Palfinger AG

EANS-Adhoc: Palfinger AG
PALFINGER wraps up first half of 2011 with strong growth


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6-month report

10.08.2011

- Revenue increased by 39.3 per cent, EBIT more than doubled
- Second-quarter revenue the highest in PALFINGER´s history
- Increased flexibility a major factor of success



|EUR million           |HY1 2011  |        %| HY1 2010| HY1 2009|
|Revenue               |     414.3|  + 39.3%|    297.4|    269.2|
|EBITDA*               |      50.1| + 101.4%|     24.9|      6.8|
|EBIT*                 |      36.0| + 147.4%|     14.5|    (4.2)|
|EBIT margin           |      8.7%|    -    |     4.9%|   (1.6%)|
   * incl. associated companies

Salzburg, 10 August 2011

In the first half of the financial year 2011  the  PALFINGER  Group  managed  to
continue the positive development recorded  primarily  since  the  beginning  of
2010. By comparison with the first half of 2010, huge  growth  in  both  revenue
and earnings was achieved. The economic growth continued to spur demand, on  the
one hand, and the measures implemented in previous  years  took  effect  on  the
other. By reducing costs and increasing flexibility, PALFINGER was preparing  to
face volatile markets, which  materially  supports  sustainable  and  profitable
growth both now and in the future.

At EUR 414.3 million, first-half revenue was 39.3  per  cent  above  the  figure
reported in the first half of 2010, when revenue was EUR 297.4  million.  Around
one third of this increase was due  to  inorganic  growth  through  acquisitions
made in 2010. Organic growth in revenue was generated largely in Europe,  though
a positive trend was observed in all the regions.

In the first six months of 2011, EBIT (incl. associated companies) came  to  EUR
36.0 million as compared to EUR  14.5  million  in  the  same  period  of  2010,
equivalent to more than a doubling of the earnings before  interest  and  taxes.
The consolidated net result was more than tripled, rising from EUR  7.3  million
in the first half of 2010 to EUR 22.6 million in the period under review.

A comparison of performance over the  individual  quarters  provides  convincing
evidence of a continuous upward trend  since  the  beginning  of  2010.  In  the
second quarter of 2011, revenue came to EUR 222.7, reaching  the  highest  level
in  PALFINGER´s  history.  The  exceptionally  large  boost  in  EBIT  including
associated companies, made an increase in EBIT margin to 9.4 per  cent  possible
in the second quarter of 2011.

Management´s outlook for 2011 is optimistic. However, the massive  growth  rates
achieved in the first half will slow down in the light of the expected  economic
developments and the traditionally weaker summer months. On  the  basis  of  the
current economic environment, it is estimated that organic revenue  growth  will
be more than 20 per cent. In addition, the areas North  and  South  America  and
the business units Access Platforms and Hookloaders are expected  to  make  more
substantial contributions to earnings.


Further inquiry note:
Hannes Roither, PALFINGER AG
Unternehmenssprecher
Tel.: +43 662 46 84-2260
mailto: h.roither@palfinger.com
www.palfinger.com

end of announcement                               euro adhoc 
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issuer:      Palfinger AG
             F.-W.-Schererstraße 24
             A-5020 Salzburg
phone:       0662/4684 2261
FAX:         0662/4684 2280
mail:     c.rendl@palfinger.com
WWW:      www.palfinger.com
sector:      Machine Manufacturing
ISIN:        AT0000758305
indexes:     ATX Prime, Prime Market
stockmarkets: official market: Wien 
language:   English
 

 

 



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