EANS-Adhoc: PALFINGER continued its growth with exceptionally high increase in
earnings
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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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Financial Figures/Balance Sheet/3-month report/Quarterly report
30.04.2015
* Record revenue of EUR 292.3 million (+10.7 per cent)
* EBIT increased by 15.5 per cent to EUR 23.6 million
* Consolidated net result rose by 21.4 per cent to EUR 14.5 million
______________________________________________________________________________
|EUR million_|________Q1 2015|______________%|________Q1 2014*|_________Q1 2013|
|Revenue_____|__________292.3|_________+10.7%|___________264.0|___________225.8|
|EBIT________|___________23.6|_________+15.5%|____________20.4|____________18.1|
|EBIT margin_|___________8.1%|______________-|____________7.7%|____________8.0%|
|Consolidated| | | | |
|net result__|___________14.5|_________+21.4%|____________12.0|____________11.0|
*The figures for the first quarter of 2014 were adjusted with retrospective
effect. For details, see the notes to the Interim Report for the First Quarter
published by PALFINGER AG.
Internationalization and enhanced flexibility as factors of success
The first quarter of 2015 was highly satisfying for the PALFINGER Group: Revenue
was stepped up by 10.7 per cent to EUR 292.3 million, EBIT increased by 15.5 per
cent to EUR 23.6 million, the EBIT margin once again exceeded the eight per cent
mark, and the consolidated net result rose by 21.4 per cent to EUR 14.5 million.
The primary reasons for the positive development of revenue, which was higher
than in any previous quarter, included the relatively stable business in Europe
and rising demand in North America, Russia/CIS as well as in Asia, mainly in
China. Revenue declined only in South America, where, however, PALFINGER still
managed to improve its competitive standing despite the sharply shrinking
market. In the marine business, the effects of the low oil price had a
noticeable impact on customers' willingness to invest; nevertheless, PALFINGER
continued its constant growth, achieving a 30 per cent increase in revenue.
The acquisition of Norwegian Deck Machinery AS (NDM) was closed in the first
quarter of 2015, providing an expansion of PALFINGER's marine product portfolio.
In Russia, the two joint ventures agreed upon with the leading truck producer
KAMAZ in 2014 were approved by the authorities, and operations commenced.
In the first quarter of 2015, the EUROPEAN UNITS segment increased its revenue
by 4.6 per cent to EUR 200.7 million (Q1 2014: EUR 191.1 million). The segment
saw a moderate increase in EBIT, which came to EUR 26.2 million (Q1 2014:
EUR 26.0 million).
The revenue of the AREA UNITS segment expanded by a notable 27.1 per cent to
EUR 91.6 million (Q1 2014: EUR 72.1 million). The segment's EBIT, which was
negative in the previous year due to bad weather, came to a clearly positive
EUR 1.5 million.
Outlook: Record revenue expected in 2015
For 2015, PALFINGER has identified additional growth potential. The management
therefore expects significant further increases in revenue in the 2015 financial
year.
In 2012, PALFINGER set itself the goal of increasing cumulative annual revenue
(including the joint venture companies) to approx. EUR 1.8 billion by 2017. The
management plans to reach this mid-term revenue target chiefly through organic
growth.
end of ad-hoc-announcement
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For further information please contact:
Hannes Roither, PALFINGER AG
Company Spokesperson
Phone +43 662 46 84-82260
h.roither@palfinger.com
Further inquiry note:
Both text and pictures are available in the newsroom of our website at
www.palfinger.ag.
end of announcement euro adhoc
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issuer: Palfinger AG
F.-W.-Schererstraße 24
A-5020 Salzburg
phone: 0662/4684 82260
FAX: 0662/4684 82280
mail: ir@palfinger.com
WWW: www.palfinger.ag
sector: Machine Manufacturing
ISIN: AT0000758305
indexes: Prime Market
stockmarkets: official market: Wien
language: English