EQS-News: PALFINGER AG: PALFINGER AG Revenues Shatter EUR 2 Billion Mark
EQS-News: Palfinger AG / Key word(s): Annual Results
PALFINGER AG: PALFINGER AG Revenues Shatter EUR 2 Billion Mark
23.02.2023 / 15:31 CET/CEST
The issuer is solely responsible for the content of this announcement.
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Bergheim, Austria on February 23, 2023
PALFINGER AG Revenues Shatter EUR 2 Billion Mark
• Consolidated revenue 2022 reached EUR 2.23 billion, an increase of
20.9 percent compared to the previous year
• EBIT EUR 150.4 million, dividend proposal of EUR 0.77 per share
• Aiming for a record year in revenue and EBIT in 2023
Today, the Supervisory Board of PALFINGER AG announced the annual
financial statements for 2022 and, together with the Executive Board,
decided to propose a dividend of EUR 0.77 per share to the Annual General
Meeting on March 30, 2023, as in the previous year. The hybrid press
conference and balance sheet presentation will take place tomorrow,
Friday, February 24, 2023, at 10 a.m. in Vienna. This press release
presents in brief the most important developments and results.
PALFINGER AG looks back on an eventful and successful fiscal year in 2022.
In a challenging economic environment characterized by the war in Ukraine,
massively impacted supply chains, supply bottlenecks for electronic
components and truck chassis, as well as enormous cost increases, the
global technology and engineering company recorded an all-time high in
revenues of EUR 2.23 billion and the company’s second-best operating
result of EUR 150.4 million.
EBIT reflects exploding costs
The operating result fell slightly from EUR 155.0 million in 2021 to EUR
150.4 million. At 6.8 percent, however, the EBIT margin is significantly
below the previous year’s figure of 8.4 percent. This is largely due to
the massive cost increases as a result of the Russian attack on Ukraine
and the delay in the company’s own price increases, which took effect much
later due to the high order backlog. At EUR 71.4 million, the consolidated
net result is significantly below the previous year.
Outlook 2023: Aiming for record revenue and record EBIT
PALFINGER has had an excellent start to the new year. Q1 2023 is expected
to significantly exceed the comparable quarter of the previous year in
terms of both revenue and EBIT (EUR 485.6 million in revenue and EUR 30.4
million EBIT in Q1 2022).^*) PALFINGER is also optimistic for fiscal year
2023 as a whole and is aiming for new records in revenue and EBIT. In
addition, the strong performance in 2022 opens up a new financial goal. In
2027, a revenue of EUR 3.0 billion is expected with an EBIT margin of 10
percent and a return on capital employed of 12 percent.
* Experience shows that deviations in earnings figures from the previous
year or from analysts‘ estimates are more pronounced in Q1 or Q2, as
individual effects have a stronger percentage effect on the lower base,
without this resulting in a deviation from the communicated guidance for
the full year.
The PALFINGER AG annual report for 2022 is available here:
[1] https://www.palfinger.ag/en/investors/publications/finance-publications
Here is the magazine “&beyond” that accompanies the PALFINGER AG annual
report 2022:
[2] https://www.palfinger.ag/en/investors/publications/finance-publications
+++
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 over 12,200 employees*, more than 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 2022 achieved record revenue of EUR 2.2 billion.
*Without contingent workers.
For further information please contact:
Hannes Roither | Group spokesperson | PALFINGER AG
T +43 662 2281-81100 | [3]h.roither@palfinger.com
Texts and accompanying images are available in the “News” section of
www.palfinger.ag, www.palfinger.com.
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23.02.2023 CET/CEST This Corporate News was distributed by EQS Group AG.
www.eqs.com
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Language: English
Company: Palfinger AG
Lamprechtshausener Bundesstraße 8
5020 Salzburg
Austria
Phone: +43 (0)662/2281-81101
Fax: +43 (0)662/2281-81070
E-mail: ir@palfinger.com
Internet: www.palfinger.ag
ISIN: AT0000758305
Listed: Vienna Stock Exchange (Official Market)
EQS News ID: 1567023
End of News EQS News Service
1567023 23.02.2023 CET/CEST
References
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3. h.roither@palfinger.com
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