EANS-Adhoc: Palfinger AG / Results HY

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6-month report

11.08.2010

11.08.2010

PALFINGER back to recording growth in first half 2010

* Thanks to strong second quarter revenue 10.5 percent higher than in
first half 2009 * Significant plus in earnings reflects success of
measures taken * Further organic and inorganic growth expected

million EUR | HY1 2010 | % | HY1 2009 | HY1 2008
Revenue | 297.4 | 10.5% | 269.2 | 423.5
EBITDA | 23.9 | - | 5.1 | 69.2
EBIT | 13.5 | - | (5.9) | 59.3
EBIT margin | 4.5% | - | (2.2%) | 14.0%

Bergheim, Salzburg, 11 August 2010

The PALFINGER Group took advantage of the slight recovery of the
economy in the first half 2010. The positive market development was
first reflected in an increase in order intake and, in particular in
the second quarter, in a clear increase in revenues and earnings as
compared to the same period of the previous year and the previous
quarters. In comparison with the falling sales figures recorded in
2009, the Company thus experienced a clear trend reversal. The
measures that were implemented in 2009 in order to cut costs and make
the value-creation process even more flexible were another factor
contributing to the increase in EBIT margin.

At EUR 297.4 million, revenue in the first half 2010 is 10.5 percent
higher than in the first half 2009, when revenue was EUR 269.2
million. EBIT turned clearly positive again and came to EUR 13.5
million as compared to EUR - 5.9 million in the first half of the
previous year. This primarily reflects the success of the cost cuts
made while revenues were on the rise. On this basis, PALFINGER posted
a consolidated net result of EUR 7.3 million in the first half 2010.

A comparison of the second quarter with the first quarter 2010 shows
a marked increase in revenues of 29.8 percent (Q1: EUR 129.4 million;
Q2: EUR 168.0 million). EBIT was nearly tripled (Q1: EUR 3.4 million;
Q2: EUR 10.1 million) - a pleasing development that resulted in a
further improvement of the EBIT margin from 2.7 percent in the first
quarter 2010 to 6.0 percent in the second quarter 2010.

In the first half 2010 cash flows from operating activities already
came to EUR 23.4 million as compared to EUR 18.6 million reported in
the previous year. Free cash flow amounted to EUR 4.3 million,
underlining PALFINGER´s equity financing capability.

After order intake improved in the first months of 2010, pleasing
increases in revenues were posted in the second quarter as expected.
This was also due to the introduction of a new European crane
standard. The slight upward trend underlying this development is
expected to continue in the third quarter, even though the company
holidays in August will be reflected in lower revenues and earnings.

PALFINGER is still not in a position to make reliable forecasts for
the entire 2010 financial year as markets continue to be volatile.
However, management expects revenues to pick up in many product
sectors. On this basis an organic growth of Group revenue of around
15 percent is assumed.

end of ad-hoc-announcement ==========================================
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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

Tel.: +43 662 46 84-2260

h.roither@palfinger.com

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