Palfinger (PAL) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue fell 4.5% year-over-year to €552.5 million as profit declined; order intake remained high, especially in EMEA.

• Consolidated net result was €21.96 million, down from €32.53 million in Q1 2024; earnings per share fell to €0.63 from €0.94.

• Net debt was reduced, and the customer base remained diversified across industries and geographies.

Financial highlights

• Revenue was €552.5 million (-4.5% y/y); EBITDA was €63.0 million (-17.8%), with an 11.4% margin versus 13.2% in Q1 2024.

• EBIT was €40.1 million (-26.7%), with a 7.3% margin versus 9.5%; consolidated net result was €21.96 million, down 32.3%.

• Free cash flow improved to €20.7 million from negative €15.7 million in Q1 2024; net investments were €22.5 million versus €40.3 million.

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

Outlook and guidance

• 2025 targets include revenue and EBIT growth, with significant increases expected in H2 and the second-best financial year in history targeted.

• Q2 earnings are expected to improve sequentially but remain below the prior year; growth is expected mainly from new equipment orders.

• 2027 targets: €2.7 billion revenue, 10% EBIT margin and ROCE above 12%.

• APAC strategy targets €300 million revenue by 2030, supported by a new assembly plant in India.