Record revenue, driven by a strong performance in the Americas, has underscored a robust financial year for Palfinger.
The Austrian manufacturer of hydraulic lifting, loading and handling systems, which is also known for cranes, announced revenue of EUR2.23 billion (USD2.36 billion) – up by 20.9% on the previous year.
Its operating result of EUR150.4 million was down 3%.
Growth was underpinned by its response to changed circumstances brought by the war in Ukraine, including the supply of electronic components, with Palfinger ceasing its imports and exports to and from Russia.
A high order intake of the newly launched range of truck-mounted forklifts in the Americas brought a record revenue, with mining, civil engineering and agriculture as main drivers in Latin America.
Palfinger has implemented a flexible pricing model as a response to rapid cost increases which will see more stable profits this year.
Numerous future initiatives as part of Strategy 2030 were also applied, focusing on customer proximity, sustainable and profitable growth as well as leadership expansion.
The company has opened a new technology centre in Kostendorf, Austria, and was also present at leading trade shows, displaying its redesigned loader crane, new aerial work platforms and digital innovations.
Palfinger has moved towards e-mobility with the eWorX module, which was developed in co-operation with ZF Friedrichshafen AG and Mercedes-Benz Trucks – with the product used on high-voltage trucks.
“We therefore remain in line with our strategy of making targeted investments in the qualifications of our employees, future-oriented structures and research and development,” Palfinger reports.
“By 2027, sales are expected to rise to EUR3 billion (USD3.17 billion) with an EBIT margin of 10%.
“Optimal use of non-current assets is also expected to generate a return on capital employed of 12% by 2027.”