EANS-Adhoc: PALFINGER profited from its international position in the first half
of 2012
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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.
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09.08.2012
* Revenue increased by 12 per cent despite difficult environment in Europe
* Strong growth in North America, South America and CIS
* China operations will probably be commenced before the end of 2012
* Moderate growth expected for 2012
EUR million HY1 2012 % HY1 2011 HY1 2010
Revenue 465.1 + 12.3% 414.3 297.4
EBITDA 52.2 + 4.0% 50.1 24.9
EBIT 37.2 + 3.3% 36.0 14.5
EBIT margin 8.0% - 8.7% 4.9%
In the first half of 2012, despite the prevailing difficult economic situation,
especially in Europe, the PALFINGER Group managed to continue its positive
performance of previous quarters. The revenue generated in the first half of
2012 reached another record figure, namely EUR 465.1 million, which is 12.3 per
cent above the revenue of EUR 414.3 million reported for the first half of 2011.
In the first six months of 2012, EBIT came to EUR 37.2 million; after EUR 36.0
million in the first half of 2011, this corresponds to an increase of 3.3 per
cent. In the second quarter of 2012, both revenue and EBIT were above the levels
recorded in the first quarter (revenue Q1: EUR223.9 million; Q2: EUR 241.2
million; EBIT Q1: EUR17.7 million; Q2: EUR19.5 million).
The increasingly challenging situation on the European markets was more than
compensated by the excellent growth in earnings achieved in the AREA UNITS
segment. In the first half of 2012 the EBIT margin was kept at a stable level of
8.0 per cent as compared to the previous quarters, despite the necessity of
stepping up resources in connection with the growth achieved in the areas
outside Europe. At EUR 23.9 million, the consolidated net result for the period
under review was higher than the EUR 22.6 million recorded in the first half of
2011.
The development of demand in North America, South America and CIS has been
positive for several quarters now, which is highly satisfactory. In comparison
with the first half of 2011, revenue generated by the AREA UNITS segment thus
rose by 55.1 per cent to EUR 149.0 million, which means that areas outside
Europe now account for 32.0 per cent of consolidated revenue. Consequently,
PALFINGER has also recorded a positive EBIT in the segment of the areas that are
still being developed.
The two joint ventures with Sany Heavy Industry, one of China's industrial
giants, will probably start operations before the end of the third quarter of
2012, after the approval of the competent authorities has been obtained. The
foundation for a successful entry into the Chinese market has thus been laid in
time to celebrate the 80th anniversary of the PALFINGER Group in 2012, and it is
assumed that the Group's leading position worldwide has been sustainably
safeguarded through this step.
Despite the uncertain development of the economy and of demand, particularly in
Europe, the management expects a moderate increase in revenue, coming from the
areas outside Europe, for the 2012 financial year. In addition, it is estimated
that the areas outside Europe will make even more substantial contributions to
earnings.
Further inquiry note:
Hannes Roither, PALFINGER AG
Unternehmenssprecher
Tel.: +43 662 46 84-2260
mailto:h.roither@palfinger.com
www.palfinger.com
end of announcement euro adhoc
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issuer: Palfinger AG
F.-W.-Schererstraße 24
A-5020 Salzburg
phone: 0662/4684 2261
FAX: 0662/4684 2280
mail: c.rendl@palfinger.com
WWW: www.palfinger.com
sector: Machine Manufacturing
ISIN: AT0000758305
indexes: ATX Prime, Prime Market
stockmarkets: official market: Wien
language: English