Slide 1: Publication of Results Fiscal Year 2023
PUBLICATION OF RESULTS FISCAL YEAR 2023 Vienna, March 7, 2024
Slide 2: Andreas Klauser, CEO
ANDREAS KLAUSER CEO 2
Slide 3: 2023 at a Glance
2021 at a 2023 at a Glance Glance 2023 BEST FISCAL YEAR IN THE COMPANY’S HISTORY RECORD IN REVENUE, EBIT INFLATION AND HIGH HIGH INVENTORY LEVELS, AND CONSOLIDATED NET INTEREST RATES SLOW DOWN IMPROVEMENT IN Q4/2023 RESULT ORDER INTAKE IN EMEA 07/03/2024 / PALFINGER Balance Sheet Presentation 2023 3
Slide 4: Key Events in 2023
Key Events in 2023 2023 WAS AN EVENTFUL YEAR Opening of PALFINGER Campus and PALFINGER World in Lengau With the PALFINGER Campus and PALFINGER World, a state-of-the-art education and training center as well as a leading-edge brand and product experience was presented at the beginning of May. NAM wit
Slide 5: PALFINGER at a glance
PALFINGER at a glance NUMBER 1 IN THE WORLD Global market leader for crane and lifting 1 solutions with revenue of EUR 2.45 billion in 2023 Present in all regions with 30 production sites and around 5,000 service centers Around 12,700 employees (excluding contract workers) at the end of 2023 Revenue
Slide 6: Innovative and powerful product portfolio
About PALFINGER INNOVATIVE AND POWERFUL PRODUCT PORTFOLIO LOADER MARINE DAVITS TIMBER/ RECYCLING TAIL LIFTS CRANES CRANES PASSENGER ACCESS TURNKEY DIGITAL OFFSHORE BOATS SYSTEMS PLATFORMS SOLUTIONS SOLUTIONS CRANES HOOK LIFTS & TRUCK MOUNTED RAILWAY WIND WINCHES SKIPLOADERS FORKLIFTS SYSTEMS CRANE 0
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% Passengers
Slide 8: Strong revenue development in all regions
Global Sales & Service STRONG REVENUE DEVELOPMENT IN ALL REGIONS NAM MARINE 600 +17% 300 +29% +38% +5% 400 200 200 100 0 0 2021 2022 2023 2021 2022 2023 LATAM EMEA APAC 80 +25% 1500 +16% +8% 150 60 +6% +65% -7% 1000 40 100 500 20 50 0 0 0 2021 2022 2023 2021 2022 2023 2021 2022 2023
Slide 9: Positive development in the Marine region
Marine POSITIVE DEVELOPMENT IN THE MARINE REGION, +40 % ORDER INTAKE IN 2023 AKER BP MARINE CRANE WITH BERGEN CABLE LAYING VESSEL electric, remoted operated, offshore HYDRAULIC cranes on unmanned platforms CRANES (Lifeboats & Davits) Distributor contract signed CRUISE ORDER FOR ICON - CRUISE ORDER F
Slide 10: Service
Service AS A PREMIUM SUPPLIER, PALFINGER PROVIDES PREMIUM SERVICES Globally organized service with over 300 distributors and around 5,000 service partners worldwide. 24-hour spare parts delivery within Europe. EMEA dealers are supplied by service hubs in Lengau (AT), Bremen (DE) and Toulouse (FR). O
Slide 11: Sustainability as a key driver of strategic and operational action
Sustainability SUSTAINABILITY AS A KEY DRIVER OF STRATEGIC AND OPERATIONAL ACTION FOR THE LIVING PLANET WE FOR ALL THE PEOPLE FOR THE FUTURE-FORWARD ALL DEPEND ON WE TOUCH WAY OF DOING BUSINESS Fewer emissions Safe & healthy Our values on all levels obliges Focus on Positive impact on Qualified & di
Slide 12: Alexander Susanek, COO
ALEXANDER SUSANEK COO 20/0 2/20 PALFINGER Balance Sheet Presentation 2021
Slide 13: Broad spectrum of experience from previous jobs
PALFINGER Group BROAD SPECTRUM OF EXPERIENCE FROM PREVIOUS JOBS ▪ Chief Operating Officer since 07/2023 ▪ Head of Global Engine Production Network 2023 ▪ Plant Manager Engine Plant, Austria ▪ Assembly Manager Car Assembly ▪ Head of Prototyping 2014 2014 ▪ Plant Manager Truck Assembly, Poland ▪ Sever
Slide 14: Maintaining market leadership through effective product development
PALFINGER Group MAINTAINING MARKET LEADERSHIP POSITION THROUGH EFFECTIVE PRODUCT DEVELOPMENT Key topics 2023 ▪ New TEC-line for Loader Cranes ▪ Launch Gen3 Timber & Recycling Cranes on-road ▪ Development partnership with Aker BP PLM&E Challenges 2024 ▪ 6 product lines ▪ Further development of the
Slide 15: Strategic partnerships with suppliers need to be intensified
PALFINGER Group STRATEGIC PARTNERSHIPS WITH SUPPLIERS NEED TO BE INTENSIFIED Key topics 2023 ▪ Cost reductions ▪ Increase delivery performance ▪ Strategic partnership with Steyr Automotive PROCUREMENT ▪ EUR 1.45 billion Challenges 2024 purchasing volume ▪ Expanding supplier base in NAM ▪ 7,000 suppl
Slide 16: Optimization of supply chain management
PALFINGER Group OPTIMIZATION OF SUPPLY CHAIN MANAGEMENT IS KEY FOR REDUCING INVENTORIES AND IMPROVING CASH FLOW Key topics 2023 ▪ Stabilize supply chain after COVID ▪ Establish SCM organization ▪ Shut down Krefeld and Harderwijk SCM ▪ Supply chain and Challenges 2024 operations planning ▪ Reduce i
Slide 17: Flexible adjustments of capacity
PALFINGER Group UNCERTAIN MARKET DEVELOPMENTS REQUIRE FLEXIBLE ADJUSTMENTS OF CAPACITY Key topics 2023 ▪ Reorganize Löbau plant for access platforms ▪ Apply the best possible cost structure within the production network ▪ Optimize assembly lines in several plants OPERATIONS ▪ 30 production sites Ch
Slide 18: Maria Koller, CHRO
PALFINGCR MARIA KOLLER CHRO
Slide 19: Broad experience at international level
BROAD EXPERIENCE AT INTERNATIONAL LEVEL ▪ Chief Human Resources Officer since January 2024 ▪ Managament functions as Vice President HR 2023 & Executive Vice President Global HR 2014 ▪ Several management functions as HR 2014 Director; responsbible for AT, DE und EMEA ▪ Professional experience in Aust
Slide 20: Expanding future potential: Human Resources & Legal
Human Resources & Legal EXPANDING FUTURE POTENTIAL Key topics 2024 ▪ Further development of the GPO ▪ Diversity as a driver of corporate success ▪ Process optimization – balance between standards and lean ▪ Employer branding – values and culture HUMAN RESOURCES Key topics 2024 ▪ Internationalization
Slide 21: Felix Strohbichler, CFO
FELIX STROHBICHLER CFO 21
Slide 22: Segment Sales & Service
SEGMENT SALES & SERVICE Vision and Strategy 2030
Slide 23: NAM, APAC and Marine as growth markets
Segment Sales & Service NAM, APAC AND MARINE AS GROWTH MARKETS — PROFITABILITY INCREASES IN ALL REGIONS NAM: Growth market with revenue increase of around 17 % and continued positive earnings development. LATAM: Strengthening market position despite increasingly difficult environment. APAC: High ord
Slide 24: Record revenue driven by price increases and growth markets
Segment Sales & Service RECORD REVENUE DRIVEN BY PRICE INCREASES AND GROWTH MARKETS in EUR million 2021 20221) 2023 Δ% External revenue 1,705.1 1,969.3 2,237.5 +13.6 % EBITDA 205.1 172.9 232.8 +34.6 % EBIT 166.5 149.9 207.7 +38.6 % EBIT margin 9.8 % 7.6 % 9.3 % – in EUR million 2021 20221) 2023 Δ% O
Slide 25: Segment Operations
SEGMENT OPERATIONS Vision and Strategy 2030
Slide 26: Good capacity utilization at plants despite economic slowdown
Segment Operations GOOD CAPACITY UTILIZATION AT PLANTS DESPITE ECONOMIC SLOWDOWN Reduced external revenue in manufacturing for third parties due to the more difficult economic environment Thanks to improved supply chains and increased delivery reliability production backlogs were reduced. From Septe
Slide 27: Improved profitability based on transfer prices
Segment Operations IMPROVED PROFITABILITY BASED ON TRANSFER PRICES in EUR million 2021 20221) 2023 Δ% External revenue 136.4 203.6 155.3 -23.7 % EBITDA 56.8 85.5 107.5 +25.7 % EBIT 20.3 45.3 61.8 +36.4 % 1) Prior-year figures for 2022 were retroactively adjusted to the new segmentation structure. 07
Slide 28: Segment Other Non-Reportable Segments
SEGMENT OTHER NON-REPORTABLE SEGMENTS Vision and Strategy 2030
Slide 29: Product line tail lifts with new set up
Other non-reportable segments PRODUCT LINE TAIL LIFTS WITH NEW SET UP Tail lifts product line spun-off from the global PALFINGER organization (GPO) due to the specific market segment requirements and relatively low synergies with the other product lines; resulting in a shift of the product line to t
Slide 30: One-off effect of resegmentation, currency effects and higher holding costs impact EBIT
Other non-reportable segments ONE-OFF EFFECT OF RESEGMENTATION, CURRENCY EFFECTS AND HIGHER HOLDING COSTS IMPACT EBIT in EUR million 2021 20221) 2023 Δ% External revenue - 53.3 53.0 -0.6 % EBITDA -18.2 -28.8 -37.4 -29.9 % EBIT -31.8 -44.8 -59.3 -32.4 % 1) Prior-year figures for 2022 were retroactive
Slide 31: PALFINGER Group
PALFINGER GROUP Vision and Strategy 2030
Slide 32: By far the best annual result with record dividend
PALFINGER Group BY FAR THE BEST ANNUAL RESULT WITH RECORD DIVIDEND in EUR million 2021 2022 2023 Δ% 2022/23 Revenue 1,841.5 2,226.2 2,445.9 +9.9 % EBITDA 243.7 229.6 302.9 +31.9 % EBIT (operating result) 155.0 150.4 210.2 +39.8 % EBIT margin 8.4 % 6.8 % 8.6 % – Consolidated net result 86.6 71.4 107.
Slide 33: Major projects drive investment levels
PALFINGER Group MAJOR PROJECTS DRIVE INVESTMENT LEVELS 200 173.5 173,5 180 160 129.0 140 121.8 121,8 129,0 120 88.7 92.7 92,7 100 88,7 79.2 79,2 80 60 40 20 0 2021 2022 2023 Net Investments Depreciation, amortization and impairment 07/03/2024 / PALFINGER Balance Sheet Presentation 2023 33
Slide 34: High inventory levels continue to affect net debt
PALFINGER Group HIGH INVENTORY LEVELS CONTINUE TO AFFECT NET DEBT – IMPROVEMENT IN Q4/2023 in EUR million Dec. 31, 2021 Dec. 31, 2022 31/12/2023 Financial liabilities (FV) 1) 537.0 685.2 755.6 Avg. interest debt 2) 1.13 % 2.34 % 3.85 % Avg. remaining term debt 2.43 years 3.24 years 3.45 years Net de
Slide 35: Net debt/EBITDA ratio and ROCE significantly improved
PALFINGER Group NET DEBT/EBITDA RATIO AND ROCE SIGNIFICANTLY IMPROVED in EUR million Dec. 31, 2021 Dec. 31, 2022 Dec. 31, 2023 Equity 613.9 674.9 715.5 Equity ratio 36.3 % 34.5 % 34.7 % Gearing 77.6 % 90.3 % 93.4 % Net debt/EBITDA 1.96 2.66 2.21 ROCE* 11.2 % 9.4 % 11.5 % * ROCE = Ratio of NOPLAT and
Slide 36: Clearly positive free cash flow despite high investment and inventory levels
PALFINGER Group CLEARLY POSITIVE FREE CASH FLOW DESPITE HIGH INVESTMENT AND INVENTORY LEVELS 2023 PALFINGER Group in EUR million 2021 2022 EBTDA 233.5 212.9 266.0 +/- non-cash income from at-equity -23.9 6.6 -8.6 companies +/- change in working capital -90.6 -127.4 -41.1 +/- cash flow from tax payme
Slide 37: Outlook 2024
OUTLOOK 2024
Slide 38: Stable revenue and good profitability for first half year 2024 expected
Outlook 2024 STABLE REVENUE AND GOOD PROFITABILITY FOR FIRST HALF YEAR 2024 EXPECTED Currently weak economic environment in EMEA, continued positive development expected in NAM and the marine sector. Focus on optimizing working capital, strict CapEx management, increasing productivity and targeted c
Slide 39: Ambitious financial targets for 2027 remain unchanged
Guidance 2027 AMBITIOUS FINANCIAL TARGETS FOR 2027 REMAIN UNCHANGED #1 Market Leader for Crane and Lifting Solutions EUR 3.0 billion* Revenue from organic growth 10% 12% EBIT margin ROCE *Target for 2027 independent of business development in Russia 07/03/2024 / PALFINGER Balance Sheet Presentation
Slide 40: Q&A
Q&A
Slide 41: Investor Relations Contacts
INVESTOR RELATIONS CONTACTS 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