Palfinger Holding AG

ots Ad hoc-Service: PALFINGER AG Palfinger AG maintains high growth in first quarter. Turnover up by 41.9 percent. EBIT up by 62.0 percent. Consolidated net profit up by 78.1 percent

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    (ots Ad hoc-Service) -      

    Bergheim, Salzburg, 30 May 2000 - Palfinger AG, which listed one year ago, continued to record exceptionally high growth rates in the first quarter of 2000. Revenue was up by 41.9 percent to EUR 73.5 mn, from EUR 51.8 mn in the like quarter of 1999. This was mainly due to strong demand for truck cranes and container handling systems in Palfinger's European core markets - France, Italy Germany and Spain - and to sales success in North America.

    Earnings before interest and tax (EBIT) climbed by 62.3 percent, from EUR 6.5 mn to 10.5 mn EUR. This was attributable not just to increased sales revenue but also to long-term improvements in the cost base. The pretax profit rose by 75.5 percent to EUR 9.3 mn. The consolidated net profit for the first quarter of this year was EUR 6.1 mn, compared with EUR 3.4 mn in the like period of 1999 - an increase of 78.1 percent. Earnings per share for the first three months of 2000 were EUR 0.73.

    Management expects growth to persist throughout 2000. Consolidated revenue will near the EUR 290 mn (ATS 4 billion) mark. The growth of earnings should continue to outpace that of revenue. Management is aiming for an EBIT margin of 13 percent in 2000.

    The company's detailed quarterly report in German and English is posted on the Internet under


    Hannes Roither, Investor Relations PALFINGER AG Tel: (+43 662) 46 84 ext. 2260

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