Palfinger (PAL) H1 2026 earnings summary

Executive summary

• H1 2026 revenue reached EUR 1,165.6 million, up 2.3%; EBIT fell 7.0% to EUR 84.1 million and net income declined to EUR 48.0 million.

• Volatile markets, delayed customer investment and geopolitical disruptions weighed on performance; demand weakened more sharply than expected in Q2.

• Strong balance sheet improvements and ongoing efficiency initiatives support financial flexibility and future growth.

• Major H1 orders exceeded EUR 100 million, with opportunities in defense and marine sectors.

Financial highlights

• Revenue was EUR 1,165.6 million (H1 2025: EUR 1,139.5 million); EBIT was EUR 84.1 million (EUR 90.4 million), with margin at 7.2% (7.9%).

• EBITDA was EUR 133.3 million (H1 2025: EUR 136.7 million); net income was EUR 48.0 million (EUR 50.1 million).

• Free cash flow was EUR 3.3 million (H1 2025: EUR 28.3 million), with EUR 70 million invested in H1 2026.

• Earnings per share was EUR 1.28, compared with EUR 1.44 in H1 2025.

Outlook and guidance

• FY 2026 target: revenue and earnings above the prior-year level; free cash flow target of EUR 100 million+ remains on track.

• 2027 targets—EUR 2.7 billion revenue, 10% EBIT margin and ROCE above 12%—are delayed amid slow recovery in the U.S. and Germany.

• Strategy 2030+ targets remain unchanged: revenue above EUR 3 billion, EBIT margin 12% and ROCE 15%.

• EUR 25 million structural savings program targets a stable cost base in 2027; H2 priorities include market share, service growth and cost reduction.