Palfinger Shares Fall After Company Issues Profit Warning
By Cecilia Butini
Shares in Austrian crane maker Palfinger AG fell in opening
trade Friday after the company issued a profit warning late
Thursday reporting significant cost increases and supply-chain
At 0824 GMT, Palfinger traded down 8.3% at EUR30.35
The company said it expects earnings before interest and taxes
in the January-March and January-June periods to come in far below
levels from the previous year, though it also said price increases
in the second half of the year should be able to compensate for the
fall in EBIT.
Analysts at Hauck Aufhaeuser said expected better development in
the second half might not be enough to see a significant
improvement in profitability levels.
"While top-line should be above 2021 levels due to strong demand
and price increases, profitability is seen to remain on 2021
levels," the bank said.
Write to Cecilia Butini at email@example.com
(END) Dow Jones Newswires
January 21, 2022 03:50 ET (08:50 GMT)
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