Palfinger Q3 21 - Guidance reiterated after in-line Q3
Q3 figures mostly in line, supply chain issues impacted profitability and cash conversionFY 21 targets of sales and EBIT exceeding the 2019 levels of EUR 1.75 bn and EUR 150 mn maintained, the latter is unlikely to be exceeded materially
FY 24 revenue objective raised to EUR 2.3 bn from EUR 2 bn, coupled with 10% EBIT margin
Mid-term outlook implies upside to market expectations as regards top line but consensus expects 10% margin already in FY 23
Company will host a Capital Markets Day on November 5
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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