PALFINGER extends its position as the global number one for innovative crane and lifting solutions. Improvements in all product areas with a global strategy achieve the best synergy potential with the highest quality standards.
PALFINGER is aiming for revenues of EUR 2.3 billion by 2024. The most important factor for this is the above-average growth in the NAM, LATAM, and APAC regions. By 2030, revenue is to grow organically to EUR 3.0 billion.
PALFINGER wants to achieve an EBIT margin of 10 percent by 2024 through the targeted and coordinated use of synergies. Professionalized processes, activities and the bundling of competencies will ensure PALFINGER’s position as a leading provider in a global context.
Stringent current capital management and a focus on assets serving the core business aim to reach a ROCE of 12 percent by 2024.
The new sustainability strategy splits non-financial targets according to the criteria of environment, social aspects, and governance. In the environment sector, PALFINGER is striving for a significant reduction in emissions within the company and along the entire value chain. Regarding safety and social aspects, PALFINGER focuses on health, education and training, employee turnover, diversity and employee development, among other things. The area of governance includes targets concerning anti-corruption and human rights.
Implementation of Strategy 2030
2021 marked the start of the implementation of the first actions of Strategy 2030. The “Go for Solutions” pillar includes the expansion of the Köstendorf Technology Center into a global innovation and development center involving an investment of EUR 6.0 million. In order to intensify the contact with customers and partners through a high-quality network, sales and service locations were acquired in Spain and Germany in 2021.
For “Go Digital”, PALFINGER is expanding the digitization of its products, processes and business models and promoting the collaboration of all internal functions that are responsible for digital topics.
Outlook: Mid-term implementation of the strategy by 2024
Above-average investment activities will continue to provide a strong basis for PALFINGER’s growth in the future. Investment, for example, in the PALFINGER Campus training center in Lengau (Austria), in capacity expansions and the renewal of machinery such as painting systems and robotic welders, as well as in research and development.
Sales & Service is planning actions to increase market share and revenue in all regions. The dealer network is being reinforced and digital services are being expanded. By 2024, the supplier network will be expanded to secure the supply chain, and the make-or-buy strategy will be further developed and implemented.