As a result of the Ukraine war, the operating result (EBIT) for 2022 “from today’s perspective will be well below the EBIT for the record year 2021,” as the company announced on Monday evening. The production volume will be reduced in the coming weeks, “with a corresponding negative impact on sales and profitability”.
The Ukraine crisis hit the company because of its business volume in Russia, explained Palfinger. The crisis also causes “a further aggravation of the availability problems of trucks and components”.
In the past 2021 financial year, Palfinger had achieved a strong increase in profits. The operating result (EBIT) rose from EUR 100 million in 2020 to EUR 155 million. That was even more than in the pre-Corona year 2019 with 149 million euros. Net profit increased year-on-year by 74 percent to EUR 87 million, also higher than in 2019. Revenue climbed from EUR 1.54 billion to EUR 1.84 billion, after EUR 1.75 billion in 2019.
Source: Nachrichten
