EANS-Adhoc: Palfinger AG PALFINGER wraps up first half of 2011 with strong
growth
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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
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announcement.
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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
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 announcement. Preliminary Results 24.01.2011 - 29-percent plus in revenue as a result of continuous recovery and expansion of the market - Excellent ...