Strategy and Objectives
The PALFINGER Group is pursuing a long-term growth strategy based on four strategic pillars – innovation, internationalization, flexibility and PALFINGER 21st. This strategic development follows the vision of designing the future of lifting solutions together with the Company’s customers.
Strategic objectives 2022
PALFINGER consistently pursues its strategic objectives, which are linked to priority topics. In the period under review, these objectives were updated and stipulated for the period up to 2022. The Executive Board also defined the following specific goals in connection with the Group’s new organizational structure in autumn 2018:
- Global number one for lifting solutions
- Financial targets 2022
- Organic growth of revenue to approx. 2 billion Euros
- 10 per cent EBIT margin over the economic cycle
- 10 per cent ROCE over the economic cycle
- Creating added value on a daily basis
GLOBAL PALFINGER ORGANIZATION
The GLOBAL PALFINGER ORGANIZATION (GPO) builds on flexible global team structures and stronger cooperation across areas, product segments and regions. With its global structures, it reduces the complexity of the global Group and makes processes simpler and more productive.
Six global functions provide for clear-cut guidance; they report directly to the Executive Board. Special executive projects have also been designated at group level. At an operational level, global responsibilities were created for the individual product lines. The new organizational structure will contribute towards unlocking unutilized potential within the whole Group. The GPO will thus provide valuable support to PALFINGER’s further profitable growth.
6 Global Functions:
• Sales and Service
• Human Resources
• Information and Communication Technology (ICT)
• Product Line Management (PLM)