Palfinger Holding AG

ots Ad hoc-Service: PALFINGER AG

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    Salzburg - Vienna (ots Ad hoc-Service) -      

    Palfinger doubles earnings per share in the first six months Steady growth in sales of cranes and hook-loaders - Integration of Guima Group attributes significant improvement in sales, purchase and production.

    in EUR mn according to IAS HY1 2000  +/- in %  HY1 1999

    Revenue                                 156,8         39,3        112,5
    EBIT                                        23,0         83,9         12,5
    Profit before tax                  20,8         97,1         10,5
    Consolidated net profit         13,5         93,8          6,9
    Earnings per share                 1,62        102,5          0,8

    In the first six months of this year, the Palfinger Group has succeeded in remaining on track with its "controlled growth" policy. As a result of the continuing strong demand for cranes and hook loaders (container handling systems), sales climbed by 39.3 percent to EUR 156.8 million (mn). Worldwide, the Group sold 9,129 cranes and systems. The Guima Group, acquired last year, contributed EUR 16.8 mn or 10.7 percentage points to this growth. Earnings before interest and tax (EBIT) grew by 83.9 percent to EUR 23.0 mn, rising faster than revenue. This significant improvement is attributable not only to the Company's success in the marketplace, but also to better management of costs, the successful integration of the Guima Group resulting in lower purchasing prices, and the satisfactory performance of the Group's centralized after-sales service operation. Net of Guima Group earnings, EBIT growth is 65.1 percent.

    Earnings per share more than doubled from the like period of 1999. For the half-year ended 30 June 2000 earnings per share were EUR 1.62 compared with EUR 0.80 for the six months ended 30 June 1999.

    The strength of the earnings position is reflected in the increase in net cash from operating activities, which was up from EUR 10.5 mn in the first half of 1999 to EUR 23.4 mn as of 30 June 2000. The year-on-year increase for the first half was 122.9 percent.

    Management expects Group performance to continue along the same lines in the second half.


    Hannes Roither, Palfinger AG, Public Affairs & Investor Relations

    +43-662-46 84 DW 2260 oder +43-664-206 92 47

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