Slides
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Q1/2025 Bergheim, April 25, 2025 PUBLICATION OF RESULTS
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2 NUMBER 1 IN THE WORLD Global market leader for crane and lifting solutions with revenues of EUR 2.36 billion in 2024. Around 12,360 employees1) end of Q1/2025 Present in all regions with 30 production sites and a global, comprehensive sales and service network. 1 Revenue distribution by region Q1/2025: 60% 26% 5% 5% 4% CIS2) EMEA NAM LATAM APAC 2) The value of all assets in Russia amounts to approx. EUR 185 million 1) Excluding equity investments and excluding temporary workers. 2
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HIGH ORDER INTAKE PROVIDES SOLID FOUNDATION FOR THE FULL YEARQ1/2025 DECLINES IN REVENUE AND PROFIT AS FORECASTED INCREASED ORDER INTAKE SINCE Q4/2024, ESPECIALLY IN EMEA FURTHER REDUCTION IN FINANCIAL DEBT 3
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PALFINGER MARINE secures order to equip Royal Caribbean's Icon Class with innovative rescue equipment. PALFINGER at bauma 2025: Innovative lifting solutions with exclusive world premieres and more than 100,000 visitors. Annual General Meeting approves dividend of EUR 0.90, grants authorization to purchase and sell treasury shares and elects Marianne Heiß to the Supervisory Board. 4 SIGNIFICANT EVENTS IN Q1/2025
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RESILIENCE THROUGH INDUSTRY DIVERSITY 13% TRANSPORT & LOGISTICS 12% MARINE 13% INFRA- STRUCTURE 12% BUILDING CONSTRUCTION 10% PRIVATE HOUSING 11% WASTE MANAGEMENT & RECYCLING 12% PUBLIC SECTOR & RAILWAY 10% FORESTRY 7% RENTAL 5
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INNOVATIVE AND POWERFUL PRODUCT PORTFOLIO LOADER CRANES TIMBER / RECYCLING HOOK LIFTS & SKIPLOADERS TAIL LIFTS TURNKEY SOLUTIONS PASSENGER SYSTEMS AERIAL WORK PLATFORMS RAILWAY SYSTEMS TRUCK-MOUNTED FORKLIFTS OFFSHORE CRANES MARINE CRANES WINCHES DAVITS BOATS WIND CRANES DIGITAL SOLUTIONS 6
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SUSTAINABILITY IS A KEY COMPONENT OF THE STRATEGY AND A DRIVER OF FURTHER GROWTH Low carbon emissions2 CO2e 10,913 - 1% vs. Q1/2024 High working safety Accident rate (TRIR1) 8.48 + 14% vs. Q1/2024 2) Scope 1 and 2 emissions (direct and indirect emissions) as at the end of March 2025. The figures presented contain estimates to a minor extent. The final value may therefore differ slightly. 1) (total reportable injuries / 1 million working hours) 7
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SEGMENT Vision and Strategy 2030 SALES & SERVICE 8
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POSITIVE GLOBAL DEVELOPMENT NAM: slight growth but subdued demand, Trump’s tariff policy is causing great unrest and uncertainty. APAC: Growth in the emerging Indian market. Modest recovery in Chinese market. MARINE: Earnings and revenue at a high level – good demand in service and offshore cranes. EMEA: Core markets recover, further increase in order intake. LATAM: Brazil and Argentina with revenue growth and increased earnings. Sales & Service segment 9
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RISING ORDER BOOK SINCE Q4/2024 AND A SIGNIFICANT INCREASE IN SERVICE SHARE 1) The carve-out of Tail Lift NAM took place in the 2024 fiscal year. A retrospective adjustment of the previous period (2023) in accordance with IFRS 8.29 was not carried out as the required information is not available and the costs of preparing it would be excessive. Sales & Service segment in EUR million Q1/20231) Q1/2024 Δ% External revenue 530.0 513.3 -3.5% EBITDA 50.4 64.6 -9.6% EBIT 44.6 59.6 -11.1% EBIT margin 8.4% 11.6% – Q1/2025 495.2 58.4 53.0 10.7% in EUR million Q1/20231) Q1/2024 Δ% Order book 1,487 1,161 -11.2% Service business share 16.4% 17.6% Q1/2025 1,032 19.6% 10
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SEGMENT Vision and Strategy 2030 OPERATIONS 11
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12 GROWTH IN ORDER INTAKE REQUIRES CAPACITY INCREASE IN EMEA Reduced external revenue in production for third parties due to the difficult economic environment. Capacity expansion in LATAM as a result of high order intake in Brazil and Argentina. Increase in production capacity in EMEA initiated due to positive development in order intake. Operations segment 12
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PERFORMANCE IMPACTED BY LOWER UTILIZATION Operations segment in EUR million Q1/2023 Q1/2024 Δ% External revenue 47.5 38.2 -9.9% EBITDA 27.5 23,3 -52.8% EBIT 17.1 11.5 -111.3% Q1/2025 34.4 11.0 -1.3 13
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Vision and Strategy 2030 SEGMENT OTHER NON-REPORTABLE SEGMENTS 14
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CONTINUED POSITIVE EARNINGS CONTRIBUTION FROM TAIL LIFTS 1) The carve-out of Tail Lift NAM took place in the 2024 fiscal year. A retrospective adjustment of the previous period (2023) in accordance with IFRS 8.29 was not carried out as the required information is not available and the costs of preparing it would be excessive. Other non-reportable segments in EUR million Q1/20231) Q1/2024 Δ% External revenue 14.1 27.1 -15.1% EBITDA -8.3 -11.3 +44.2% EBIT -12.8 -16.4 +29.3% Q1/2025 23.0 -6.3 -11.6 15
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PALFINGER Vision and Strategy 2030 GROUP 16
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REVENUE AND EARNINGS IN Q1 CURRENTLY BELOW PREVIOUS YEAR In accordance with IFRS, slight rounding differences possible. PALFINGER Group in EUR million Q1/2023 Q1/2024 Δ% Revenue 591.6 578.5 -4.5% EBITDA 69.6 76.6 -17.8% EBIT (operating result) 48.9 54.7 -26.7% EBIT margin 8.3% 9.5% - Consolidated net result 25.6 32.5 -32.3% Q1/2025 552.5 63.0 40.1 7.3% 22.0 17
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In accordance with IFRS, slight rounding differences possible. IMPROVEMENT IN GEARING AND EQUITY – FURTHER REDUCTION IN FINANCIAL DEBT *) ROCE = Ratio of NOPLAT and average capital employed (reporting date of previous year to reporting date of this year) PALFINGER Group in EUR million 31.03.2023 31.03.2024 Equity 675.6 739.2 Equity ratio 33.6% 33.9% Net debt 641.4 698.5 xx Gearing 94.9% 94.5% Net debt/EBITDA 2.57 2.25 ROCE*) 9.6% 11.5% 31.03.2025 806.0 36.3% 639.7 79.4% 2.43 9.2% 18
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EUR 21 MILLION FREE CASH FLOW ALREADY IN Q1 PALFINGER Group in EUR million Q1/2023 Q1/2024 EBTDA 63.8 66.7 +/- non-cash income from at-equity companies 2.5 1.0 +/- change in working capital -29.9 -44.3 +/- cash flow from tax payments -0.7 -11.0 Cash flow from operating activities 35.7 12.4 +/- cash flow from investing activities -50.5 -36.2 Cash flow after changes in working capital and investments -14.7 -23.7 +/- cash flow from interest on borrowings adjusted for tax expenditure 4.1 8.0 Free cash flow -10.7 -15.7 Q1/2025 54.4 1.2 -11.6 -7.6 36.4 -22.7 13.7 7.1 20.7 In accordance with IFRS, slight rounding differences possible. 19
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POTENTIAL SALE OF TREASURY SHARES 20 Ad hoc announcement dated April 1, 2025: Start of the evaluation of a private placement of the 2,826,516 treasury shares. Planned use of the proceeds from a possible transaction: among other things, expansion of service structures, exploitation of growth opportunities, particularly in North America, and increased investment in the defense business. Additional advantages: Increase in the liquidity of the share and free float, improvement in balance sheet ratios. The aim is implementation in 2025, depending on an attractive capital market environment, the PALFINGER AG share price performance and the level of interest from potential investors. The Executive Board currently considers the share to be significantly undervalued. Based on an agreement with Sany to dissolve the cross-shareholding: Repurchase of treasury shares in July 2022, purchase price of EUR 35.20 per share.
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OUTLOOK
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APAC – GROWTH STRATEGY Tailored strategies for India, China, and the rest of the Asian region, including exports to other regions. Construction of an assembly plant in India for loader cranes, hookloaders and aerial work platforms. Investments of more than EUR 25 million and creation of approximately 180 new positions. Planned start of production in Q1/2027. Target: EUR 300 million in revenue by 2030. 22
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WE ARE AIMING FOR THE SECOND-BEST FINANCIAL YEAR IN THE COMPANY'S HISTORY 23 The target for 2025 is to increase revenue and EBIT compared to the previous year. Positive momentum in share price performance since the start of the year despite uncertainty caused by US customs policy. Recovery in order intake in the European core markets - positive earnings development expected from Q2 onwards.
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Market leader in crane and lifting solutions FINANCIAL TARGETS FOR 2027 – SIGNIFICANT INCREASE IN REVENUE TARGETED #1 € 2.7 billion Revenue from organic growth 10% EBIT margin >12% ROCE 24
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Q&A
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+43 662 2281-81008 a.klauser@palfinger.com +43 662 2281-81006 f.strohbichler@palfinger.com +43 662 2281-81100 h.roither@palfinger.com PALFINGER AG Lamprechtshausener Bundesstraße 8 5101 Bergheim www.palfinger.ag INVESTOR RELATIONS CONTACT ANDREAS KLAUSER CEO FELIX STROHBICHLER CFO HANNES ROITHER VP IR This presentation contains forward-looking statements that were based on all information available at the time. Actual developments may differ from the expectations presented here.