28.10.2026

Mixed quarter for Palfinger

Austrian crane and aerial lift manufacturer Palfinger has posted its third quarter results with a modest pick-up in year to date sales, but lower profits.

Total revenue for the nine months to the end of September was €1.62 billion, 3.9% higher 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.

Pre-tax profit fell 2.1% percent to €99.8 million, while net debt at the end of September was almost two percent lower than this time last year at €567.2 million.

Third quarter revenues declined just over 15% to €5460 million, while pre-tax profit slumped over 11% to € 28.9 million.

Full year outlook

The company is forecasting the full year to come in slightly above that achieved in 2025, so possibly back to 2024 levels at roughly €2.37 billion? But with lower profit, partly due to write-offs associated with the disposal of its tail lift business, so a pre-tax in the region of €130 million.

Chief executive Andreas Klauser said:"We cannot influence geopolitical and economic conditions, but we can certainly influence our decisions. That is why in Q3 we have adjusted our portfolio, expanded our efficiency program, and consistently brought our organisation closer to the markets. We are strengthening the resilience of Palfinger as a result.”

“Market conditions across Europe were mixed. Demand remained solid in Northern and Southern European markets, while the market environment in our largest sales market, Germany, remained subdued. Positive effects from the German government’s infrastructure initiative have not yet been noticeable.”

“In North America, the commercial vehicle market showed the first signs of recovery. However, in the USA, demand in key product areas remained at a low level. Continued customer caution regarding investments kept capacity utilisation across production networks low and weighed on profitability. The loader crane business reached a record level, also benefiting from investments in data centres.”

“Business in Latin America developed solidly despite weaker market conditions across the entire region. Positive signals came from the mining sector in particular.”

“The Marine business continued to develop positively. Marine and Wind Cranes as well as the Cruise sectors continued to see good market development. Business involving the public sector and government authorities also developed positively.”

Vertikal Comment

Palfinger has been changing over the past year or two as it focuses on what it considers to be core markets: loader cranes, marine/wind and to some extent work platforms. It has also stepped up R&D spending this year, while other costs have escalated, something that it is dealing with.

The sale of its tail lift business has apparently been agreed and now shows below the line as a discontinued operation. It is also ‘deconsolidating’ its Russian business, given the lack of any signs of a change in the situation there.

Allowing for all this, 2026 should be an OK year, with promise of better things to come in 2027, depending of course on world affairs and developments.