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Pankl Racing Systems AG

euro adhoc: Pankl Racing Systems AG
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Preliminary Results 2003/04 Exceed Expectations

Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
- 15% Revenue Growth
- EBIT-Margin before R&D Project Expenses of about 10%
- EBIT-Margin after R&D Project Expenses of nearly 4%
- Net Profit for the Period of EUR 1.4m after a Loss of EUR 5.7m for
2002/03
Preliminary Figures 2003/04:
~
Q4-2003 Q4-2004  Chg.   FY 2003  FY 2004 Chg.
Revenues       EURm     14.1     20.4   +44.7%   66.4    76.3  +14.9%
EBIT before R&D EURm    -0.4      2.7   +775.0%   3.2     7.9 +146,9%
R&D-Project     EURm     1.9      1.4     26.3%   5.37    5.23  -2.6%
Restructuring   EURm     1.5      0.0    -        1.5     0.0     -
EBIT after R&D  EURm    -3.8      1.3    +134.2% -3.7     2.7  173,0%
Net Profit/Period EURm  -5.2      1.1    +121.2% -5.7     1.4  124,6%
EBIT- Margin before R&D -2.6%    13.2%   -        4.8%   10.4%     -
EBIT-Margin after R&D  -27.0%     6.3%   -       -5.6%    3.5%     -
Earnings per Share EUR  -1.34     0.3  121,2%    -1.5     0.36 124,6%
~
Bruck/Mur, 16th December 2004: In the fiscal year 2003/04 (1st
October 2003 until 30th September 2004), revenue growth of 15% to EUR
76.3m exceeded management expectations of a 5-10% increase. The main
reason for this development was significantly higher customer demand
in the traditionally weak fourth quarter (+45% versus Q4 of the
previous year). In particular, demand for connecting rods from the
top European racing categories and pistons from US-based racing
categories were markedly higher in the last few months of the fiscal
year compared to previous periods.
In the fiscal year 2003/04, EBIT of Pankl Racing Systems AG amounted
to EUR 2.7m and evidences that Pankl achieved its goal for the year
to return to profitability. R&D expenses, primarily the project
racing gearbox, continue to burden the bottom line. Such expenses
amounted to EUR 5.2m in 2003/04 versus EUR 5.4m in the year before.
EBIT margin before deduction of these R&D expenses amounted to 10%,
EBIT margin after deduction of these R&D expenses amounted to 3.5%.
Development project expenses in the motor racing segment amounted to
EUR 4m and R&D expenses for long-term aviation projects amounted to
EUR 1m.
2003/04Q4 Exceeded Management Expectations
The favourable development of revenues and earnings in the fiscal
year was primarily due to Q4 results exceeding management
expectations. Revenues increased by 45% to EUR 20.4m and EBIT after
R&D project expenses amounted to EUR 1.3m after a loss of EUR 3.8m in
2002/03Q4.
Publication of final results is scheduled for 10th January 2005. On
this day, the press conference for the presentation of the financial
statements is to be held.
end of announcement                    euro adhoc 16.12.2004 07:46:51 

Further inquiry note:

For further information:
Head of Investor Relations & Corporate Communications, Heidrun
Sölkner, Tel.: +43 3862 33 999 114; mail: ir@pankl.co.at; Internet:
www.pankl.com; IR-Portal: www.pankl-ir.com

Branche: Technology
ISIN: AT0000800800
WKN: 914732
Index: Prime Standard
Börsen: Frankfurter Wertpapierbörse / official dealing
Nasdaq Europe / official dealing

Plus de actualités: Pankl Racing Systems AG
Plus de actualités: Pankl Racing Systems AG