CFA Research Challenge 2024/25 The Local Level Final: The decision has been made
Vienna, February 28, 2025 - The CFA research challenge is a (CFA-sponsored) competition between student teams that
research a publicly traded company (public information, management meeting),
prepare a written report („initiation-of-coverage sell-side equity research report“), and
present their findings to a panel of judges.
The CFA research challenge has four competition levels
Local level (Austria, Vienna) => winning team will participate in
Sub-regional level final (March, pre-recorded, online) = > winning team(s) will participate in
EMEA-Regional level semifinal (April live, online) => winning team will participate in
EMEA-Regional level final (April live, online) and Global level final (May, live in Chicago, USA).
6,700 students from 1,000+ universities participated in 2023/2024. Last year’s winning team came from University of Waterloo.
The decision
In 2025 Team Vienna University of Economics and Business led by Prof. Manfred Frühwirth and mentored by Harald Wimmer, CFA won the competition and will represent CFA Society Austria at the Sub-regional level final.
Winning Team: 4th from left Prof. Manfred Frühwirth (Faculty Mentor of Winning Team Research Challenge)
Teams and mentors 2025
All participating teams of the Research Challenge and Jury members and Professors
Subject company 2025 – PALFINGER AG
Industry: Industrial Engineering & Machinery
Sub-Industry: Technology and Innovation
Key details
Headquartered in Bergheim (Salzburg), Austria
Operates in 33 countries worldwide and total headcount of 12.500 employees
Global leadership in: cranes, skiploaders, marine cranes and lifesaving equipment
Selected financials (in EUR, FY23)
Revenue: 2,5 bln
EBITDA: 303 mln
EBIT: 210 mln
Please send any questions to:
Harald P. Holzer, CFA
Präsident CFA Society Austria & Member of the Managing Board