Integrated Annual Report 2018

Key Figures

The PALFINGER Group continued to grow in the 2018 financial year, raising revenue to a new record high of EUR 1,615.6 million. Compared with the previous year’s figure of EUR 1,471.1 million, this corresponds to a revenue increase of 9.8 per cent, which was achieved without any new acquisitions or participations. One of the main reasons for this expansion of business was the outstanding performance in Europe. PALFINGER also posted significant increases in North America, Russia and China.

Revenue EUR thousand

€ 1,357,012 2016
€ 1,471,075 2017
€ 1,615,628 2018
2016
2017
2018

Income statement1) EUR thousand

Revenue
1,357,012
1,471,075
1,615,628
EBITDAn2)
172,452
185,982
214,637
EBITDAn margin2)
12.7 %
12.6 %
13.3%
EBITn2)
123,747
129,684
158,222
EBITn margin2)
9.1 %
8.8 %
9.8%
EBTn2)
110,912
108,013
142,296
EBITDA
155,997
167,350
196,749
EBITDA margin
11.5 %
11.4 %
12.2%
EBIT
106,049
27,788
126,974
EBIT margin
7.8 %
1.9%
7.9%
Result before income tax
93,213
6,117
111,048
Consolidated net result for the period
61,173
(11,423)
57,951

Balance sheet1) EUR thousand

Net working capital (average)
275,896
303,758
334,786
Capital employed (average)
975,784
1,059,029
1,048,266
Equity
579,920
511,780
555,726
Equity ratio
37.7%
34.6%
36.4%
Net debt
513,077
513,282
515,739
Gearing
88.5 %
100.3%
92.8%

Cash flows and investments1) EUR thousand

Cash flows from operating activities
109,579
91,978
126,502
Free cash flows
(68,700)
43,058
46,775
Net investments
71,359
68,301
95,674
Depreciation, amortization and impairment
49,948
139,562
69,774

Value creation1) EUR thousand

ROCE
8.1 %
1.7%
8.5%
ROE
12.7 %
0.2%
14.4%
EVA
20,546
(45,187)
31,551
WACC
6.0 %
5.9%
5.5%

Human resources

Employees3)
9,846
10,212
10,780
Percentage of women
13.3 %
13.1 %
12.9%
Employee turnover4)
14.8%
19.3%
18.7%
Staff absences due to industrial accidents
0.20%5)
0.16%5)
0.17%
Training hours (per employee)
15.6
19.7
17.1

Environment

Greenhouse gas emissions
78,194
72,533
73,086
Index: Energy consumption in relation to revenue6)
94.8%
91.1%
79.7%
Index: Hazardous waste in relation to revenue6)
157.7%
325.4%
263.3%

Share

Market capitalization
1,075,167
1,280,050
834,570
Price as at year end (EUR)
28.60
34.05
22.20
Earnings per share in EUR
1.63
(0.30)1)
1.54
Dividend per share (EUR)
0.57
0.47
0.517)
  • 1) The 2017 figures were adjusted with retrospective effect (see the Annual Report, explanations on adjustments with retrospective effect, page 144).
  • 2) Figures were normalized (n) by restructuring costs.
  • 3) Balance-sheet date figures of consolidated group companies excluding equity shareholdings and excluding contract workers.
  • 4) Transition to new calculation model pursuant to the relevant GRI Standard.
  • 5) Figures changed with retrospective effect due to new consolidation procedures.
  • 6) Volume 2013 = 100%.
  • 7) Proposal to the Annual General Meeting.