Board quartet should push Palfinger forward

It was routine for CEO Andreas Klauser and CFO Felix Strohbichler, and a premiere for Alexander Susanek and Maria Koller in their new functions: The board quartet announced details of Palfinger’s annual figures on Thursday.

Susanek, head of the BMW plant in Steyr for more than two years and most recently responsible for global drive production, has been responsible for the Salzburg crane manufacturer’s day-to-day operations since July 2023. Business psychologist Koller’s positions in the USA, at Magna in Germany and at the technology group Jenoptik led her to Palfinger; She has been responsible for human resources issues on the board since January 2024.

“We are happy about the new structure, it makes us more powerful,” said Klauser, who comes from Upper Austria. He, a former manager at CNH, and Susanek still know each other from their time in the Steyr area.

As reported, Palfinger achieved records in sales and earnings last year. Revenue rose by 9.9 percent to 2.45 billion euros, the operating result by 39.8 percent to 210.2 million euros, and the consolidated result by 50.8 percent to 107.7 million euros. At 8.6 percent, the EBIT margin was the best since the financial crisis of 2008. All of this was achieved despite geopolitical upheavals and rising interest rates, said Klauser. The crane manufacturer also benefited from higher prices.

“Yes, we are heavily dependent on the construction industry, but fortunately there is not only private house construction, but also infrastructure projects,” said the CEO. The crane manufacturer generates 40 percent of its sales from the construction industry, and forestry is also an important pillar.

Plants closed and opened

North America is a growth market with growth rates in the double-digit percentage range. Palfinger does 25 percent of its business in North America. The EMEA region (Europe, Middle East, Africa) takes up the lion’s share at 60 percent, with the Middle East as the driver. In the Asia Pacific region, India stood out.

Palfinger is reacting to shifts in demand. On the one hand, locations in Krefeld, Germany and Harderwijk, Netherlands, were closed, and on the other hand, a plant was opened in Nis, Serbia. Palfinger manufactures at 30 locations and employs 12,700 people, including more than 3,000 in Austria.

This article was updated on March 7, 2024 at 9:29 p.m