23.02.2023
Record sales lower profits for Palfinger
Austrian crane and aerial lift manufacturer Palfinger has published its full year results for 2022.
Total revenues for the year increased 21 percent to €2.23 billion, the first time the company has exceeded the €2 billion level. Pre-tax profits however slipped seven percent to €133.7 million.
The falling profits were a result of steep rises in the cost of components, energy and materials, while the strong order book at the start of the year restricted the possibility of passing the higher costs on to customers through price increases.
The company says that 2023 has started strongly and is likely to significantly exceed that achieved in the same quarter of 2022, both in terms of revenues and profitability. The company is now forecasting to hit €3 billion by 2027.
The statement continued: “Palfinger looks back on an eventful and successful fiscal year in 2022. In a challenging economic environment characterised by the war in Ukraine, massively impacted supply chains, supply bottlenecks for electronic components and truck chassis, as well as enormous cost increases, the company recorded an all-time high in revenues of €2.23 billion and the company's second best operating result of €150.4 million."
More details on the results will be released at a press conference tomorrow.
Construction_Influencer
First of all a big applause - this message isn't just a good one for company Palfinger. It's a sign for the whole branche that we should be confident about our success and we should believe that we can get out of the crisis as fast as possible.