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Palfinger Holding AG

ots Ad hoc-Service: PALFINGER AG <AT0000758305> Press conference to announce results

Saklzburg/vienna (ots Ad hoc-Service) -

The sender is solely responsible for the contents of this
announcement.
    ADHOC INFORMATION
Palfinger puts in another outstanding growth performance with
second successive record-breaking year
. Turnover up 24.9 percent
   . EBIT up 33.6 percent
   . Pre-tax profits up 47.2 percent 
   . Retained profits up 57 percent
   . Improvements due to sales success, cost reductions and
     acquisitions
   . Dividend 57 cents per share
   . Continuing growth expected
Salzburg/Vienna , 28 March 2000
   (according to         1998        +/-       1999     1999
   IAS)                  EUR mn    percentage  EUR mn   ATS mn
   Sales volume             10,392      +31.1   13,626
   (number of systems
   Revenue                   194.6      +24.9    243.2    3,347
   EBIT                       20.2      +33.6     27.0      371
   Profit before tax          16.3      +47.2     24.0      331
   Profit after tax           10.4      +52.9     15.9      219
   Retained profits           10.6      +57.0     16.8      231
   Employees                 1,268      +12.3    1,424
   (average)
Rapid growth
For Vienna listed Palfinger AG, 1999 was the second
record-breaking year in succession. Marketing success lifted the
volume of cranes and systems sold by 31.1 percent. Revenue grew by
24.9 percent to EUR 243.2 million(ATS 3,347 million). Profits have
risen more than proportionally. Despite flotation expenses and the
cost of acquisitions, EBIT climbed by 33.6 percent to EUR 27 million
(ATS 371 million). The EBIT margin for 1999 was 11.1 percent,
compared to 10.4 percent for the previous year. Net of exceptional
items, percentage EBIT was 12 percent.
Dividend 57 cents per share, yield 2.7 percent
As a result of increased investment earnings, the share, yield
following results rose even more markedly. The 2.7 percent IAS-based
consolidated after-tax profits for 1999 amounted to EUR 16.8 million
(ATS 231 million). Compared to 1998's EUR 10.6 million this was an
improvement of 57 percent. A dividend of 15 eurocents per share is
being distributed to shareholders. On the basis of the issue price of
EUR 21 per Palfinger share, this represents a yield of 2.7 percent.
Further growth is expected in the year 2000. At the end of 1999,
order backlog stood at a record EUR 58.6 million - 55 percent up on
the previous Flotation and year-end level of EUR 37.8 million. As a
result acquisition of this growth and of the acquisition of the open
up new French Guima S.A. group, the payroll rose to 1,631.
Flotation and  acquisition open up new  perspectives for Palfinger
Last year marked two milestones in Palfinger's
history. The stock exchange flotation strengthened Palfinger's
capital base and put it on the international map, while the
acquisition of the world's second largest producer of hook loaders,
the French Guima S.A. group, created a second core business. It is
Palfinger's declared aim to gain the world market leadership in this
segment, too. With 251 employees, Guima last year posted some EUR 32
million in revenue and EBIT of EUR 6.1 million.
Innovations accompany growth
Further acquisitions were a distribution company accompany in
Norway - an important market for Palfinger - growth and steel
fabrication capacity in Bulgaria. Placing this capacity at the
disposal of a longstanding supplier has made it possible to target
further cost reductions in the component manufacture and procurement.
New container transfer system increases efficiency of multimodal
transport
In 1999 Palfinger once again demonstrated its technological
leadership by bringing two new system developments to market. The
vibration suppression increases system originally developed for the
world's largest bridge inspection system has been adapted for series
production of truck cranes, and is available as a special feature for
all types of crane. This system enhances operator friendliness and
safety, and the range of uses to which cranes can be put.
The year's second significant innovation is in the field of
multimodal transport. A truck- mounted container transfer system
makes it possible to load a container from truck to rail, or vice
versa, in only a few minutes and without additional equipment. This
increases the efficiency of regional multimodal transport to such an
extent that for the first time it can become competitive for
distances of less than 500 kilometres.
Management is confident that it can keep the company on track for
more strong growth this year.
Shareholder information:
EUR                     1998      1999
Earnings per share        1.42       2.09
Dividend per share        0.21       0.57
Issue price                            21
Market price on 13
March 2000                             24
Relative performance
(ATX 50)                            +18.7
Market capitalization
on 13 March 2000               200,880,00
                                        0
Security ID no.                    075830
Contact
Palfinger AG, F.-W.-Schererstrasse 24, A-5101 Salzburg-Bergheim
Tel: (+43 662) 46 840
Fax: (+43 662)45 00 84
www.palfinger.com
Klaus Reisinger (Spokesman) ext. 2128 
k.reisinger@palfinger.com
End
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