Slide 1: Publication of Results Q1-Q3/2024
PUBLICATION OF RESULTS Q1-Q3/2024 Bergheim October 28, 2024
Slide 2: Andreas Klauser, CEO
PALFINGCR i peeoall) 4 ANDREAS KLAUSER ou CEO
Slide 3: Q1-Q3/2024 Good Results in Difficult Conditions
2021 auf einen Q1-Q3/2024 at Blick a glance Q1-Q3/2024 GOOD RESULTS IN DIFFICULT CONDITIONS HIGH PROFITABILITY DESPITE CONTINUED LOW ORDER INVENTORY REDUCTION IN LOWER REVENUE INTAKE IN CORE MARKETS PROGRESS 28/10/2024 / PALFINGER Publication of Results Q1-Q3/2024 3
Slide 4: Significant Events in Q1-Q3/2024
Significant events Q1-Q3/2024 SIGNIFICANT EVENTS IN Q1-Q3/2024 IAA Transportation 2024 (September): Product highlights and digital innovations such as PALFINGER CONNECTED plus+. TMF (truck-mounted forklift) product launch with excellent customer feedback. SMM Hamburg (September): Most relevant marin
Slide 5: PALFINGER at a glance: Number 1 in the World
PALFINGER at a glance NUMBER 1 IN THE WORLD Global market leader for crane and lifting solutions 1 with revenues of EUR 2.45 billion in 2023 Present in all regions with 31 production sites and around 5,000 service centers 12,540 employees (excluding contract workers) end of Q3/2024 Revenue distribut
Slide 6: Innovative and Powerful Product Portfolio
About PALFINGER INNOVATIVE AND POWERFUL PRODUCT PORTFOLIO LOADER TIMBER / MARINE DAVITS TAIL LIFTS CRANES CRANES RECYCLING PASSENGER ACCESS TURNKEY DIGITAL OFFSHORE BOATS SYSTEMS PLATFORMS SOLUTIONS SOLUTIONS CRANES HOOK LIFTS & TRUCK MOUNTED RAILWAY WIND WINCHES SKIPLOADERS FORKLIFTS SYSTEMS CRANES
Slide 7: Resilience Through Industry Diversity
The right solution for every challenge RESILIENCE THROUGH INDUSTRY DIVERSITY > 40% Construction > 10% Forestry > 10% Waste Mgmt & Recycling > 5% Transport & Logistics ~ 5% Public Sector ~ 5% Rental ~ 5 % Offshore / Oil and Gas < 5% Railway < 5% Offshore Wind < 5% Aquaculture & Fishing < 5% Passenger
Slide 8: Sustainability as a Key Driver – Improvement of All ESG KPIs
Sustainability SUSTAINABILITY AS A KEY DRIVER – IMPROVEMENT OF ALL ESG KPIS FOR THE LIVING PLANET WE FOR FUTURE-ORIENTED FOR ALL THE PEOPLE WE TOUCH ALL DEPEND ON ENTREPRENEURIAL CONDUCT Less emissions Safe & healthy Committed to at all levels our values Positive impact on Qualified and diverse work
Slide 9: Felix Strohbichler, CFO
FELIX STROHBICHLER CFO 9
Slide 10: Segment Sales & Service
SEGMENT SALES & SERVICE Vision and Strategy 2030
Slide 11: Continued Growth in Marine, APAC and LATAM
Sales & Service segment CONTINUED GROWTH IN MARINE, APAC AND LATAM NAM: Upcoming election is slowing down demand. APAC: Good growth, particularly in the emerging Indian market. No recovery in Chinese market. MARINE: Growth in service and offshore cranes. Significant increase in revenue and profitabi
Slide 12: Lower Sales and Declining Order Book, but Higher Service Share
Sales & Service segment LOWER SALES AND DECLINING ORDER BOOK, BUT HIGHER SERVICE SHARE in EUR million Q1-Q3/20221) Q1-Q3/20232) Q1-Q3/2024 Δ% External revenue 1,379.9 1,629.5 1,554.9 -4.6% EBITDA 122.2 165.8 188.8 +13.9% EBIT 105.2 148.3 173.7 +17.1% EBIT margin 7.4% 9.1% 11.2% – in EUR million Q1-Q
Slide 13: Segment Operations
SEGMENT OPERATIONS Vision and Strategy 2030
Slide 14: Economic Situation Requires Capacity Adjustments
Operations segment ECONOMIC SITUATION REQUIRES CAPACITY ADJUSTMENTS Further reductions of production capacity in EMEA and reduced external revenue from third-party production due to difficult economic environment. Capacity expansion in LATAM thanks to high order intake in Brazil and Argentina. Suppl
Slide 15: EBIT Decline Due to Lower Capacity Utilization
Operations segment EBIT DECLINE DUE TO LOWER CAPACITY UTILIZATION in EUR million Q1-Q3/20221) Q1-Q3/2023 Q1-Q3/2024 Δ% External revenue 161.8 129.3 107.5 -16.9% EBITDA 63.7 98.4 58.6 -40.4% EBIT 34.5 64.6 22.3 -65.5% 1) 2022 figures were adjusted retrospectively to the new segmentation. 28/10/2024 /
Slide 16: Segment Other Non-Reportable Segments
SEGMENT OTHER NON-REPORTABLE SEGMENTS Vision and Strategy 2030
Slide 17: Positive Earnings Contribution from Tail Lifts
Other non-reportable segments POSITIVE EARNINGS CONTRIBUTION FROM TAIL LIFTS in EUR million Q1-Q3/20221) Q1-Q3/20232) Q1-Q3/2024 Δ% External revenue 39.2 40.1 82.7 +106.2% EBITDA -15.3 -30.8 -22.4 -27.3% EBIT -27.2 -47.9 -37.4 -21.9% 1) 2022 figures for EMEA were adjusted retrospectively to the new
Slide 18: PALFINGER Group
PALFINGER GROUP Vision and Strategy 2030
Slide 19: Strong Resilience in Difficult Environment
PALFINGER Group STRONG RESILIENCE IN DIFFICULT ENVIRONMENT: IMPROVED EARNINGS IN NAM, MARINE AND TAIL LIFT OFFSET DECLINE IN EMEA in EUR million Q1-Q3/2022 Q1-Q3/2023 Q1-Q3/2024 Δ% Revenue 1,580.9 1,798.9 1,745.0 -3.0% EBITDA 170.6 233.4 225.0 -3.6% EBIT (operating result) 112.5 165.0 158.7 -3.8% EB
Slide 20: High Level of Investment Driven by One-Time Projects
PALFINGER Group HIGH LEVEL OF INVESTMENT DRIVEN BY ONE-TIME PROJECTS 140 125.7 120 114.4 100 82.4 80 68.4 66.3 58.1 60 40 20 0 Q1-Q3/2022 Q1-Q3/2023 Q1-Q3/2024 Net investments Depreciation, amortization and impairment 28/10/2024 / PALFINGER Publication of Results Q1-Q3/2024 20
Slide 21: High Inventories, Dividend Payments and Interest Rates Lead to Increased Financial Debt
PALFINGER Group HIGH INVENTORIES, DIVIDEND PAYMENTS AND INTEREST RATES LEAD TO INCREASED FINANCIAL DEBT in EUR million 30.09.2022 30.09.2023 30.09.2024 Financial liabilities (FV) 1) 719.1 794.1 824.5 Av. interest debt 2) 1.91% 3.68% 3.99% Av. remaining term debt 3.31 years 3.18 years 3.56 years Net
Slide 22: Solid Balance Sheet KPIs
PALFINGER Group SOLID BALANCE SHEET KPIS in EUR million 30.09.2022 30.09.2023 30.09.2024 Equity 728.6 701.9 746.6 Equity ratio 35.7% 34.0% 35.0% Gearing 86.4% 102.4% 101.6% Net debt/EBITDA 2.79 2.46 2.58 ROCE*) 8.7% 11.3% 10.8% *) ROCE = Ratio of NOPLAT and average capital employed (reporting date o
Slide 23: Free Cash Flow in Q3, Significant Improvement in Q4 Expected
PALFINGER Group EUR 20 MILLION FREE CASH FLOW IN Q3, SIGNIFICANT IMPROVEMENT IN Q4 EXPECTED Q1-Q3/2024 PALFINGER Group in EUR million Q1-Q3/2022 Q1-Q3/2023 EBTDA 163.1 209.0 191.2 +/- non-cash income from at-equity 6.8 -5.4 -10.3 companies +/- change in working capital -137.9 -112.8 -56.3 +/- cash f
Slide 24: Outlook 2024
OUTLOOK 2024
Slide 25: 2024: Good Result Expected Despite Challenging Market
Outlook 2024 2024: GOOD RESULT EXPECTED DESPITE CHALLENGING MARKET Continued positive development expected in Marine sector, APAC and LATAM. No significant improvement in the economic environment in European core markets, market demand in NAM currently low. Production capacities in EMEA will be furt
Slide 26: Guidance 2027: Financial Goals
Guidance 2027 FINANCIAL GOALS 2027: THE REVENUE TARGET IS BECOMING INCREASINGLY CHALLENGING DUE TO DIFFICULT MARKET CONDITIONS #1 Market leader in crane and lifting solutions €3.0 billion *) Revenue from organic growth 10% 12% EBIT margin ROCE *) Target for 2027 independent of business development i
Slide 27: Q&A
Q&A
Slide 28: Investor Relations Contact
INVESTOR RELATIONS CONTACT ANDREAS KLAUSER FELIX STROHBICHLER HANNES ROITHER CEO CFO VP IR +43 662 2281-81008 +43 662 2281-81006 +43 662 2281-81100 a.klauser@palfinger.com f.strohbichler@palfinger.com h.roither@palfinger.com PALFINGER AG Lamprechtshausener Bundesstraße 8 This presentation contains f