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, with profit also falling, but order intake remained high, especially in EMEA, providing a solid foundation for the year.

• Consolidated net result for Q1 2025 was EUR 21.96 million, compared to EUR 32.53 million in Q1 2024.

• Net financial debt was further reduced, and a significant order was won with Royal Caribbean's Icon Class for rescue equipment.

• The annual general meeting approved a EUR 0.90 dividend, authorized treasury share transactions, and elected a new Supervisory Board member.

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

Financial highlights

• Q1 2025 revenue was EUR 552.5 million, down 4.5% year-over-year; EBITDA at EUR 63.0 million, down 17.8%; EBIT at EUR 40.1 million, with an EBIT margin of 7.3%.

• Consolidated net result was EUR 22 million.

• 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.

• Net debt reduced to EUR 639.7 million at Q1 2025, down from EUR 698.5 million at Q1 2024.

Outlook and guidance

• Expectation of a rebound in revenue and EBIT from Q2 onwards, with a significant increase in the second half of 2025.

• Targeting the second best financial year in company history for 2025, with a goal to surpass 2024 results.

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

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