EQS-News: Palfinger AG / Key word(s): Miscellaneous
PALFINGER AG: Leading Global Position and Outstanding Growth with Tenfold
Increase in Revenue Since IPO on June 4, 1999
05.06.2024 / 13:59 CET/CEST
The issuer is solely responsible for the content of this announcement.
══════════════════════════════════════════════════════════════════════════
PRESS RELEASE Bergheim, Austria on June 5, 2024
PALFINGER AG: Leading Global Position and Outstanding Growth with Tenfold
Increase in Revenue Since IPO on June 4, 1999
• Strong performance of PALFINGER shares, outperforming ATX
• Clear dividend policy with continuous payouts
• Palfinger family as stable core shareholder with 56.4 percent
• Focus for the next few years continues to be on sustainable and
profitable growth
On June 4, 2024, PALFINGER AG celebrated its 25th anniversary on the
Vienna Stock Exchange. This milestone marks a quarter century of growth
and innovation.
History and stock exchange listing
PALFINGER AG has been listed on the Vienna Stock Exchange since June 4,
1999. The share is part of the ATX Prime and ATX Global Players Index as
well as the Austrian Sustainability Index VÖNIX and has been included in
the MSCI Global Small Cap Index since 2018. In addition, the share is OTC
traded on the stock exchanges in Frankfurt, Stuttgart, Berlin, Munich and
Düsseldorf.
Successes since the IPO
“Since the IPO on June 4, 1999, PALFINGER has become established as the
world’s leading provider of innovative crane and lifting solutions. The
IPO made it possible to expand the financing base and achieve our
strategic goals. Access to capital markets has significantly supported
growth,” says Andreas Klauser, CEO of PALFINGER AG. Since the IPO, revenue
has increased tenfold from EUR 243 million to EUR 2.45 billion.
Share price development
The PALFINGER share price has more than quadrupled since the IPO with a
price of EUR 5.25. As a result, PALFINGER shares also outperformed ATX
during this period, which only increased by around three times during the
period. With a current share price of over EUR 24.0, PALFINGER AG is
listed on the stock exchange with a market capitalization of more than EUR
900 million. The current analyst consensus is EUR 28.5.
Dividend policy
PALFINGER pursues a continuous dividend policy, with around a third of the
annual profit being distributed to shareholders. For fiscal year 2023, a
record dividend of EUR 1.05 per share was paid out to shareholders. This
corresponds to a dividend yield of 4.0 percent.
Why the IPO?
The IPO has brought PALFINGER many advantages, including increased
transparency through regular reporting, improved access to capital for
growth initiatives, strengthening the brand through public awareness and
an expanded pool of investors with institutional and private shareholders
worldwide. “We have been able to successfully place several promissory
note loans, with the last two being linked to sustainability indicators,”
adds Felix Strohbichler, CFO of PALFINGER AG.
General information about PALFINGER shares
ISIN: AT0000758305
Stock symbol: PAL
Number of shares: 37,593,258 shares
Freefloat: 36.1%; Palfinger family 56.4%; treasury shares: 7.5%
Stock exchanges: Vienna Stock Exchange (Prime Market); OTC in Frankfurt,
Stuttgart, Berlin, Munich and Düsseldorf
+++
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 around 12,700 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 | (1)h.roither@palfinger.com
Texts and their accompanying images are available in the “News” section of
www.palfinger.ag and www.palfinger.com.
══════════════════════════════════════════════════════════════════════════
05.06.2024 CET/CEST This Corporate News was distributed by EQS Group AG.
www.eqs.com
════════════════════════════════════════ ══════════ ════════════════════════ Language: English Company: Palfinger AG Lamprechtshausener Bundesstraße 8 5020 Salzburg Austria Phone: +43 (0)662/2281-81101 Fax : +43 (0)662/2281-81070 Email: ir@palfinger.com
Internet: www.palfinger.ag
ISIN: AT0000758305
Listed: Vienna Stock Exchange (Official Market)
EQS News ID: 1918739
End of News EQS News Service
1918739 05.06.2024 CET/CEST
References
Visible links
1. h.roither@palfinger.com