Palfinger breaks more records in 2023 financials

Palfinger continues to expand, here in North America in 2023. Photo: Palfinger

It has become the norm for Palfinger to break its own records when it comes to financial performance and in 2023 it broke three – revenue, EBIT and its consolidated net result.

The Austrian crane, work platform and materials handling machinery manufacturer hit a record revenue of €2.45 billion in 2023, up almost 10 per cent on the €2.23 billion of 2022. Its EBIT operating result, at €210.2 million, was up 39.8 % on the €150.4 million the previous year.

At 8.6 % the EBIT margin was the company’s highest since 2008.

The consolidated net result (profit), at €107.7 million, was up 50.8 % from €71.4 million in 2022.

The company pointed out that these record results were achieved in a year of uncertainty around the world with rising interest rates and high inflation. Factors contributing to the success included the easing of supply chain issues, previously implemented price increases took effect and production capacity was fully utilised.

Looking ahead, the company said it saw a very challenging market, especially in Europe but said the order backlog gave visibility until the end of the second quarter 2024.