Palfinger AG

EANS-Adhoc: Palfinger AG
Financial Figures Q3

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9-month report


PALFINGER defied the continuously weak environment in the first three quarters 2009 by optimising costs

* Revenue continued to decline, but earnings have improved in the
course of      the year  * Since mid-year relevant markets have
bottomed out  * Uninterrupted market expansion continues to be a

@@start.t2@@|in million EUR                 |Q1-Q3 2009 |%          |Q1-Q3 2008|Q1-Q3 2007|
|Revenue                            |387.9         |(36.1%) |607.2        |504.6        |
|EBITDA                              |9.8            |(89.2%) |90.3         |84.0         |
|EBIT                                 |(6.3)         |-          |74.7         |73.3         |
|EBIT margin                      |(1.6%)        |-          |12.3%        |14.5%        |@@end@@

Bergheim, Salzburg, 5 November 2009

The performance of the PALFINGER Group during the first three quarters 2009  was marked by the extremely  weak  economic   environment.  Compared  to  the  record results achieved in the previous years the Company posted a massive  decline  in revenues and earnings. However, while revenue was  on  the  decline,  its  early reaction and adjustment to the changed framework  conditions  enabled PALFINGER to achieve a significant improvement of earnings from quarter to quarter,  which was even continued in the weaker season of the third quarter. At EUR 387.9 million, revenue generated in the first  three  quarters  2009  was 36.1 percent lower than the previous year´s figure of  EUR  607.2  million.  The WUMAG ELEVANT and Omaha Standard groups, which were consolidated in  the  second half 2008, contributed only just under EUR 55 million to this   revenue.  Despite this slump in revenue a positive EBITDA of EUR 9.8 million  (Jan-Sep  2008:  EUR 90.3  million)  was  achieved  thanks   to  PALFINGER´s  cost-savings    policies. However, at EUR - 6.3 million  EBIT  for  the  first  three  quarters  2009  was negative. A look at  the  performance  of  the  individual  quarters  clearly   shows  that PALFINGER has been able to optimise  its  costs  in  the course  of  the  year, although revenue continued to decline. While revenue in the third  quarter  2009 decreased further, which, amongst other factors, was also caused by the  company holiday  in  August,   EBITDA  and  EBIT  improved  continuously.  This  pleasing development, in particular as compared to  other  companies  in  this industry, highlights the strength of the PALFINGER Group. As an early-cycle company  PALFINGER  perceives  fluctuations  in  the   economic cycle - be they positive  or  negative  -  even  at  a  very early  stage.  The bottoming out of the relevant markets that already became  clear  in  the  first half 2009 was confirmed in the past few months;  demand  stabilised  at  a  low level.  Management  expects   that  the  implementation  of  the    infrastructure projects announced and/or agreed upon all  over  the  world  will  entail   clear impulses. The cost-cutting measures that are now increasingly showing effect are  expected to extend the gradual improvement of results into the fourth quarter  2009.  Due to the current low visibility, no reliable  forecasts  can  be  made  for  2010. However, on the basis of current  estimates,  Management  expects   earnings  and revenues to pick up.

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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,
Börsen:  Wien / official market

Weitere Meldungen: Palfinger AG

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