palfinger produced a record result for 2021 in the face of covid challenges and supply chain issues