Despite losses, Salzburg crane manufacturer Palfinger is not doing badly: turnover fell by three percent to 1.745 billion euros – operating profit fell by 3.8 percent, but the consolidated result remains virtually unchanged at 90.8 million euros.
The listed Salzburg crane manufacturer Palfinger suffered a decline in turnover in the first three quarters of this year: according to the Bergheim-based company, the European core markets are stagnating, the American elections would dampen demand in North America and the market in China is also weakening.
However, according to the group, profit remained stable at 90.8 million euros compared to the same period last year. A five percent decline in turnover and a ten percent lower operating result are expected for the full year of 2024.
The market is stagnating, especially in Germany, the statement shows. However, strong growth was recorded in the Asia-Pacific region, mainly due to high demand from India. There is also growth in Brazil and Argentina. “Our geographic and product diversification has proven to be a decisive resilience factor in the first three quarters,” said CEO Andreas Klauser, according to the statement.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
