Balance sheet 1st quarter

Palfinger with more profit and less revenue

(Bild: APA/PALFINGER)

The listed Salzburg-based crane manufacturer Palfinger has reported record figures for its operating result (EBIT) and net profit in the first quarter of 2024. The operating result rose from 48.9 million euros in the same period of the previous year to 54.7 million euros. Consolidated net income increased to 32.5 million euros. Quarterly turnover fell by 2.2 percent to 578.5 million euros.

For the year as a whole, the crane manufacturer anticipates a slight decline in turnover compared to 2023 (EUR 2.45 billion) and an EBIT that is expected to be around 20 percent below the record year 2023 (EUR 210.2 million).

North America largest growth region
According to the information provided, Palfinger further increased earnings in its largest growth region, North America, in the first quarter of 2024 and increased production output for service cranes and access platforms. The crane manufacturer also benefited in the marine sector from orders from offshore wind farm projects in Japan and Taiwan, among other things.

In Europe, on the other hand, "macroeconomic and geopolitical upheavals" continued to result in weak order intake, particularly in the core European markets of Germany, France and Scandinavia. Southern European countries, particularly Spain and Portugal, continued to develop "very positively".