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Palfinger Holding AG

euro adhoc: Palfinger AG
Earnings Forecast
Expected results for 2004: Company achieves record revenue

Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
20.01.2005
Expected results for 2004: Palfinger achieves record revenue 
Revenue goes up 20.9 percent - EBIT increased by 61.5 percent -
Profitability improved by 33.8 percent
Kitzbühel, 20 January 2005
2004 was an exceptionally successful business year for the Palfinger
Group. Group-wide implementation of the "Global Palfinger Structure"
from 1 January 2004 has become the foundation for further growth
through increased customer proximity with regard to markets and
production. After afirst quarter marked by extensive IT changeovers
involving capacity adjustments, the company recorded outstanding
revenue and results together with very high order intakes in all
product divisions during the remaining year.
In 2004 revenue reached the record level of EUR 404.0m. EBIT
developed exceptionally well and was increased by 61.5 percent
compared to the previous year, to EUR 41.5m, yielding the second-best
results in the company's history. The Group’s EBIT margin climbed
above the 10 percent mark in 2004.
Especially in the first half of 2004, high capacity utilization and a
generally high demand for raw materials led to increases in materials
prices and supply bottlenecks in spite of annual agreements. Price
increases were partially passed on to the market from September.
With effect from 1 December 2004 Bison Palfinger GmbH was
incorporated into the Palfinger Group. As the German market leader in
truck-mounted aerial work platforms, Bison generated annual sales of
about EUR 13 million with a staff of 130 in 2003. Synergies are
mainly expected in materials purchasing and distribution. Expansion
of the aerial work platforms product portfolio is an important step
in line with the Palfinger Group’s diversification strategy. In the
medium term Palfinger is aiming at European market leadership in
truck-mounted aerial work platforms.
Relocation of value-added to Bulgaria was reinforced in 2004.
Cylinder production was relocated to Tenevo, where the majority of
required cylinders was being manufactured by the end of 2004. In the
future, a number of individual production stages are also to be moved
to the Cherven Brijag location to further optimize the company’s cost
structure.
In line with the strategy of distributing about one third of
consolidated income, shareholders may expect a significantly
increased dividend for 2004. Growth is set to continue over the
coming years based on improved requisite conditions, especially the
new structure of the Palfinger Group. For 2005 the management is
aiming to achieve further substantial increases in revenue and
results.
Figures are forecasts based on IFRS preview calculations. Final
results will be published on 16 March 2005.
end of announcement                    euro adhoc 20.01.2005 07:30:06 

Further inquiry note:

Hannes Roither, PALFINGER AG
Unternehmenssprecher
Tel.: +43 662 46 84-2260
mailto:h.roither@palfinger.com
www.palfinger.com

Branche: Transport
ISIN: AT0000758305
WKN: 758305
Index: ATX Prime
Börsen: Wiener Börse AG / official dealing

Original content of: Palfinger Holding AG, transmitted by news aktuell