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Palfinger hits record Q1 results

Palfinger has revealed its financial results for the year so far, reporting a 10 per cent increase in revenue, with a record-breaking target in sight.

Palfinger’s revenue has grown by a 11.8 per cent to $703 million (EUR 440.9 million) in the first quarter of 2019.

In terms of both revenue and earnings the company achieved record levels for its quarterly figures.

The main contributors to this rise in revenue were the North American and Europe, the Middle East and Africa regions.

“Our orders on hand are still high and incoming orders remained strong in the first quarter. Even in the marine business, the recovery of the oil and gas industry has been reflected in our order book. With our new organisational structure, we are now able to be faster and more focused in our actions,” Palfinger AG CEO Andreas Klauser said.

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At the start of 2019, Palfinger implemented its Global Palfinger Organisation (GPO) structure, which aimed to improve cooperation across the business units and find internal synergies and efficiencies.

Palfinger new structure divides the Land segment into the Sales and Service Land, and Operations Land segments.

Sales and Service land contains the sales and service units related to land-based product lines, with the crane, timber/recycling and hooklift product lines being the main contributors to the increase in the segment’s revenue.

As a result of strong order books, the company expects the outlook for 2019 will remain positive.

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