EANS-News: PALFINGER AG / Q1-Q3 2021: On Target for New Record Year

Corporate news transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is responsible for the content of this announcement.

Quarterly Report

Bergheim –

* Group revenue and profitability exceed the same period in record year 2019

* Revenue of more than EUR 1.75 billion and an EBIT of over EUR 150 million targeted for the full fiscal year 2021

* Increase in medium-term financial targets 2024 to EUR 2.3 billion in revenue, 10% EBIT margin and 12% ROCE

______________________________________________________________________________
|in_EUR_million|_____Q1-Q3/2019|_____Q1-Q3/2020|_____Q1-Q3/2021|_____________%*|
|Revenue_______|________1,300.6|________1,102.4|________1,337.6|_________+21.3%|
|EBITDA________|__________175.1|__________140.3|__________188.3|_________+34.2%|
|EBITDA margin | 13.5%| 12.7%| 14.1%| -|
|in_%__________|_______________|_______________|_______________|_______________|
|EBIT__________|__________119.3|___________70.6|__________125.4|_________+77.7%|
|EBIT margin in| 9.2%| 6.4%| 9.4%| -|
|%_____________|_______________|_______________|_______________|_______________|
|Consolidated | 63.6| 31.8| 71.4| +124.5%|
|net_result____|_______________|_______________|_______________|_______________|
|Employees_____|_________11,055|_________10,841|_________12,066|______________-|

*Comparison 2020/21

The positive global economic environment is reflected in the results of the first three quarters of 2021: in terms of revenue and earnings, they represent a new record in PALFINGER’s corporate history.

Record Order Intake
PALFINGER continues to benefit from the economic upswing and the positive market environment. The company has achieved record order intake in almost all product lines and regions. In the third quarter, PALFINGER also won a major follow-up order in Thailand for the delivery of 148 loader cranes to the state-owned Provincial Electricity Authority. Following the acquisition of an innovative technology for Offshore Passenger Transfer Systems, PALFINGER is also expanding its position as a full-service provider in the offshore sector.

Supply Chain Task Force Implemented
The worldwide material bottlenecks and negative effects on supply chains also affect PALFINGER’s production which has led to increased effort in capacity management. „PALFINGER has deployed its own Supply Chain Task Force to proactively manage any upcoming constraints to secure maximum production volume,“ emphasizes PALFINGER CEO Andreas Klauser. Due to the increase in raw material costs, PALFINGER raised its prices significantly in several steps this year. This did neither negatively impact the strong demand, nor did we lose orders.

Key Financials
Revenue of PALFINGER AG amounted to EUR 1,337.6 million in the first three quarters of 2021 against EUR 1,102.4 million for the same period in the previous year. This represents an increase of EUR 235.2 million, or 21.3 percent. EBITDA increased by 34.2 percent to EUR 188.3 million compared to the same period in 2020. The operating result (EBIT) increased from EUR 70.6 million at the end of Q3 2020 to EUR 125.4 million, while the consolidated net result amounted to EUR 71.4 million, up from EUR 31.8 million, as at 30 September 2020. Net debt has been reduced from EUR 459.0 million to EUR 421.0 million. The net debt/EBITDA ratio of 1.78 is at a remarkably low level.

Outlook
In order to secure capacity for future growth and further efficiency, PALFINGER invests around EUR 130 million in 2021, the highest amount in the company’s history. This also includes the acquisition of the global headquarters in Bergheim. Despite the shortage of materials and components, Andreas Klauser gives a positive outlook: „Our order books provide us with good visibility and utilization of capacity until the 2nd quarter of 2022“.
For the full fiscal year 2021, PALFINGER aims to reach revenues in excess of EUR 1.75 billion and an EBIT of more than EUR 150 million. As a result, the medium-term financial targets for 2024 have been increased. By 2024, EUR 2.3 billion in revenue should be achieved through organic growth, with an EBIT margin of 10 percent and 12 percent ROCE.

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ABOUT PALFINGER AG
The international mechanical engineering firm of PALFINGER is the global leader for innovative crane and lifting solutions. With more than 12,000 employees, 34 manufacturing sites and a worldwide network of dealerships and maintenance centers at over 5,000 locations, PALFINGER is always close to the customer.

As the leader in its engineering field, the company aims to ensure its partners‘ business success in the long term by providing solutions and products that remain economically and ecologically viable in the future. Its broad product and model portfolio allows PALFINGER to take digitalization and the deployment of artificial intelligence to new levels.

As a global company with strong roots in its home region, PALFINGER is convinced that thinking and acting in the interests of sustainability play a vital role in successful business operations. This is why the company assumes social, ecological and economic responsibility along the entire value chain.

PALFINGER AG has been listed on the Vienna stock exchange since 1999 and in 2020 achieved revenue of EUR 1.53 billion.

end of announcement euro adhoc

issuer: Palfinger AG
Lamprechtshausener Bundesstraße 8
A-5020 Salzburg
phone: 0662/2281-81101
FAX: 0662/2281-81070
mail: ir@palfinger.com
WWW: www.palfinger.ag
ISIN: AT0000758305
indexes:
stockmarkets: Wien
language: English

Digital press kit: http://www.ots.at/pressemappe/1659/aom

Hannes Roither | Company Spokesperson | PALFINGER AG
T +43 662 2281-81100 | h.roither@palfinger.com

Texts and accompanying images are available in the “News” section of
www.palfinger.ag, www.palfinger.com.

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