What a fiscal year: Record levels for revenue and consolidated net profit, the successful reorientation of the Segment SEA, the introduction of the GLOBAL PALFINGER ORGANIZATION (GPO), and a series of forward-looking measures. It’s safe to say that 2019 kept us busy in every respect. Revenue for the year rose to EUR 1.752 billion, despite the uncertain economy and high capital expenditures. Consolidated net profit for the year was EUR 80 million. Those are historical record highs for PALFINGER.
Initiatives for the future
At the same time, we reorganized our collaboration and breathed life into the new organizational structure: the GPO. We now communicate more quickly with one another, and we work together even better than before across all divisional boundaries – always having our clients in focus. That is the basis on which we will fully leverage our strengths in the coming years. All the more, as we got an entire bundle of supplementary and supporting initiatives off the ground. For example, the new ERP system S/4 Hana and the PALFINGER Process Excellence initiative.
Segment SEA on track
SEA is an example of what hard work, new structures, strategies, and partnerships make possible. We reached the operational break-even point in the second half of 2019 and thereby met the requirement for the Segment SEA to contribute more and more to the Group’s earnings in the coming years.
Proximity to the customers
Just as all of our customer-oriented solutions contribute to our success. It is the close relationship with our customers, our direct practical experience, and our innovative spirit that enable us to create ever more sophisticated and more efficient solutions for each application.
And that’s not all
The year 2019 was an essential first step toward a successful future. More steps will follow, year after year, in order to reach our targets. We are well-positioned.