Image: Palfinger
Image: OÖNGraphik
Even though Palfinger AG’s course has moved “quite jaggedly” in recent years (as moderator and deputy head of the economic department Sigrid Brandstätter noted), CEO Andreas Klauser exudes confidence. The global crane and lifting specialist with around 12,200 employees is heading for a record this year despite the difficult economic situation and the weakening construction sector.
Sales are expected to be 2.4 billion euros and the operating result (EBIT) to be 200 million euros. The reasons include price increases, a good product mix, a decrease in raw material and freight costs, improvements in supply chains and a reduction in inventory.
Image: OÖNGraphik
Palfinger is around 40 percent dependent on the economic wind that blows in Europe. But corporations and customers such as the construction and transport company Felbermayr in Wels do not adapt their investment plans based on daily developments like small roofers, says Klauser.
The Palfinger dividend yield should also be enjoyable. At a price of around 23 euros per share and a dividend of 0.77 euros, it is currently 3.35 percent. Klauser gives hope that things will soon improve. “In the next few years it will be at the upper value of our targeted range of two to five percent,” said the Palfinger boss. Klauser brought further good news to the OÖN money day. A North American competitor in forestry cranes has announced that it is quitting, which improves the situation for Palfinger.
Klauser threw the solid core shareholder, the Palfinger family, into the mix. It holds 56.4 percent directly and indirectly. The free float is 36 percent. Incidentally, the price has quadrupled since it was listed on the stock exchange in 1999. The Palfinger share is currently trading at around 23 euros. The 52-week high was (keyword jagged) at 32.85 euros; an annual low of 19.92 euros.
- Also read: Money Day: “Then all of you in the room are future millionaires”
Fair solution instead of strike
For fans of “domestic industry” it can also be an additional argument that Palfinger operates a large factory in Upper Austria, in Lengau in the Braunau district.
Klauser watched the wage negotiations in industry with concern. “We have to get back to work,” said the Palfinger boss, who calls for a solution-oriented approach instead of strikes and for a fair result for both sides.
A wage increase in the direction of nine percent has been priced in at Palfinger. However, when demands are higher, one must remember that Austria as a location must continue to function in the future, says Palfinger boss Klauser.
more from economics
