EANS-Adhoc: Preliminary results 2010: Upward trend of PALFINGER emphasised by marked gains in earnings
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Preliminary Results
24.01.2011
- 29-percent plus in revenue as a result of continuous recovery and expansion of the market - Excellent improvement in earnings due to measures for optimisation of cost and organisational structure - Proposal to distribute a dividend of EUR 0.22 per share - Optimistic outlook for 2011: further growth in revenue of approximately 20 percent
|million EUR |2010e |% |2009 |2008 |
|Revenue |650 |+ 29% |505.4 |794.8 |
|EBITDA |58 |+ 254% |16.4 |97.8 |
|EBIT |35 |- |(5.0) |69.1 |
|EBIT margin |5% |- |(1.0%) |8.7% |
|Dividend per share(EUR |0.22* |- |0.00 |0.39 |
* As proposed by the Management BoardSalzburg, 24 January 2011
Following the economic turbulences over the past few years, the PALFINGER Group resumed a distinct upward trend in the 2010 financial year. Thanks to the recovery of significant markets and the further expansion of the market, revenue came to EUR 650 million in 2010, which is 29 percent above the previous year´s figure of EUR 505.4 million. The acquisitions carried out contributed approximately 7 percent to the revenue generated. EBIT came to EUR 35 million, after being in negative territory by EUR - 5 million in 2009. The systematic implementation of measures aimed at optimising the cost and organisational structure that had taken place in previous years was essential in bringing about this exceptionally high increase in earnings. The EBIT margin amounted to approximately 5 percent.
Thanks to the pleasing earnings development, the Management Board is presumably going to propose to distribute a dividend of EUR 0.22 per share.
Outlook It is largely owed to the flexible structures of PALFINGER that the Group has been able to turn the crisis to its advantage. Due to the fact that markets are
expected to remain volatile, a further increase in flexibility has become one of the strategic pillars that will be reinforced in the future.
In the first weeks of 2011, PALFINGER saw a continued recovery of the market. From today´s point of view, management therefore reckons with a 20-precent increase in revenue for the 2011 financial year. The expansion of the market, in particular in the young areas of Russia and Asia, is to be continued and add to further revenue growth.
The above-mentioned figures are indications from a projected calculation based on IFRS. The final results will be published on 23 February 2011.
end of announcement euro adhoc
Further inquiry note:
Hannes Roither, PALFINGER AG
Unternehmenssprecher
Tel.: +43 662 46 84-2260
mailto:h.roither@palfinger.com
www.palfinger.com
Branche: Machine Manufacturing
ISIN: AT0000758305
WKN: 919964
Index: ATX Prime, Prime Market
Börsen: Wien / official market