Palfinger Company news - Upbeat 2021 targets, production ramp up after cyber attack
Palfinger announced to have largely regained control over its IT systems, production ramp-up planned for the end of this weekQ1 21 top line guided up yoy, EBIT margin down yoy due to the costs related to the incident
FY 21 outlook anticipates revenues of more than EUR 1.7 bn which implies close-to-record top line
EBIT margin should improve to 8%, implying EBIT of approx. EUR 140 mn
Full-year guidance heralds some upside to consensus sales forecasts while EBIT seems largely in line
Palfinger provides lifting solutions for use on commercial vehicles and in the maritime field. Co. is engaged in providing loader cranes, timber and recycling cranes, marine cranes, wind cranes and hooklifts service. In addition, Co. is engaged in providing tail lifts and high-tech railway systems. Co. offers its products and services primarily to construction industry, transport logistics, public authorities, waste disposal, forestry and agriculture and railway infrastructure. In the marine business, Co. sells worldwide, primarily to customers in deep sea navigation and in the oil and gas industry. Co.'s brand is LIFETIME EXCELLENCE.
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