EANS-Adhoc: Palfinger AG / PALFINGER wraps up first half of 2011 with strong growth

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6-month report

10.08.2011

- Revenue increased by 39.3 per cent, EBIT more than doubled
- Second-quarter revenue the highest in PALFINGER´s history
- Increased flexibility a major factor of success

|EUR million |HY1 2011 | %| HY1 2010| HY1 2009|
|Revenue | 414.3| + 39.3%| 297.4| 269.2|
|EBITDA* | 50.1| + 101.4%| 24.9| 6.8|
|EBIT* | 36.0| + 147.4%| 14.5| (4.2)|
|EBIT margin | 8.7%| - | 4.9%| (1.6%)|

* incl. associated companies

Salzburg, 10 August 2011

In the first half of the financial year 2011 the PALFINGER Group
managed to continue the positive development recorded primarily
since the beginning of 2010. By comparison with the first half of
2010, huge growth in both revenue and earnings was achieved. The
economic growth continued to spur demand, on the one hand, and the
measures implemented in previous years took effect on the other.
By reducing costs and increasing flexibility, PALFINGER was preparing
to face volatile markets, which materially supports sustainable
and profitable growth both now and in the future.

At EUR 414.3 million, first-half revenue was 39.3 per cent above
the figure reported in the first half of 2010, when revenue was EUR
297.4 million. Around one third of this increase was due to
inorganic growth through acquisitions made in 2010. Organic growth
in revenue was generated largely in Europe, though a positive trend
was observed in all the regions.

In the first six months of 2011, EBIT (incl. associated companies)
came to EUR 36.0 million as compared to EUR 14.5 million in the
same period of 2010, equivalent to more than a doubling of the
earnings before interest and taxes. The consolidated net result
was more than tripled, rising from EUR 7.3 million in the first
half of 2010 to EUR 22.6 million in the period under review.

A comparison of performance over the individual quarters provides
convincing evidence of a continuous upward trend since the
beginning of 2010. In the second quarter of 2011, revenue came to
EUR 222.7, reaching the highest level in PALFINGER´s history.
The exceptionally large boost in EBIT including associated
companies, made an increase in EBIT margin to 9.4 per cent possible
in the second quarter of 2011.

Management´s outlook for 2011 is optimistic. However, the massive
growth rates achieved in the first half will slow down in the light
of the expected economic developments and the traditionally weaker
summer months. On the basis of the current economic environment,
it is estimated that organic revenue growth will be more than 20
per cent. In addition, the areas North and South America and the
business units Access Platforms and Hookloaders are expected to
make more substantial contributions to earnings.

Further inquiry note:
Hannes Roither, PALFINGER AG
Unternehmenssprecher
Tel.: +43 662 46 84-2260
mailto: h.roither@palfinger.com
www.palfinger.com

end of announcement euro adhoc
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issuer: Palfinger AG
F.-W.-Schererstraße 24
A-5020 Salzburg
phone: 0662/4684 2261
FAX: 0662/4684 2280
mail: c.rendl@palfinger.com
WWW: www.palfinger.com
sector: Machine Manufacturing
ISIN: AT0000758305
indexes: ATX Prime, Prime Market
stockmarkets: official market: Wien
language: English