Palfinger AG — Earnings Release 2002

May 21, 2002

News Details

Ad-hoc | 21 May 2002 08:55

Palfinger AG english

www.palfinger.com Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Palfinger Group turns corner in the first quarter of this year *Group overcomes slump of last two quarters of 2001 *Further increase in volume, revenue and earnings expected Bergheim/Salzburg, 21 May 2002 Palfinger turned the corner in the first quarter of this year. After slumping in the third and fourth quarter of 2001, volume, revenue and earnings rose steadily during the January*March 2002 period – a trend that was maintained in April. Despite the continued negative economic environment, revenue climbed to EUR 78.5 million (m) in the first quarter of 2002, following falls in the third and fourth quarters of 2001 (to EUR 77.0m and EUR 75.1m, respectively). However, in comparison with the like quarter of 2001 (EUR 86.8m) this still represented a year-on-year decline of 9.5 percent. EBIT also improved from the previous two quarters, rebounding to EUR 7.1m in the first quarter of 2002 from EUR 6.9m in the third quarter of 2001 and EUR 5.5m in the fourth. Nevertheless, EBIT was EUR 4.7m or 40.1% down on the outstanding first quarter posted in 2001 (EUR 11.8m). The picture was similar with consolidated net profit for the period which retreated to EUR 4.0m from EUR 7.0m in the first quarter of 2001, but was 31.6 percent higher than the EUR 3.0m registered in the fourth quarter. Management is basing its plans on the assumption that there will no major improvement in the business climate in the medium term, and the watchword for this year is therefore “consolidation at a high level”. Contact: Hannes Roither PALFINGER AG, Public & Investor Relations phone +43 (0)662 4684 2260 h.roither@palfinger.com http://www.palfinger.com end of ad-hoc-announcement (c)DGAP 21.05.2002 ——————————————————————————– WKN: 075830; ISIN: AT0000758305; Index: Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin, Düsseldorf, Frankfurt und Stuttgart 210855 Mai 02