Palfinger AG (PLFRF.PK,PLFRY.PK), an Austrian technology and machinery manufacturing company, reported Friday that its first-half consolidated net result grew 7.9 percent to 68.3 million euros from last year's 63.3 million euros.
EBIT edged up 0.8 percent from last year to 112.2 million euros, while EBITDA edged down 0.9 percent to 156.4 million euros.
EBIT margin improved to 9.5 percent from last year's 9.2 percent.
Revenue dropped 3.3 percent to 1.18 billion euros from last year's 1.22 billion euros amid geopolitical uncertainty and a challenging market environment in the European core markets.
However, the company recorded good development in North and Latin America, Asia and the Marine sector.
Looking ahead, the company projects a weaker second half year result due to the difficult market environment in Europe.
For the full year 2024, a slight decline in revenue compared to 2023's revenue of 2.45 billion euros is expected. The EBIT forecast is up to 20 percent below last year's 210.2 million euros.
Further, the company has set a target for 2027 of 3.0 billion euros in revenue with an EBIT margin of 10 percent and ROCE of 12 percent.
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