Palfinger (PAL) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue declined to EUR 552.5 million, down from EUR 578.5 million in Q1 2024 and EUR 591.6 million in Q1 2023, with consolidated net result at EUR 21.96 million and earnings per share at EUR 0.63.

• Order intake remained high, especially in EMEA, providing a solid foundation for the year.

• Workforce at 12,360 at end of Q1 2025; diversified across multiple industries and geographies.

• AGM approved a EUR 0.90 dividend, authorized treasury share transactions, and elected a new Supervisory Board member.

• Customer base remains diversified, supporting resilience across cycles.

Financial highlights

• Q1 2025 revenue at EUR 552.5 million, down 4.5% year-over-year; EBIT at EUR 40.1 million, EBIT margin at 7.3%, and consolidated net result at EUR 22.0 million.

• EBITDA for Q1 2025 was EUR 63.0 million, down from EUR 76.6 million in Q1 2024; EBITDA margin fell to 11.4%.

• Free cash flow improved to EUR 20.7 million in Q1 2025 from negative EUR 15.7 million in Q1 2024.

• Net investments decreased to EUR 22.5 million in Q1 2025 from EUR 40.3 million in Q1 2024.

• Service business share increased from 17.6% to 19.6%.

Outlook and guidance

• Expect significant increase in EBIT and revenue in H2 2025, targeting the second best financial year in company history.

• 2027 targets: EUR 2.7 billion revenue (organic growth), 10% EBIT margin, ROCE above 12%.

• Q2 2025 earnings expected to improve sequentially but remain below prior year; main growth from new equipment orders.

• APAC strategy aims for EUR 300 million revenue by 2030, with new assembly plant in India.

• Positive earnings development expected from Q2 onwards, with recovery in European core markets.