Palfinger AG — Earnings Release 2001

May 10, 2001

News Details

Ad-hoc | 10 May 2001 19:23

Ad hoc-Service: Palfinger AG english

Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– AD HOC RELEASE Palfinger posts continued growth in first quarter – south American acquisition planned o Acquisition of leading Brazilian crane manufacturer o Preparations for capital increase Bergheim/Salzburg, 10 May 2001 Despite a more difficult trading environment, Vienna listed Palfinger AG returned higher revenue and earnings in the first quarter. Consolidated revenue rose by 18.2 percent to EUR 86.8m (compared with EUR 73.5m in the like quarter of 2000). Earnings before interest and tax were up by 12.5 percent to EUR 11.8m (Q1 2000: EUR 10.5m). There were still stronger increases in the profit before tax, which advanced by 14.8 percent, from EUR 9.3m to EUR 10.7m and the consolidated net profit for the period – up by 15.2 percent, from EUR 6.1m to EUR 7.0m. Growth came from the satisfactory performance of the Hydraulic Systems Division, and in particular from higher sales of the French-made hook loaders, as well as the encouraging success of the launch of the company’s new Palgate product (hydraulic tailgates). The Agriculture & Forestry Division also contributed to the improvement in results. Together, the two businesses more than made up for the slight decline in the results of the Truck Cranes Division which was hardest hit by the deterioration in the business climate. As part of its global expansion strategy, Palfinger has taken an option to acquire an interest of some 91 percent in Madal S.A., Brazil. With revenue of EUR 11m, Madal is the South American market leader in hydraulic truck cranes and other hydraulic lifting equipment. The acquisiton marks the next stage in Palfinger’s internationalization strategy. Madal-Palfinger will have access not just to the Brazilian market but to the whole of South America. Madal has a network of about 35 dealerships in ten South American countries. Palfinger AG plans to increase its capital in order to finance its strategy of expanding its product range and markets, and the development of its e-logistics business. Preparations for this transaction, which is being lead managed by Deutsche Bank and co-managed by Austria’s Raiffeisen Zentralbank, are close to completion. Contact: Hannes Roither, Palfinger AG, Tel: +43 (0)662 4684 2260 end of ad hoc announcement (c) DGAP 10.05.2001 ——————————————————————————– WKN: 075830; Index: Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin, Düsseldof Frankfurt und Stuttgart 101923 Mai 01