Palfinger AG

euro adhoc: Financial Figures/Balance Sheet
PALFINGER Group - Preliminary results 2008

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Company Information


Preliminary results 2008 of the PALFINGER Group underline strong market position

o Growth in revenue continued despite market decline o EBIT decrease reflects market changes and necessary adjustments o Proposed dividend of EUR 0.39

|in million EUR              |2008e    |%          |2007      |2006      |
|                                    |            |            |            |            |
|Revenue                         |795        |14%        |695.6    |585.2    |
|EBIT                              |69         |- 31%    |99.6      |77.0      |
|EBIT margin                  |8.7%      |-          |14.3%    |13.2%    |

The PALFINGER  Group  was  not  spared  the  effects  of  the   adverse  economic environment in 2008, but managed to record a satisfactory  business  development against this background. In particular the strong crane business in Europe of the first half of 2008  and three acquisitions, which took effect in 2008, allowed the Group once  again  to report a double-digit growth in revenue  from   EUR 695.6  million  in  the  2007 financial year to EUR 795 million. The  way  earnings  developed  reflected  the increasingly weaker   market  environment  more  clearly.  EBIT  went  down  from EUR 99.6 million to EUR 69 million, which was  a  sign  of  the  greater   weight given to  hydraulic  systems  due  to  the  declining  crane   business  and  the acquisitions carried out; revenue was also brought down by the accounting  rules applying to acquisitions, the necessary depreciation and impairment, as well  as the costs for the Group's social plan. Subject to the approval of the Supervisory  Board,  the Management  Board  will propose to the Annual General Meeting to distribute a dividend in the amount  of EUR 0.39 per share for the 2008 financial year (previous year: EUR 0.70). The development of the overall economy  will  continue  to  have  a  significant influence on the Group's business performance in 2009. At present  PALFINGER   is feeling the consumers' reluctance to make investments, but   government  aid  and economic  support  programmes  are  expected  to reinvigorate    infrastructure investments. Management deliberately has chosen not  to  counteract  utilisation beyond capacity in the   first  months  of  2009  in  order  to  have  sufficient flexibility in case of a recovery of the market. Moreover, PALFINGER launched  a project to  strengthen  the  Group's  earnings  and  financial   structure.  This project is based on  further  savings  in  fixed   costs,  process  improvements, revenue increases, and measures to   reduce  the  capital  employed.  The  growth generated in 2008 shows that in an uncertain environment PALFINGER  is  able  to profit from its strong market position and make use of its opportunities. The above-mentioned figures are indications from a projected  calculation based on IFRS. The final results will be published on 25 February 2009.

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ots Originaltext: Palfinger AG
Im Internet recherchierbar:

Further inquiry note:
Hannes Roither, PALFINGER AG
Company Spokesperson
Phone: +43 662 46 84-2260

Branche: Machine Manufacturing
ISIN:      AT0000758305
WKN:        919964
Index:    ATX Prime, ATX
Börsen:  Wiener Börse AG / official market

Weitere Meldungen: Palfinger AG

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