EANS-Adhoc: PALFINGER reports continued growth in the third quarter of 2011

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9-month report

10.11.2011

- Revenue increased by 34 per cent in the first three quarters of
2011, EBIT more than doubled - Uncertainty noticeable in Europe,
but stability at a good level in young markets - Flexibility and
internationalization are to guarantee further growth - Outlook for
2011 remains unchanged

|in million EUR |Q1-Q3 2011 | % |Q1-Q3 2010 |Q1-Q3 2009 |
|Revenue | 624.0 | + 34.2% | 464.9 | 387.9 |
|EBITDA* | 73.5 | + 82.3% | 40.3 | 12.3 |
|EBIT* | 52.4 | + 121.6% | 23.7 | (3.9) |
|EBIT margin | 8.4% | - | 5.1% | (1.0%) |

* incl. associated companies

Salzburg, 10 November 2011

The performance of the PALFINGER Group over the first three
quarters of 2011 was extremely satisfactory. Despite the new
bouts of uncertainty over the further economic development of
Europe, PALFINGER was able to achieve significant organic
growth as compared with 2010.

On the one hand, economic growth spurred demand in the period
under review, while, on the other hand, the measures implemented
in previous years took effect. By reducing costs and increasing
flexibility, PALFINGER has prepared itself to face volatile
markets, which materially supports sustainable and profitable
growth both now and in the future.

At EUR 624.0 million, the revenue generated in the first three
quarters of 2011 was 34.2 per cent above the figure reported
for 2010, when revenue was EUR 464.9 million. EBIT (incl.
associated companies) came to EUR 52.4 million as compared to
EUR 23.7 million in the same period of 2010, corresponding to

more than a doubling of the earnings before interest and taxes. The
consolidated net result for the period almost tripled, rising from
EUR 11.7 million in the first three quarters of 2010 to EUR 32.7 million in the
period under review.

The positive development continued over the individual quarters of 2011. In the
third quarter, the company holiday at the European sites has to be taken into

account which is reflected primarily in the quarterly earnings.
Nevertheless, revenue (Q1: EUR 191.6 million; Q2: EUR 222.7 million;
Q3: EUR 209.7 million) and EBIT (Q1: EUR 15.1 million; Q2: EUR
20.9 million; Q3: EUR 16.5 million) were again higher than in the
first quarter.

In the third quarter of 2011, revenue amounted to EUR 209.7 million,
which is 25.2 per cent higher than in the same period of
2010, when revenue was EUR 167.5 million. EBIT rose from EUR 9.1
million in the third quarter of 2010 to EUR 16.5 million,
corresponding to an 81.4 per cent increase.

On the whole, the Group´s performance in Europe was highly
satisfactory. While revenue in numerous markets significantly
increased compared to the previous year, some weak markets
continued to show a modest performance. Growing financial
uncertainty over the third quarter was reflected in a lower
order intake in recent months, particularly in Europe.

The markets outside Europe have been characterized by growth and/or
stability at a satisfactory level. With approximately 3 per cent,
the markets in Asia currently still only account for a small
share of PALFINGER´s business. However, the sharp increase in
revenue generated in the region demonstrates that these markets
are gaining in importance. With production sites in China, Vietnam
and - since the end of 2010 - also in India, PALFINGER is well
prepared for further growth.

The current developments in the financial markets in Europe are
likely to have an impact on the real economy as well and thus also
on the markets that are of relevance for PALFINGER. Nevertheless,
PALFINGER is confident that a decline in performance will not reach
the same dimensions as in 2008: The optimized cost structure,
enhanced processes and above all the reduction of inventories at all
value-creation stages - from suppliers to dealers - enables
PALFINGER to flexibly respond to changes in market demand.

Against this backdrop, the management expects the defined target of
20 per cent organic growth to be achieved in 2011. In addition, the
areas North and South America and the business units Access
Platforms and Hookloaders are expected to make even 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