EANS-Adhoc: Palfinger AG / Preliminary results 2009

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Company Information

25.01.2010

Preliminary results 2009:

PALFINGER Group back to positive results in the fourth quarter 2009,
outlook for 2010 optimistic

° Continuation of adverse economic environment led to slump in
revenue by 36 percent ° Measures taken proved increasingly
effective in the course of 2009 ° Earnings negative in 2009,
therefore no distribution of dividends planned ° New PALFINGER
organisational structure effective from 2010 onwards

|in million EUR |2009e |% |2008 |2007 |
| | | | | |
|Revenue |505 |(36%) |794.8 |695.6 |
|EBITDA |16 |(84%) |97.8 |115.3 |
|EBIT |(5) |- |69.1 |99.6 |
|EBIT margin |(1.0%) |- |8.7% |14.3% |

2009 proved to be a troublesome year for the PALFINGER Group.
The global economic meltdown was curbed in spring, however, the
related market decline was significant and it was doubtful whether
the bottoming out of the markets would be sustainable. The CRANES
segment was hit particularly hard, whereas the pronounced drop
in revenue recorded in the HYDRAULIC SYSTEMS & SERVICES segment was
not felt before the second half 2009. Revenue came to EUR 505
million, which is 36 percent below the previous year´s figure of
EUR 794.8 million. Not taking into account inorganic growth
generated through acquisitions, revenue would have gone down by
approximately 45 percent, thus reflecting the weak economy more
clearly. Due to the cost-cutting measures that were taken early on,
the Company recorded an operating loss of only EUR 5 million in
2009. EBITDA remained positive throughout the year and amounted to
EUR 16 million in 2009. However, the development of EBIT clearly
reflects the measures that were implemented quickly and
efficiently: after having fallen to EUR - 3.2 million in the first
quarter 2009, EBIT continuously picked up. While revenue hit rock
bottom in the fourth quarter 2009, EBIT reached a slightly positive
level once again. The Management Board will make a proposal not to
distribute a dividend for the 2009 financial year (previous year:
EUR 0.39) due to the loss incurred. The PALFINGER organisational
structure was revised in line with the strong growth recorded
in previous years and the challenges expected in the years to
come. In doing so, a stronger focus has been placed on the
international character of the Group. Thus the areas and product
units will become more independent in the future and be better
suited to meet the various local requirements of the respective
markets. External segment reporting will thus be adjusted from the
first quarter 2010 onwards. Starting then it will be broken down
according to region and the strategic future-oriented projects
of VENTURES. Management has worked out several different scenarios
for 2010. From today´s point of view revenues are likely to go up
again. The strength of the PALFINGER Group as well as the measures
that are becoming increasingly effective are expected to have
a continuously positive effect on earnings. PALFINGER´s
unbroken presence as a global player will further consolidate
its market position.

The above-mentioned figures are indications from a projected
calculation based on IFRS. The final results will be published on
24 February 2010.

end of announcement euro adhoc
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ots Originaltext: Palfinger Holding AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Hannes Roither, PALFINGER AG

Company spokesperson

Phone +43 662 46 84-2260

h.roither@palfinger.com

Branche: Machine Manufacturing
ISIN: AT0000758305
WKN: 919964
Index: ATX, Prime Market
Börsen: Wien / official market