28.10.2025

Another weak quarter for Palfinger

Austrian crane and aerial lift manufacturer Palfinger has posted lower third quarter sales and profits

Total revenues for the nine months to the end of September were €1.68 billion 3.5 percent lower than in the same period last year. Although 18.7 percent of revenues came from services, a new record. The order book at the end of September was 2.3% higher than this time last year at €993.9 million, still well below where it was in 2023.

In Europe, the Middle East and Africa region, order intake remained solid while in North America US tariffs, led to a decline in demand and profitability in the United States. On the other hand, the company saw record demand in South American driven by strong developments in Brazil. Asia Pacific continued to improve thanks in part to India, where the company is seeing positive increases. The Marine business has also seen strong revenue growth and profitability.

Pre-tax profit fell 16 percent to €104.85 million, while net debt at the end of September was 24 percent lower than this time last year at €577.2 million.

Third quarter revenues declined almost six percent to €544.7 million, while pre-tax profit slumped over five percent to € 32.5 million.

Full year outlook

The company is forecasting a stronger fourth quarter, but not sufficiently strong to offset the impact of tariffs in the USA on sales and profit, with 12 month revenues likely to be in the region of €2.25 to €2.3 billion.

Chief executive Andreas Klauser said: " These regional differences show how important it is to act proactively and flexibly, and to seize opportunities as they arise. This approach enables us to achieve profitable growth, even under challenging circumstances."

Vertikal Comment

Another weak quarter from Palfinger but given the current economic uncertainties the company is holding up quite well. It is good to hear that much of Europe is picking up, but the US and Germany are both looking a tad grim at the moment.

The company remains in good shape in terms of product range, reputation and the balance sheet, while cash flow remains strong. It will be interesting to hear more about what it plans to do to offset the current challenges in the USA. There is no easy short term solution, although Palfinger is probably better placed than many of its key competitors.