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Palfinger AG

EANS-Adhoc: Palfinger AG
Financial Figures Q3

  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.
9-month report
05.11.2009
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 
priority
|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%     |
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.
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.market
Börsen: Wien / official market

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