euro adhoc: Pankl Racing Systems AG
Quarterly or Semiannual
Financial Statements
Return to the black sustainably confirmed in
3rd quarter (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
- 7 percent sales increase in the first nine months
- increase of operating result from TEUR 102 to TEUR 1,390
- increase of accounting income by over 150 percent
~
QIII QIII 9-months 9-months
2003 2004 2003 2004 Vdg. 1-9
Sales revenues TEUR 18.322 20.036 52.290 55.883 + 7%
EBIT before R&D TEUR 222 2.174 3.528 5.216 + 48%
EBIT-margin before R&D % 1,21 10,85 6,75 9,33
R&D expenditures TEUR -1.938 -1.116 -3.426 -3.826 + 12%
EBIT after R&D TEUR -1.717 1.059 102 1.390 + 1.263%
EBIT-margin after R&D % -9,37 5,29 0,19 2,49
Financial result TEUR -321 -200 -456 -602 - 32%
Net income/period TEUR -1.681 516 -485 246 + 151%
Earings per share EUR -0,43 0,13 -0,12 0,06 + 150%
~Bruck an der Mur, 24.August 2004. In the first nine months of the current business year (1.10.2003 to 30.09.2004) Pankl Racing Systems AG shows sales amounting to 55.9 million EUR, which corresponds to an increase of almost 7 percent compared to the period last year (52,3 million EUR). The sales growth in the expired quarter first of all goes back to the segment Racing/Automobile. Additional business in the European top-racing series with current and new customers as well as a continuing strong demand for pistons in the USA had a positive impact on the sales in the third quarter.
3 % EBIT in spite of continuously high project expenditures
With a result before interest and taxes (EBIT) of 1.4 million EUR in first nine months of the current business year (1-9/2003: 0.1 million EUR) the company shows the sustainable return to the black. This result corresponds to an EBIT-margin of almost 3 percent (1-9/2003: 0.2 percent). The company achieved this significant improvement of the margin compared to last year in spite of continuously high R&D project expenditures amounting to 3.8 million EUR (1-9/03: 3.4 million EUR).
Before consideration of the costs for defined development projects, which are worked on besides the current development activities of the company, Pankl achieves a margin of more than 9 percent (1-3/2003: 7 percent).
Positive net income for the period
The net income in first nine months is TEUR 246 after TEUR -485 in the period last year. This corresponds to an increase of the net result by 150 percent. The result per share in the first nine months of the current business year therefore is 0.06 EUR (1-9/2003: - 0.12 EUR).
Outlook: "Back to Profit" - the realisation of this goal has highest priority for the company. In this business year Pankl calculates a maximum of 5.4 million EUR for R&D project expenditures. For this business year the predicted increase of sales will remain moderate between 5 to 10 percent.
Within the framework of a capital increase Pankl intends to take a 25 percent share in a Slovakian automobile supplier. The background of this strategic share is the possible outsourcing of additional orders in the serial connecting rod production for luxury automobile vehicles. Taking the share will be carried out at the latest by the end of August 2004.
You can find the 9-month report on our IR-Portal under: www.pankl-ir.com
end of announcement euro adhoc 24.08.2004
Further inquiry note:
Head of Investor Relations & Corporate Communications, Heidrun
Sölkner, Tel.: 0043 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