Palfinger AG

EANS-Adhoc: PALFINGER reports continued growth in the third quarter of 2011

  ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
  distribution. The issuer is solely responsible for the content of this
9-month report


- Revenue increased by 34 per cent in the first three quarters of 2011, EBIT
   more than doubled
 - Uncertainty noticeable in Europe, but stability at a good level in young
 - Flexibility and internationalization are to guarantee further growth
 - Outlook for 2011 remains unchanged

|in million EUR      |Q1-Q3 2011 |         % |Q1-Q3 2010 |Q1-Q3 2009 |
|Revenue             |     624.0 |   + 34.2% |     464.9 |     387.9 |
|EBITDA*             |      73.5 |   + 82.3% |      40.3 |      12.3 |
|EBIT*               |      52.4 |  + 121.6% |      23.7 |     (3.9) |
|EBIT margin         |      8.4% |      -    |      5.1% |    (1.0%) |

   * incl. associated companies

Salzburg, 10 November 2011

The performance of the PALFINGER Group over the first  three  quarters  of  2011
was extremely satisfactory. Despite  the  new  bouts  of  uncertainty  over  the
further  economic  development  of  Europe,  PALFINGER  was  able   to   achieve
significant organic growth as compared with 2010.

On the one hand, economic growth spurred demand  in  the  period  under  review,
while, on the other hand,  the  measures  implemented  in  previous  years  took
effect. By reducing costs and increasing  flexibility,  PALFINGER  has  prepared
itself to face volatile  markets,  which  materially  supports  sustainable  and
profitable growth both now and in the future.

At EUR 624.0 million, the revenue generated in the first three quarters of  2011
was 34.2 per  cent  above  the  figure  reported  for  2010,  when  revenue  was
EUR 464.9 million. EBIT (incl. associated companies) came  to  EUR 52.4  million
as compared to EUR 23.7 million in the same period  of  2010,  corresponding  to

more  than  a  doubling  of  the  earnings  before  interest  and   taxes.   The
consolidated  net  result  for  the   period   almost   tripled,   rising   from
EUR 11.7 million in the first three quarters of 2010 to EUR 32.7 million in  the
period under review.

The positive development continued over the individual quarters of 2011. In  the
third quarter, the company holiday at the European sites has to  be  taken  into

account which is reflected primarily in the  quarterly  earnings.  Nevertheless,
revenue (Q1: EUR 191.6 million; Q2: EUR 222.7 million;  Q3:  EUR 209.7  million)
and EBIT (Q1: EUR 15.1 million; Q2: EUR  20.9  million;  Q3:  EUR 16.5  million)
were again higher than in the first quarter.

In the third quarter of 2011, revenue amounted to EUR 209.7  million,  which  is
25.2 per cent higher  than  in  the  same  period  of  2010,  when  revenue  was
EUR 167.5 million. EBIT rose from EUR 9.1 million in the third quarter  of  2010
to EUR 16.5 million, corresponding to an 81.4 per cent increase.

On the whole, the Group´s performance in Europe was highly  satisfactory.  While
revenue in numerous markets significantly increased  compared  to  the  previous
year, some  weak  markets  continued  to  show  a  modest  performance.  Growing
financial uncertainty over the third quarter was  reflected  in  a  lower  order
intake in recent months, particularly in Europe.

The markets outside Europe have been characterized by  growth  and/or  stability
at a satisfactory level. With approximately 3 per  cent,  the  markets  in  Asia
currently still  only  account  for  a  small  share  of  PALFINGER´s  business.
However, the sharp increase in revenue  generated  in  the  region  demonstrates
that these markets are gaining in importance. With production  sites  in  China,
Vietnam and - since the end of 2010 - also in India, PALFINGER is well  prepared
for further growth.

The current developments in the financial markets in Europe are likely  to  have
an impact on the real economy as well and thus also on the markets that  are  of
relevance for PALFINGER. Nevertheless, PALFINGER is confident that a decline  in
performance will not reach the same dimensions as in 2008:  The  optimized  cost
structure, enhanced processes and above all the reduction of inventories at  all
value-creation stages -  from  suppliers  to  dealers  -  enables  PALFINGER  to
flexibly respond to changes in market demand.

Against this backdrop, the management expects the defined target of 20 per  cent
organic growth to be achieved in 2011. In addition, the areas  North  and  South
America and the business units Access Platforms and Hookloaders are expected  to
make even more substantial contributions to earnings.

Further inquiry note:
Hannes Roither, PALFINGER AG
Tel.: +43 662 46 84-2260

end of announcement                               euro adhoc 

issuer:      Palfinger AG
             F.-W.-Schererstraße 24
             A-5020 Salzburg
phone:       0662/4684 2261
FAX:         0662/4684 2280
sector:      Machine Manufacturing
ISIN:        AT0000758305
indexes:     ATX Prime, Prime Market
stockmarkets: official market: Wien 
language:   English



Das könnte Sie auch interessieren: