30.07.2026

Mixed result for Palfinger

Austrian loader crane and aerial lift manufacturer Palfinger has published its half year results to the end of June, showing a small improvement in revenue compared to the same period last year but lower profits.

Total revenues for the six months to the end of June were €1.65 billion, +2.3% on last year, with all of the gain coming from Europe, with Northern Europe looking more positive, but Southern Europe making the biggest contribution.

The numbers were made up as follows:
Europe/Africa/Mid East:€735.5 million +10.1%
North America: €266 million (-8%)
South/Central America: €59.2 million (-6%)
CIS countries: €43.1 million (-6%)
Asia Pacific: €60.8 million (-19.5%)

Pre-tax profit, however, declined again, falling 2% to €70.9 million, while net debt at the end of June was €687.7 million, down 10 percent on this time last year.

First half order intake was buoyed by some large orders totalling around €100 million, maintaining the order
book/backlog within a percentage point of last year at €973 billion. Services as a share of the total slipped in percentage terms from 18.7% to 17.1% due, says the company, to challenges in the Middle East.

Net debt was cut by 23.5% compared to this time last year, to 526.7 million.

Second quarter revenues were €604 million, up 3% on the same quarter of 2025, while pre-tax profit slipped 14% to €35 million.

Chief executive Andreas Klauser said: “Market uncertainty increased noticeably in the second quarter, delaying investment decisions in key markets. In this environment, we remain focused on executing our Strategy 2030+, improving efficiency by increasing our use of artificial intelligence, for example, and further strengthening our market position for the long term.”

Vertikal Comment

It would be easy to draw the conclusion that Palfinger has stagnated, but this is almost certainly not the case. It is spending more on R&D and has some first class products, it is also making some progress in the marine and offshore wind market.

The company is, it could be argued, too dependent on Europe, but that is where the major markets are for its main product lines. It looks as though the first half performance will continue through the second half, and that the company may have to dilute its longer term growth aspirations.

Unless…. It can step up its distribution and marketing efforts. It will also be helped over the longer term by growth in the articulated loader crane market, especially in North America and parts of Asia.

Let's see how it goes.