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Palfinger AG

EANS-Adhoc: Palfinger AG
Q1_2009

  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.
quaterly report
05.05.2009
PALFINGER senses stabilisation of weak markets
o Markedly lower revenues and negative EBIT reported in the first 
quarter 2009  o Market stabilisation noticeable in some areas  o 
Sound basis for long-term strengthening of the PALFINGER Group is in 
place
|in million EUR           |Q1 2009 |%       |Q1 2008 |Q1 2007 |
|Revenue                  |140.4   |(32.8%) |208.9   |162.4   |
|EBITDA                   |2.0     |(94.3%) |34.3    |27.2    |
|EBIT                     |(3.2)   |-       |29.5    |24.0    |
|EBIT margin              |(2.3%)  |-       |14.1%   |14.8%   |
In consideration of the weak economic climate, the PALFINGER Group, 
as expected, did not continue its growth. After five record years in 
a row the Group posted a decline in revenues and earnings in the 
first quarter 2009. At EUR 140.4 million, revenue reached the level 
of 2006 and was 32.8 percent lower than the previous year's figure of
EUR 208.9 million. This slump in revenue has resulted in a negative 
EBIT of EUR - 3.2 million after EUR 29.5 million in the first quarter
2008. Due to its early response and its cost-savings policies, 
PALFINGER still managed to achieve a positive EBITDA.
The first quarter 2009 was characterised by the implementation of 
additional measures to reduce costs in all corporate areas and by 
process optimisation projects. Utilisation of the production 
capacities was supported by means of targeted insourcing and 
manufacturing for third parties.
The divergent development of the individual product areas clearly 
shows that the crane business, which is primarily dependent on the 
construction and truck industries, is more severely affected by the 
current macroeconomic situation than the divisions of the HYDRAULIC 
SYSTEMS & SERVICES segment.
Following a distinct slowdown in  order  intake  in  2008,  the  
inventories  of dealers were also reduced. This allows PALFINGER to 
return to  using  the  weak, but stabilising market as a means of 
direct orientation.
Management takes the general uncertainty of the markets into account 
by increasingly analysing various scenarios in order to be prepared 
for any developments that may take place. From today's point of view,
it is not possible to provide a reliable outlook for the entire year 
2009.
The PALFINGER Group's solid corporate basis and the high quality of 
its products in combination with the strong service and dealer 
network prove to be enormous competitive advantages, in particular in
times of uncertainty. Moreover, the strengthening of PALFINGER's 
financial structure by issuing promissory note bonds will support the
Group in actively exploiting potential market opportunities.
end of announcement                               euro adhoc

Further inquiry note:

Hannes Roither, PALFINGER AG
Company Spokesperson
Phone +43 662 46 84-2260
h.roither@palfinger.com

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

Plus de actualités: Palfinger AG
Plus de actualités: Palfinger AG