Double digit rises at Palfinger

29 October 2019

Palfinger

Palfinger again hits double digit increases

Record financial results have once again been reported by manufacturer Palfinger.

The Austrian crane and access equipment maker posted revenue at €1,300.6 million (US$ 1,443 million) for January to September 2019, up 10 per cent from the €1,182.6 million ($1,312 million) in the same period of 2018.

Earnings before interest, taxes, depreciation and amortisation (EBITDA) in the first nine months of 2019 were up 18.7 %, to €175.1 million ($194.3 million), from €147.6 million ($163.8 million) in the first three quarters of 2018. The EBIT margin was posted as 9.2 %.

Looking ahead Palfinger said the outlook for 2019 as a whole remains positive with the expectation for another record year. The company forecasts a revenue increase to €1.7 billion ($1.89 billion) in 2019 and that the EBIT margin will be 9 %. Continued growth potential sees the revenue forecast expected to rise to €2 billion ($2.2 billion) by 2022. Andreas Klauser, Palfinger CEO, said, “In spite of the recession fears, we are confident that we will be able to achieve our growth targets for 2022.”

 

 

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