Palfinger AG Announces Write-down of Russian Business

Palfinger AG, based in Austria, has announced a significant write-down of its operations in Russia. Following a recent Supervisory Board meeting, the decision was made to initiate a legal restructuring aimed at reinforcing the independence of the Russian entities. This strategic move is set to lead to the deconsolidation of these entities from the group's financial statements.

The company has identified an impairment loss of approximately EUR 135 million for the third quarter of 2026 due to Russian asset devaluations. While the Executive Board estimates an EBIT of EUR 120 million for Q1–Q3 2026, this impairment is excluded from EBIT and will affect net income distinctively.

Future net income is anticipated to be affected by a currency translation reserve, influenced by exchange rate fluctuations, currently estimated at EUR 45 million.