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  Corporate news transmitted by euro adhoc with the aim of a Europe-wide 
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Quarterly Report 
 
Bergheim - 
 
* EBIT margin 9.9 percent despite cyberattack 
* Group revenue reaches EUR 405.9 million 
* Aiming for record year in 2021 
 
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 ______________________________________________________________________________ 
|in_EUR_million____|____________Q1/2020|____________Q1/2021|__________________%| 
|Revenue___________|______________393.2|______________405.9|______________+3.2%| 
|EBITDA____________|______________50.32|_______________58.5|_____________+16.3%| 
|EBITDA_margin_in_%|______________12.8%|_____________14.4_%|__________________-| 
|EBIT______________|_______________31.4|_______________40.0|_____________+27.6%| 
|EBIT_margin_in_%__|_______________8.0%|_______________9.9%|__________________-| 
|Consolidated net  |               15.5|               24.5|             +58.4%| 
|result____________|___________________|___________________|___________________| 
|Employees_________|_____________11,127|_____________10,905|__________________-| 
 
 
 
The economic recovery of the second half of 2020 continued during Q1 of 2021 
with a very positive impact on the development of earnings and revenue of 
PALFINGER AG in the first quarter. Thanks to a good product mix, the EBIT margin 
was 9.9 percent, that is clearly above the previous year's figure of 8 percent. 
 
Extra Shifts Compensate for Production Downtime 
"PALFINGER faced two-weeks of production downtime due to a cyberattack at the 
end of January, the consequences of which are being compensated for as quickly 
as possible. For this reason, extra shifts are being worked at our production 
sites," explains PALFINGER CEO Andreas Klauser. "We reacted fast and efficiently 
to the cyberattack, successfully limited the damage and restarted production in 
the shortest time possible," says Klauser. 
 
Working at Full Capacity thanks to Strong Economic Cycle 
The global economic recovery is reflected in PALFINGER's good order intake and 
consequently full order books; therefore, all plants are working at full 
capacity. Economic growth of 8.4 percent is forecast for China, 6.4 percent for 
the USA and 4.4 percent for Europe. The upturn is being driven largely by the 
construction industry. The timber industry is developing positively too. 
However, the upturn is accompanied by rising raw material prices which results 
in higher costs along the supply chain. "We also have to keep in mind the risk 
of limited material availability," says Klauser. 
 
Key Financials 
Revenue of PALFINGER AG amounted to EUR 405.9 million in Q1 of 2021 compared 
with EUR 393.2 million for the same period in the previous year. This represents 
an increase of EUR 12.7 million, or 3.2 percent. 
EBITDA increased by 16.3 percent compared with Q1 of 2020, to EUR 58.5 million. 
The operating result (EBIT) increased from EUR 31.4 million in Q1 of 2020 to EUR 
40.0 million in Q1 2021. The consolidated net result as at March 31, 2021 was 
EUR 24.5 million compared to EUR 15.5 million for the same period in the 
previous year. 
Net debt was able to be reduced significantly to EUR 386 million, thanks in 
particular to optimized working capital management. 
The equity ratio increased from 37.6 percent in the corresponding period of the 
previous year to 39.0 percent. The net debt to EBITDA ratio fell to 1.96 in Q1 
of 2021 and was below the target of 2.0 for the first time since 2011. 
 
Outlook 
For the full fiscal year 2021 management is aiming for a record year with 
revenues in excess of EUR 1.75 billion and an EBIT of more than EUR 149 million. 
However, despite full order books and the worldwide economic upswing, there are 
substantial risk factors such as supply chain limitations, higher raw material 
prices, production capacity bottlenecks and uncertainty concerning the COVID-19 
pandemic. 
 
 
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ABOUT PALFINGER AG 
The international mechanical engineering firm of PALFINGER is the global leader 
for innovative crane and lifting solutions. With a workforce of approximately 
11,000, 34 manufacturing sites and a worldwide network of dealerships and 
maintenance centers at over 5,000 locations, PALFINGER is always close to the 
customer. 
 
As the leader in its engineering field, the company aims to ensure its partners' 
business success in the long term by providing solutions and products that 
remain economically and ecologically viable in the future. Its broad product and 
model portfolio allows PALFINGER to take digitalization and the deployment of 
artificial intelligence to new levels. 
 
As a global company with strong roots in its home region, PALFINGER is convinced 
that thinking and acting in the interests of sustainability plays a vital role 
in successful business operations. This is why the company assumes social, 
ecological and economic responsibility along the entire value chain. 
 
PALFINGER AG has been listed on the Vienna stock exchange since 1999 and in 2020 
achieved a revenue of EUR 1.53 billion. 
 
 
 
 
Further inquiry note: 
Hannes Roither | Company Spokesperson | PALFINGER AG 
T +43 662 2281-81100 | h.roither@palfinger.com 
 
Texts and accompanying images are available in the "News" section of 
www.palfinger.ag, www.palfinger.com. 
 
 
end of announcement                         euro adhoc 
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(END) Dow Jones Newswires

April 30, 2021 01:55 ET (05:55 GMT)