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ots Ad hoc-Service: PALFINGER AG <AT0000758305> Palfinger maintains rapid expansion and posts improved results Increased earnings due to strong demand and production cost savings

Bergheim/Salzburg (ots Ad hoc-Service) -

Ad hoc-announcement edited and sent by DGAP. The sender is solely
responsible for the contents of this announcement.
in EUR mn according    Q1-3 2000  +/- in  Q1-3 1999
to IAS                                 %
Revenue                    233.0    38.9      167.7
EBIT                        33.0    87.8       17.6
Profit before tax           29.7   102.1       14.7
Consolidated net            20.0   111.2        9.5
profit
Earnings per share          2.39   117.3       1.10
Figures for the first three quarters of this year show that the
Palfinger Group maintained the rapid rate of expansion witnessed in
the first half. Consolidated revenue rose by 38.9 percent, from EUR
167.7 million (mn) to EUR 233.0 mn. This success was attributable to
the sustained upturn in demand for truck cranes and container
handling systems. The Group sold a worldwide total 12,435 cranes and
systems. The gain in cash flow from operating activities outstripped
that in revenue, climbing from EUR 16.3 mn to EUR 32.1 mn - an
increase of 97.0 percent.
The earnings indicators recorded higher growth rates than in the
first two quarters of this year. Earnings before interest and tax
(EBIT) were up by 87.8 percent to EUR 33.0 mn, while the profit
before tax surged by 102.1 percent to EUR 29.7 mn, and the
consolidated net profit for the first three quarters of 2000 was EUR
20.0 mn compared with EUR 9.5 mn in the like period of the previous
year - a leap of 111.2 percent. Earnings per share were EUR 2.39. The
disproportionate gains in earnings relative to revenue, which have
now persisted for more than four successive quarters, were the
outcome of the increases in Palfinger's market shares in its main
markets, and of the impact of ongoing rationalization programmes in
the Company's procurement and production operations, as well as the
success of its after-sales organization.
In order to ensure that the Company remains on course with its
expansion strategy, investment in property, plant and equipment
almost doubled in the first three quarters of this year, as compared
with the same period of 1999. In the third quarter alone, EUR 7.4 mn
were invested, resultingin cumulative capital expenditure of EUR 12.9
mn for the January-September period, or a year-on-year increase of
87.6 percent. Management expects the fourth quarter to see a slight
upswing in business as compared to the third, accompanied by more
good earnings figures. As of 30 September order backlog stood at EUR
62.8 mn, compared with EUR 63.5 mn at the end of the first half of
2000 and EUR 48.2 mn at the end of the third quarter of 1999. A
continuation of the gratifying trends of the first three quarters
over the year as a whole is anticipated. Contact: Johannes Kikinger,
Palfinger AG, Financedirector phone +43-662-46 84, ext. 2274 
h.kikinger@palfinger.com www.palfinger.com
End
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