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Palfinger is running business in Russia on the side for the time being

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Andreas Klauser (city photo)
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Despite the ongoing crisis, the listed Salzburg crane manufacturer Palfinger has increased its group turnover by a fifth to 2.23 billion euros. The consolidated result collapsed by almost a fifth to 71.4 million euros.

The Russian business, which accounts for around seven percent of group sales and for 1,400 of the 12,000 employees worldwide (3,000 in Austria), worries the group management. You always have to expect forced expropriation, but don’t plan a “proactive exit,” says Palfinger boss Andreas Klauser. The organization in Russia acts independently, “without support, financing and data flow” from the parent company. The result is surprisingly stable.

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North America is the sales driver with a 23 percent share of sales. The question of energy costs does not arise in America, the US economy is growing rapidly and there is a demand for many of Palfinger’s “portable forklifts”. “It’s a success story, sales are above expectations,” said the CEO. Transportable forklifts are transported on the outside of trucks so that goods can be loaded and unloaded quickly and easily anywhere.

Klauser also sees great potential for growth in cranes for offshore wind farms.

Palfinger introduced dynamic prices for the first time – “an innovation in our industry”. The asking price is tied to the EU manufacturing cost index so that you don’t have to absorb sharp cost increases yourself.

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