euro adhoc: Palfinger AG
quarterly or semiannual financial statement /
PALFINGER AG - record performance 3rd Quarter 2005
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
15.11.2005
Another PALFINGER record performance Turnover was increased by 31.7%, EBIT by 79.4% Crane segment as main driver
PALFINGER, the worldwide leader of knuckle-boom cranes, could continue its successful performance of the first half-year also in the third quarter. The all-time high of the second quarter could even be outperformed in the third quarter slightly. Besides the core business crane in Europe the high capacity-utilization in all production areas and the successful establishment of cylinder production in Tenevo / Bulgaria are mainly responsible for the strong growth.
PALFINGER raised its turnover compared to last year by 93.0m EUR or 31.7% to 386.0m EUR. Due to the above-average EBIT increase by 79.4% to 52.9m EUR the EBIT margin could be boosted to 13.7% in the first three quarters.
Consolidated earnings were doubled to 37.9m EUR, which corresponds to an earnings per share of 4.30 EUR.
As a result of the turnover increase by 32% and the first-time consolidation of the British acquisition RATCLIFF PALFINGER at the beginning of August, which contributes 4.8m EUR to the turnover, the balance sheet total went up. At the same time, however, equity ratio was raised to 51.4%.
In the product segment the profitable crane business in Europe is characterized by a shift in demand towards high-performance cranes and high-grade fittings and is additionally boosted by market growth in North America and further market penetration of PALFINGER cranes in South America. EPSILON was able to continue its growth effectively. The segment services could not only raise its turnover, but also achieve a positive operational result.
In 2005 the definitive start for Asia as a strategic area was realized. As Singapore was nominated headquarter for Asia, organizational and functional structures were further pushed.
For the whole year, as already announced, we expect a new record in turnover and EBIT again. Besides the implementation of PALFINGERs strategy on innovation, internationalization, and diversification PALFINGER will focus on hedging and optimizing the excellent profit situation of the crane segment and on the necessary and sustainable profit increase in the weaker product range in the segment hydraulic systems.
end of announcement euro adhoc 15.11.2005 07:29:47
Further inquiry note:
Hannes Roither, PALFINGER AG
Company spokesperson
Tel. +43 662 46 84-2260
h.roither@palfinger.com
www.palfinger.com
Branche: Transport
ISIN: AT0000758305
WKN: 919964
Index: ATX Prime
Börsen: Wiener Börse AG / official dealing