The operating result rose from EUR 48.9 million in the same period last year to EUR 54.7 million. The company announced on Friday that its consolidated result increased by more than a quarter to 32.5 million euros. Quarterly sales, however, fell by 2.2 percent to 578.5 million euros.
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According to information, Palfinger further increased earnings in its largest growth region of North America in the first quarter of 2024 and increased production output for service cranes and aerial work platforms. In addition, the crane manufacturer in the marine sector benefited from orders from offshore wind farm projects from Japan and Taiwan, among other things.
Growth expected in North America and Asia
In Europe, however, “macroeconomic and geopolitical upheavals” continued to cause weak incoming orders, particularly in the core European markets of Germany, France and Scandinavia. The southern European countries, especially Spain and Portugal, continued to develop “very positively”.
In the “currently difficult and geopolitically uncertain environment,” Palfinger expects growth in the North America and Asia regions as well as in the marine sector. Due to the persistently low order intake in Europe, production was reduced. For the year as a whole, the crane manufacturer expects a slight decline in sales compared to 2023 (2.45 billion euros) and an EBIT that is expected to be around 20 percent below the record year of 2023 (210.2 million euros).
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Source: Nachrichten
