Key figures

The global economic boom resulted in exceptionally strong demand. Revenue rose to EUR 1.84 billion, EBIT to EUR 155.0 million, and net profit to EUR 86.6 million.

Driven by the rapid economic upswing starting in the second half of 2020, PALFINGER achieved a record level of incoming orders. PALFINGER was able to minimize the impact of globally strained supply chains and the sharply rising costs of raw materials, semiconductors and energy through its strategic partnerships, proactive inventory management and its multiple sourcing policy. Nevertheless, PALFINGER, for its part, had to raise prices. Due to the asynchronous nature of cost increases and price increases, the cost increases will continue to have a significant impact on profitability until the first half of 2022.

Nevertheless, the profitability of PALFINGER's operating business increased in 2021 compared to 2020 and also compared to the previous record year 2019. EBITDA rose by 29.1 per cent from EUR 188.7 million to EUR 243.7 million and the EBITDA margin was 13.2 per cent, compared to 12.3 per cent in the 2020 fiscal year.

Revenue EUR THOUSAND

€ 1,753,849,- 2019
€ 1,533,864,- 2020
€ 1,841,533,- 2021
EUR thousand
2019
2020
2021

Income statement

Revenue
1,753,849
1,533,864
1,841,533
EBITDA
223,643
188,664
243,702
EBITDA margin
12.8%
12.3%
13.2 %
EBIT
149,015
100,288
155,023
EBIT margin
8.5%
6.5%
8.4%
Earnings before income tax
133,124
85,095
143,602
Consolidated net result
80,028
49,789
86.563

Balance sheet EUR thousand

Net working capital (average)
352,681
348,278
361,991
Capital employed (average)
1,113,102
1,084,139
1,051,982
Equity
629,092
616,449
613,857
Equity ratio
38.3%
39.6%
36.3%
Net debt
525,647
397,088
476,569
Gearing
83.6%
64.4%
77.6 %

Cash flows und investments

Cash flows from operating activities
156,031
224,669
87,408
Free cash flow
112,355
173,319
(42,097)
Net investments
90,8461)
68,1711)
121,8201)
Depreciation, amortization and impairment
74,628
88,376
88,679

Value creation

ROCE
9.9%
6.9%
11.2 %
ROE
16.5%
10.1%
17.6%
EVA
43,391
10,776
51,623
WACC
6.0%
5.9%
6.3%

Employees

Number of employees2)
11,126
10,824
11,733
Percentage of women
13.6%
13.7%
13.3%
Employee turnover
16.8%
14.7%
17.1%

Environment

CO2 emissions from production in tonnes
36,588
30,796
31,204
Direct emissions from fuels (Scope 1)
20,168
18,419
20,160
Indirect emissions from electricity and purchased energy sources (Scope 2)
16,421
12,377
11,044

Share

Market capitalization
1,099,603
973,665
1,289,212
Price as at year end (EUR)
29.25
25.90
34.40
Earnings per share (EUR)
2.13
1.32
2.31
Dividend per share (EUR)
0.35
0.45
0.773)
  • 1) From 2019 including additions from leases (IFRS 16).
  • 2) Reporting date figures of consolidated Group companies without equity investments and without contingent workers.
  • 3) Proposal to the Annual General Meeting.