Palfinger reports profitable 2020

By Alex Dahm26 February 2021

Revenue at Palfinger in 2020 was €1,533.9 million (US$1,884.2 million), down 12.5 percent on the €1,753.8 million ($2,126.5 million) of 2019.

Palfinger

Revenue at Palfinger in 2020 was €1,533.9 million (US$1,884.2 million), down 12.5 percent on the €1,753.8 million ($2,126.5 million) of 2019.

EBITDA at the Austrian manufacturer of cranes, aerial work platforms and materials handling machines was down by 15.6 % to €188.7 million ($228.9 million). The EBITDA margin was 12.3 %, down from 12.8 % in 2019. Operating income (EBIT) was €100.3 million ($121.7 million) down from €149.0 million ($180.7 million) in 2019. The company reported its lowest level of net debt since 2013.

“We were unable to escape the effects of the crisis,” said Andreas Klauser, Palfinger CEO, “through swift, targeted actions, we were able to actively counteract and further drive the ongoing transformation process.”

Klauser said the economic consequences of the crisis will also affect 2021. “Unpredictable change and the market risk from Covid-19 continue to exist.”

As if Covid wasn’t enough, the company then suffered a cyber attack at the end of January. One-off impacts of this will continue to be felt.

In outlook Klauser said, “Thanks to full order books, Palfinger has good coverage in the first half of 2021. All markets are expected to recover and further stabilise and we will start seeing this from summer onwards.”

Revenue for 2021 is forecast to exceed €1.7 billion ($2.1 billion) and the EBIT margin is expected to be 8 %. Looking further ahead the financial targets for 2024 are €2.0 billion ($2.4 billion) in revenue from organic growth, a 10 % average EBIT margin and a 10 % average ROCE over the business cycle, the company said.

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, World Crane Week Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Latest News
Crane industry sees stimulus surge
As the nation emerges from the pandemic, the finance sector is bullish about crane sales.
ACT 100 survey forms now available
Don’t miss the opportunity to be a part of the 16th ACT 100 list of North America’s top crane-owning companies.
ML Crane purchases 28th Liebherr
The Liebherr LR 1600/2 will serve customers in the wind, construction, power and petrochemical markets.
CONNECT WITH THE TEAM
D.Ann Shiffler Editor, American Carnes & Transport Tel: +1 512 869 8838 E-mail: d.ann.shiffler@khl.com
Matt Burke VP Sales Tel: +1 312 496 3314 E-mail: matt.burk@khl.com
CONNECT WITH SOCIAL MEDIA