Palfinger optimistic despite revenue fall

Palfinger said a strong final quarter of its year to 31 December in its important European, Middle East and Africa sales territory – particularly in France, Germany and Scandinavia – gave it confidence going forward, even as it reported a 3.5% decline in revenues for 2024.

Sales for the Austrian crane, tailift and aerial platform manufacturing business were €2.36 billion, down 3.5% on 2023. EBITDA profits declined by 8.6% to €277 million.

Examples of Palfinger’s TEC range of loader cranes.

The company said demand in North America weakened last year – impacted by the November presidential election - while sales in Europe were recovering and would have a positive impact by the second quarter of this year.

There was a “strong” order intake in Latin America, led by Brazil and Argentina, while in Asia there was no sign of a recovery in China, but India continued to emerge as an important market.

The OEM is investing €25 million on an assembly facility in India, focused on assembling loader cranes, hooklifts and aerial platforms. It is targeting sales of €300 million by 2030 in Asia Pacific.

Production facilities at its plant in Löbau, Germany, were modernised and expanded during the year and production started at the new plant in Niš, Serbia.

Palfinger is building an assembly plant in India for aerial platforms, cranes and hooklifts.

Palfinger anticipates that the overall economic environment would continue to improve this year; “The decline in earnings in the first half of 2025 is expected to be significantly compensated in the second half of the year, resulting in a strong year overall.”

Andreas Klauser, Palfinger’s CEO, said; “The waste management and recycling, forestry, public sector, marine, as well as transportation and logistics industries are becoming increasingly important and already accounted for 65% of revenue in 2024. This diversification was a key factor in last year’s success.”