Slide 1: Publication of Results Fiscal Year 2024
PUBLICATION OF RESULTS FISCAL YEAR 2024 Vienna, March 6, 2025
Slide 2: Andreas Klauser, CEO
ANDREAS KLAUSER CEO 2
Slide 3: Number 1 in the World
NUMBER 1 IN THE WORLD Global market leader for crane and lifting solutions with revenues of EUR 2.36 billion in 1 2024 Present in all regions with 30 production sites and a global, comprehensive sales and service network. Approx. 12,350 employees1) at the end of 2024 1) Without equity investments an
Slide 4: 2024 Second Best Fiscal Year in the Company's History
2024 SECOND BEST FISCAL YEAR IN THE COMPANY'S HISTORY EUR 186 MILLION EBIT INCREASED ORDER INTAKE STRONG FREE CASH FLOW DESPITE LOWER SALES IN Q4, ESPECIALLY IN EMEA DEVELOPMENT TO EUR 120 MILLION 06/03/2025 / PALFINGER Balance Sheet Presentation 2024 4
Slide 5: Significant Events in 2024
SIGNIFICANT EVENTS IN 2024 Maria Koller CHRO – new board member for human resources and legal affairs. Orders for equipping offshore wind farms in Taiwan and Japan and a major order from Singapore Defence. Expansion and modernization of the Löbau / Germany location completed. Successfully, start of
Slide 6: Resilience Through Industry Diversity
RESILIENCE THROUGH INDUSTRY DIVERSITY 7% RENTAL 13% TRANSPORT & LOGISTICS 10% FORESTRY 12% MARINE 12% PUBLIC SECTOR & RAILWAY 13% 11% INFRA- WASTE STRUCTURE MANAGEMENT & RECYCLING 12% 10% BUILDING PRIVATE CONSTRUCTION HOUSING 06/03/2025 / PALFINGER Balance Sheet Presentation 2024 6
Slide 7: Innovative and Powerful Product Portfolio
INNOVATIVE AND POWERFUL PRODUCT PORTFOLIO LOADER TIMBER / MARINE DAVITS TAIL LIFTS CRANES CRANES RECYCLING PASSENGER AERIAL WORK TURNKEY DIGITAL OFFSHORE BOATS SYSTEMS PLATFORMS SOLUTIONS SOLUTIONS CRANES HOOK LIFTS & TRUCK-MOUNTED RAILWAY WIND WINCHES SKIPLOADERS FORKLIFTS SYSTEMS CRANES 06/03/2025
Slide 8: Growth Focus, Double Service and Parts Revenue
BOOSTING CUSTOMER SATISFACTION AND PROFITABILITY Significant investments in our future Premium positioning GROWTH FOCUS Service and parts business is over-proportionally contributing to EBIT and ROCE Most professional network DOUBLE SERVICE AND CUSTOMER SATISFACTION PROFITABILITY PARTS REVENUE TO 70
Slide 9: Expanding NAM Network to Tap the Full Potential
EXPANDING NAM NETWORK TO TAP THE FULL POTENTIAL WHERE WE STAND NAM HQ SCHAUMBURG 96 >300 Dealers for Service sales & service locations DEVELOPMENT 2030 1 Centralized spare parts hub 20 Strategic PUSA service locations FUTURE SPARE PARTS HUB 150 Mobile service vehicles Extension of independent networ
Slide 10: APAC - Strategy
APAC - STRATEGY Target: APAC region achieves EUR 300 million of revenue until 2030. Tailored strategies for India, China and the entire Asia region including exports to other regions. Construction of an assembly plant in India for loader cranes, hook lifts, and aerial work platforms. Investments of
Slide 11: Maria Koller, CHRO
MARIA KOLLER CHRO
Slide 12: Strong Results: Sustainability KPIs at a Record Level in 2024
STRONG RESULTS: SUSTAINABILITY KPIS AT A RECORD LEVEL IN 2024 High Low working safety carbon emissions2 Accident rate (TRIR1) 8.43 to CO2e 30.250 - 27% vs. 2023 - 17,6%3 vs. 2023 2) Emissions Scope 1 und 2 (direct and indirect emissions) 3) The emission values were corrected retroactively for the pr
Slide 13: Focus on the Future: Lifting Positive Impact
FOCUS ON THE FUTURE Our sustainability program “Lifting Positive Impact” is a key component of our corporate strategy and the ongoing transformation. Sustainability is a key component of PALFINGER’s Vision 2030. Sustainability as a driver of PALFINGER’s long-term growth. PALFIGER’s future-ready effo
Slide 14: A Clear Strategy: Five Fields of Action for Lasting Impact
A CLEAR STRATEGY: FIVE FIELDS OF ACTION FOR LASTING IMPACT CLIMATE ACTION Driving sustainable solutions to reduce emissions GOVERNANCE & CIRCULAR COMPLIANCE VALUE CHAINS Key aspects of good Commitment to circular governance economy PRODUCT SAFETY PEOPLE, VALUE AND SECURITY AND CULTURE Protecting peo
Slide 15: Focus on HR as a Competitive Advantage
FOCUS ON HR AS A COMPETITIVE ADVANTAGE New Center of Excellence: People Development & Culture. Worldwide HR Business Partner to increase organizational efficiency. Regional shared service and recruitment centers leverage synergies. Digitalization of all HR processes. 06/03/2025 / PALFINGER Balance S
Slide 16: Proactive Adjustment of Headcount Supports Profitability
PROACTIVE ADJUSTMENT OF HEADCOUNT SUPPORTS PROFITABILITY Mix of measures Reduction of temporary workers, overtime and shifts. Temporary reduction to 4-day week. Training centers used for cross-skilling in the direct area. Mutually agreed terminations. Future ramp-up of production can be attained eas
Slide 17: Great Retention of Our Employees Shows High Engagement
GREAT RETENTION OF OUR EMPLOYEES SHOWS HIGH ENGAGEMENT VOLUNTARY FLUCTUATION FLUCTUATION IN NAM BETTER THAN THE INDUSTRY WORLDWIDE AT 5.0 PERCENT SIGNIFICANTLY HIGHER THAN BENCHMARK OF AROUND (EMEA 2.8 PERCENT) IN EMEA 6 PERCENT 06/03/2025 / PALFINGER Balance Sheet Presentation 2024 17
Slide 18: Alexander Susanek, COO
ALEXANDER SUSANEK COO
Slide 19: Focus on Cost Reduction and Cash Flow Optimization in the Value Chain
FOCUS ON COST REDUCTION AND CASH FLOW OPTIMIZATION IN THE VALUE CHAIN SUPPLY CHAIN MANAGEMENT OPERATIONS PROCUREMENT ▪ Strengthening of inventory ▪ Timely adjustment of capacities ▪ Development of strategic partners in management. to reduced market demand. EMEA and NAM. ▪ Development of footprint ▪
Slide 20: Boosting Innovation Power to Secure Technology Leadership
BOOSTING INNOVATION POWER TO SECURE TECHNOLOGY LEADERSHIP FOCUS ON APPLICATIONS OF THE FUTURE AND CUSTOMER VALUE ▪ Electrification. ▪ Automation. ▪ Connectivity. R&D AS KEY DRIVER OF PALFINGER´S GLOBAL TECHNOLOGY LEADERSHIP 700 Employees at 24 locations. 3 Centers of excellence: Systems Management &
Slide 21: Full Product Pipeline to Strengthen Global Market Leadership
FULL PRODUCT PIPELINE TO STRENGTHEN GLOBAL MARKET LEADERSHIP LOADER CRANE: TRUCK-MOUNTED STRENGTHENING FORKLIFT: ATTACKING PORTFOLIO IN NAM AND EMEA AERIAL WORK MARINE: PLATFORMS: PROFITABILITY SETTING THE BASE SIGNIFICANTLY FOR FUTURE GROWTH INCREASED 06/03/2025 / PALFINGER Balance Sheet Presentati
Slide 22: Product Highlights and Customer Focus at Bauma 2025
PRODUCT HIGHLIGHTS AND CUSTOMER FOCUS AT BAUMA 2025 07.04. – 13.04.2025 in Munich 4 WORLD PREMIERES ELECTRIFIED SOLUTIONS FOR AERIAL DIGITAL SERVICES AND 23 EXPONATES WORK PLATFORMS, TRUCK-MOUNTED CONNECTIVITY IN FOCUS 2,336 m² OF EXHIBITION SPACE FORKLIFTS AND LOADER CRANES 06/03/2025 / PALFINGER B
Slide 23: Felix Strohbichler, CFO
FELIX STROHBICHLER CFO
Slide 24: Segment Sales & Service
SEGMENT SALES & SERVICE Vision and Strategy 2030 24
Slide 25: Growth in Marine and NAM Region
Sales & Service segment GROWTH IN MARINE AND NAM REGION NAM: Increased revenue, Presidential election slowed demand in the 2nd half of the year. APAC: Good growth in the emerging Indian market. No recovery in the Chinese market. MARINE: Growth in service and offshore cranes. Significant increase in
Slide 26: Increase in Service Share – Order Book Stabilized in Q4
Sales & Service segment INCREASE IN SERVICE SHARE – ORDER BOOK STABILIZED IN Q4 in EUR million 20221) 20232) 2024 Δ% External revenue 1,969.3 2,237.5 2,121.3 -5.2% EBITDA 172.9 232.8 217.3 -6.7% EBIT 149.9 207.7 194.3 -6.4% EBIT margin 7.6% 9.3% 9.2% – in EUR million 20221) 20232) 2024 Δ% Order book
Slide 27: Segment Operations
SEGMENT OPERATIONS Vision and Strategy 2030 27
Slide 28: Economic Environment Demanded Capacity Adjustments
Operations segment ECONOMIC ENVIRONMENT DEMANDED CAPACITY ADJUSTMENTS Reduced production capacity in EMEA and reduced external revenue in production for third parties due to the difficult economic environment. Capacity expansion in LATAM on account of high order intake in Brazil and Argentina. Suppl
Slide 29: Performance Impacted by Lower Utilization
Operations segment PERFORMANCE IMPACTED BY LOWER UTILIZATION in EUR million 20221) 2023 2024 Δ% External revenue 203.6 155.3 133.6 -14.0% EBITDA 85.5 107.5 81.5 -24.2% EBIT 45.3 61.8 35.6 -42.4% 1) 2022 figures were adjusted retrospectively to the new segmentation. 06/03/2025 / PALFINGER Balance She
Slide 30: Segment Other Non-Reportable Segments
SEGMENT OTHER NON-REPORTABLE SEGMENTS Vision and Strategy 2030 30
Slide 31: Positive Earnings Contribution from Tail Lifts
Other non-reportable segments POSITIVE EARNINGS CONTRIBUTION FROM TAIL LIFTS in EUR million 20221) 20232) 2024 Δ% External revenue 53.3 53.0 104.9 +97.9% EBITDA -28.8 -37.4 -21.7 +42.0% EBIT -44.8 -59.3 -44.2 +25.5% 1) 2022 figures for EMEA were adjusted retrospectively to the new segmentation. 2) T
Slide 32: PALFINGER Group
PALFINGER GROUP Vision and Strategy 2030 32
Slide 33: Increasing Profitability in Marine and Tail Lifts Largely Offsets Decline in EMEA
PALFINGER Group INCREASING PROFITABILITY IN MARINE AND TAIL LIFTS LARGELY OFFSETS DECLINE IN EMEA in EUR million 2022 2023 2024 Δ% 2023/24 Revenue 2,226.2 2,445.9 2,359.8 -3.5% EBITDA 229.6 302.9 277.0 -8.6% EBIT (operating result) 150.4 210.2 185.6 -11.7% EBIT margin 6.8% 8.6% 7.9% – Consolidated n
Slide 34: Improvement in Gearing and Equity
PALFINGER Group IMPROVEMENT IN GEARING AND EQUITY in EUR million 31.12.2022 31.12.2023 31.12.2024 Equity 674.9 715.5 753.1 Equity ratio 34.5% 34.7% 35.3% Gearing 90.3% 93.4% 88.0% Net debt/EBITDA 2.66 2.21 2.39 ROCE*) 9.4% 11.5% 10.3% *) ROCE = Ratio of NOPLAT and average capital employed (reporting
Slide 35: Reduction in Interest Rates and Net Financial Debt
PALFINGER Group REDUCTION IN INTEREST RATES AND NET FINANCIAL DEBT in EUR million 31.12.2022 31.12.2023 31.12.2024 Financial liabilities (FV) 1) 685.2 755.6 800.1 Av. interest debt 2) 2.34% 3.85% 3.76% Av. remaining term debt 3.24 years 3.45 years 3.45 years Net debt 609.6 668.1 662.4 1) Including E
Slide 36: Exceptional Levers to Significantly Reduce Net Financial Debt
PALFINGER Group EXCEPTIONAL LEVERS TO SIGNIFICANTLY REDUCE NET FINANCIAL DEBT 662 ~ 50 > 30 < 600 > 90 < 500 NFD Reduction from FCF Divestment NFD Treasury Targeted NFD 2024 (mainly WC) of non-core assets 2026 Shares level 06/03/2025 / PALFINGER Balance Sheet Presentation 2024 36
Slide 37: Optimization of Working Capital Leads to EUR 120 Million Free Cash Flow
PALFINGER Group OPTIMIZATION OF WORKING CAPITAL LEADS TO EUR 120 MILLION FREE CASH FLOW 2024 PALFINGER Group in EUR million 2022 2023 EBTDA 212.9 266.0 233.4 +/- non-cash income from at-equity 6.6 -8.6 -13.8 companies +/- change in working capital -127.4 -41.1 56.2 +/- cash flow from tax payments -4
Slide 38: Reduction of Capex Ratio to Achieve Sustainable Free Cash Flow
PALFINGER Group REDUCTION OF CAPEX RATIO TO ACHIEVE A SUSTAINABLE FREE CASH FLOW OF >EUR 100 MILLION 200 8% 7.1% 180 6.6% 7% 6.5% 160 5.8% 5-6% < 5% 6% 140 5.2% 4.4% 5% 120 100 4% 174 80 155 MAJOR STRATEGIC 3% 129 INVESTMENTS 2025-2028: 60 122 2% 40 91 88 89 93 91 • Plant Ormoz (Maribor II) 75 79 68
Slide 39: Outlook 2025
SS vwwvlant S Wiis
Slide 40: Good Result Expected for the Full Year 2025
GOOD RESULT EXPECTED FOR THE FULL YEAR 2025 EBIT decline of around one third in Q1/2025 compared to the previous year expected due to the difficult market environment in 2024. Recovery in order intake in core European markets leading to development of positive earnings expected from Q2 onwards. Over
Slide 41: Financial Targets 2027
FINANCIAL TARGETS 2027 – SIGNIFICANT INCREASE IN SALES AND EARNINGS TARGETED #1 Market leader in crane and lifting solutions €2.7 billion Revenue from organic growth 10% >12% EBIT margin ROCE 06/03/2025 / PALFINGER Balance Sheet Presentation 2024 41
Slide 42: Q&A
Q&A
Slide 43: 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