EQS-News: PALFINGER AG – strong results in 1st HY 2024, further capacity adjustments necessary in EMEA
 EQS-News: Palfinger AG / Key word(s): Half Year Results
 PALFINGER AG – strong results in 1st HY 2024, further capacity adjustments
 necessary in EMEA

 26.07.2024 / 07:01 CET/CEST
 The issuer is solely responsible for the content of this announcement.

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 PRESS RELEASE                Bergheim, Austria. July 26, 2024

 PALFINGER AG – strong results in 1st HY 2024,
 further capacity adjustments necessary in EMEA
  

   • Revenue: EUR 1,175.4 million; EBIT: EUR 112.2 million; very good EBIT
     margin of 9.5 percent
   • Good development in North and Latin America, Asia and the Marine sector
   • Due to the difficult market environment in Europe, a weaker second half
     year result is expected
      

 in EUR million          1st HY/2022 1st HY/2023 1st HY/2024 %
 Revenue                 1,039.0     1,214.9     1,175.4     -3.3%
 EBITDA                  119.5       157.9       156.4       -0.9%
 EBIT                    80.2        111.3       112.2       +0.8%
 EBIT margin in %        7.7         9.2         9.5         –
 Consolidated net result 39.2        63.3        68.3        +7.9%
 Employees^1)            12,135      12,565      12,651      –

 1) Reporting date figures of consolidated Group companies are indicated without
 equity investments and without contract workers.

 In the first half of 2024, PALFINGER AG recorded revenue of
 EUR 1,175.4 million, an operating result (EBIT) of EUR 112.2 million and
 consolidated net income of EUR 68.3 million. PALFINGER AG thus generated a
 strong result despite geopolitical uncertainty and a challenging market
 environment in the European core markets.

 Positive development in most regions – EMEA still at a low level
 PALFINGER recorded strong demand for service cranes and truck-mounted forklifts
 in the North American market (NAM). The ongoing good economic situation and
 infrastructure investments are ensuring a positive market environment.
 Profitability in NAM increased significantly.

 Thanks to strong demand for loader cranes in the emerging Indian market, the
 Asia region (APAC) showed good growth from a low level, although there is still
 no recovery to be seen in China.

 In Latin America (LATAM) a positive trend can be seen, mostly driven by Brazil,
 its largest economy.

 The Marine Division recorded a significant increase in growth and profitability
 caused by additional service business and orders for offshore and marine
 cranes.
  
 In the EMEA region, order intake remains at a low level, particularly in the
 core European markets of Germany, France and Scandinavia. Due to strong tourism
 and infrastructure projects, Southern Europe continues to show a positive
 trend, especially Spain, Portugal, Italy and Greece.

 "PALFINGER AG began preparing early for significantly more volatile conditions
 in the long term. The product mix and global positioning, which proved to be a
 key resilience factor in the first half of 2024, played an important role,"
 stated Andreas Klauser, CEO of PALFINGER AG. "The markets for access platforms
 as well as offshore and marine cranes remained stable."

 PALFINGER continues to invest in future growth
 The Löbau production site in Germany has been significantly expanded and
 extended in order to fully exploit the growth potential in access platforms.
 Production started successfully in May this year, positioning Löbau as a
 central part of PALFINGER's global development and innovation network.

 In Madrid, an investment was made in acquiring land for a new Sales and Service
 Hub. The new location creates synergies and supports the servicing of the
 Spanish market.

 PALFINGER’s Global Sales & Service Conference with over 300 participants from
 more than 60 countries across all continents took place in June. In particular,
 strategies and concepts were developed to proactively meet the current economic
 challenges.

 Outlook
 PALFINGER expects continued positive development in the NAM, APAC, LATAM
 regions and in the Marine sector. Due to the persistently low order intake in
 Europe, further capacity adjustments in production are necessary. For the full
 year, a slight decline in revenue compared to 2023 (revenue: EUR 2,446 million)
 is expected. The EBIT forecast is up to 20% below the figure for the record
 year 2023 (EBIT: EUR 210.2 million). PALFINGER has set a target of
 EUR 3.0 billion in revenue for 2027 with an EBIT margin of 10 percent and ROCE
 of 12 percent.

 Here you can find the PALFINGER AG interim report of the first half of
 2024:(1)https://www.palfinger.ag/en/investors/publications/finance-publications
 The online version of the results presentation of the first half of 2024 is
 available
 here: (2)https://www.palfinger.ag/en/investors/publications/presentations

 +++

 ABOUT PALFINGER AG
 PALFINGER is an international technology and mechanical engineering company and
 the world’s leading producer and provider of innovative crane and lifting
 solutions. With 12,650 employees (without contract workers), 30 manufacturing
 sites and a worldwide sales and service network of around 5,000 service points,
 PALFINGER creates added value from the challenges of its customers. PALFINGER
 is consistently continuing on its course as a provider of innovative, complete
 solutions that deliver increased efficiency and better operability, while
 leveraging the potential of digitalization along the entire production and
 value chain.

 PALFINGER AG has been listed on the Vienna stock exchange since 1999, and in
 2023 achieved record revenue of EUR 2.45 billion.

 For further information please contact:  
 Hannes Roither | Group spokesperson | PALFINGER AG  
 T +43 662 2281-81100 | (3)h.roither@palfinger.com 

 Texts and their accompanying images are available in the “News” section of
 www.palfinger.ag and www.palfinger.com.

  

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 26.07.2024 CET/CEST This Corporate News was distributed by EQS Group AG.
 www.eqs.com

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   Language:    English
   Company:     Palfinger AG
                Lamprechtshausener Bundesstraße 8
                5020 Salzburg
                Austria
   Phone:       +43 (0)662/2281-81101
   Fax:         +43 (0)662/2281-81070
   E-mail:      ir@palfinger.com
   Internet:    www.palfinger.ag
   ISIN:        AT0000758305
   Listed:      Vienna Stock Exchange (Official Market)
   EQS News ID: 1954569


    
   End of News EQS News Service


   1954569  26.07.2024 CET/CEST

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