Plus despite minus

Turnover at Palfinger fell, but not profits

Palfinger records profits despite stagnating or declining markets.(Bild: Markus Wenzel)

Despite losses, things are not going badly at Salzburg crane manufacturer Palfinger: sales revenue fell by three percent to 1.745 billion euros - the operating result fell by 3.8 percent, but the Group result remained almost unchanged at 90.8 million euros

The listed Salzburg crane manufacturer Palfinger has suffered a drop in revenue in the first three quarters of this year: According to the Bergheim-based company, the European core markets are stagnating, the US election would dampen demand in North America and the market in China is also weakening. Nevertheless, profits remained stable compared to the same period last year at EUR 90.8 million, according to the Group. For 2024 as a whole, the company expects a five percent decline in sales and a ten percent drop in operating profit.

The market in Germany in particular is stagnating, according to the press release. However, strong growth has been recorded in the Asia-Pacific region, primarily thanks to high demand from India. There was also growth in Brazil and Argentina. "Our geographical and product diversification has proven to be a decisive resilience factor in the first three quarters," said Group CEO Andreas Klauser according to the press release.