Palfinger Q2 22 - Strong quarter and confident top line target
Much stronger top line drives earnings beat in Q2, margin pressure persistedMajor working capital cash drain but scope for reduction until year-end
Pre-war turnover target of EUR 2 bn reinstated, heralds upside to estimates
Management envisages softer order intake for H2
Overall, a strong quarterly performance, FY 22 consensus likely to move north
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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