2023-07-28 08:55:28
Price increases, a good product mix, the decrease in raw material and freight costs and improvements in the supply chains have led to significant increases in sales, operating profit and net income. Accordingly, sales rose by 17 percent to EUR 1.21 billion. The consolidated result increased by almost 62 percent to EUR 63.3 million.
In terms of the operating result (EBIT), Palfinger achieved an increase of 39 percent to EUR 111.3 million in the first half of the year. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by around a third to EUR 157.9 million, as announced by Palfinger on Friday.
For 2023 as a whole, the company expects sales of EUR 2.4 billion and EBIT of EUR 200 million – both would be record figures. In 2027, sales of EUR 3 billion, a ROCE (Return on Capital Employed, note) of 12 percent and an EBIT margin of 10 percent are to be achieved.
The largest growth market for Palfinger is North America, where there is “enormous demand” for transportable forklifts (TMF), according to the company. As reported, Steyr Automotive will assemble truck-mounted forklifts for Palfinger for the North American market from September. By 2027, 1,700 units are to be manufactured there every year. In order to further expand the existing presence in North America, Palfinger also opened a new regional headquarters in Schaumburg, Illinois (near Chicago) in the first half of the year.
Palfinger employed an average of 12,565 people in the first half of 2023, following 12,135 before.
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