Palfinger Holding AG

ots Ad hoc-Service: PALFINGER AG Record-breaking year for Palfinger AG Preliminary results for 1999 again show earnings growing faster than revenue

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    Salzburg/Frankfurt am Main (ots Ad hoc-Service) -  

    . Revenue up 24.4 percent     . EBIT up 26.7 percent     . Profit before tax up 32.5 percent

    1999 was another record year for Vienna listed, Salzburg based Palfinger AG. In the past financial year the global market leader in truck-mounted knuckle boom cranes, and hydraulic lifting and handling systems sold a worldwide total of 13,626 cranes and systems compared with 10,392 in 1998. Revenue climbed by 24.4 percent to EUR 242.2 million (1998: EUR 194.6 mn). Earnings before interest and tax (EBIT) increased by 26.7 percent to EUR 25.6 mn despite exceptionals in the shape of the cost of the initial public offering and the acquisiton of Guima. This corresponds to an EBIT margin of 10.6 percent. Pretax earnings outpaced revenue growth still more markedly, rising by 32.5 percent to EUR 21.6 mn in 1999 (1998: EUR 16.3 mn). Preliminary IAS consolidated retained profit for the year is EUR 13.8 mn, or EUR 1.60 per share.

    Preliminary Results 1999:
    According to IAS      1999 in      1999 in      1998 in      +/- in
                                    Mio ATS    Mio Euro      Mio Euro  Prozent
    Revenue                        3.333        242,2         194,6      +24,2
    EBIT                            352,3         25,6          20,2      +26,7
    Profit before              297,2         21,6          16,3      +32,5
    tax

    Retained profit          189.9         13,8          10,6      +30,2

    The Annual Report will be presented on March 28th in Vienna, AGM will be held in Salzburg on April 14th.

    For further information please contact Palfinger AG, Klaus Reisinger, Spokesman, +43-664-455 18 56, or Annelie Dubinin, +43-662-46 84-2274, a.dubinin@palfinger.com www.palfinger.com

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