PALFINGER AG Shines with Exceptional Q1 Results

• Palfinger AG reported strong Q1 2024 results with EUR 578.5 million revenue, record EBIT of EUR 54.7 million, and consolidated net result of EUR 32.5 million.
• The company saw good development in North America, Asia, and the Marine Sector, despite a challenging economic environment and geopolitical uncertainties.
• There was a continued low order intake in European core markets, particularly in Germany, France, and Scandinavia.
• Palfinger's Marine sector saw revenue growth of around 30 percent due to orders from offshore wind farm projects in Japan and Taiwan, and growth in the servicing of cruise ships and offshore and marine cranes.
• The company successfully placed an oversubscribed ESG-linked promissory note loan to the value of EUR 160 million in Q1 2024. The loan will be used to refinance maturing loans and complete planned investments.
• Palfinger expects profitable growth in North America, Asia, and the Marine Sector for the rest of the year, but anticipates a slight decline in revenue and an EBIT around 20 percent below that of 2023 due to the continued low level of orders in the EMEA region.

The next important date, Quarterly report, at Palfinger is on 26.04.2024.

Palfinger

+1,17 %

-4,90 %

-6,56 %

-11,78 %

-29,77 %

-43,29 %

-25,35 %

-21,64 %

+134,78 %

ISIN:AT0000758305WKN:919964

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