EANS-Adhoc: PALFINGER profited from its international position in the first half of 2012

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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