EANS-Adhoc: PALFINGER achieved further growth in the first half of 2016

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Mid Year Results/6-month report
27.07.2016

- Revenue grew by 9.8 per cent to EUR 665.6 million
- Extraordinarily strong increase in EBIT to EUR 64.9 million
- Largest acquisition in PALFINGER's history doubles marine business

___________________________________________________________________________
|______________________________________| HY1 2014*| HY1 2015*|HY1 2016| %|
|Revenue(EUR million)__________________| 531.2| 606.2| 665.6| 9.8%|
|EBIT(EUR million)_____________________| 41.2| 53.5| 64.9|21.4%|
|EBIT margin in %______________________| 7.8%| 8.8%| 9.8%| -|
|Consolidated net result for the period| 24.5| 34.5| 39.7|15.2%|
|(EUR million)_________________________| | | | |
|Human resources**_____________________| 7,273| 8,765| 8,944| 2.0%|
___________________________________________________________________________

* Figures were adjusted with retrospective effect (see 2015 Annual Report
pp. 146-149).
** Consolidated Group companies excluding equity shareholdings as well as
excluding temporary workers.

Bergheim, 27 July 2016

Compared to the previous year, the PALFINGER Group's revenue in the first half

of 2016 rose by 9.8 per cent, coming to EUR 665.6 million as compared
to EUR 606.2 million in the same period of 2015, thus achieving a new
record for a half-year result. The EBIT of the PALFINGER Group showed
an extraordinarily strong increase of 21.4 per cent from EUR 53.5
million to EUR 64.9 million. The consolidated net result for the
first half of 2016 was EUR 39.7 million, 15.2 per cent higher than
the previous year's figure of EUR 34.5 million. At 13.4 per cent, the
increase in revenue in the EUROPEAN UNITS segment was higher than
that in the AREA UNITS segment of 2.1 per cent. As a consequence, the
portion of the Group's revenue contributed by the EUROPEAN UNITS
segment increased to 70.6 per cent (HY1 2015: 68.3 per cent).

In the first half of 2016, the EUROPEAN UNITS segment saw a
year-on-year increase in revenue of 13.4 per cent from EUR 414.3
million to EUR 469.7 million (Q2 2015: EUR 213.6 million; Q2 2016:
EUR 243.1 million). The segment's EBIT for the first half of 2016
grew by 38.5 per cent to EUR 73.6 million, as compared to EUR 53.1
million for the first half of 2015 (Q2 2015: EUR 26.9 million; Q2
2016: EUR 39.6 million). This outstanding improvement was made
possible by the contributions of all European units as well as a
favourable product mix. As a consequence, the segment's EBIT margin
rose from 12.8 per cent to 15.7 per cent in the reporting period.

Following the pleasing growth achieved in the previous year, revenue
of the AREA UNITS segment once again increased slightly in the first
half of 2016. After EUR 191.9 million in the same period of the
previous year, revenue in the reporting period came to EUR 195.9
million (Q2 2015: EUR 100.2 million; Q2 2016: EUR 103.7 million). The
segment's EBIT, however, shrank from EUR 7.7 million to EUR 0.9
million (Q2 2015: EUR 6.3 million; Q2 2016: EUR 0.4 million). This
was caused primarily by the necessary reorganization in the large
North American market, the continued market turbulences in Brazil and
lower earnings in Asia. The segment's EBIT margin decreased from 4.0
per cent to 0.4 per cent in the first half of 2016.

The acquisition of the Harding Group and the planned takeover of the
TTS Group in the marine sector are milestones in the growth history
of the PALFINGER Group, resulting in a significant expansion of the
business.

For the 2016 financial year, without taking into account the
acquisitions made and planned, the management expects organic revenue
growth, and an increase in earnings when adjusted for integration and
reorganization expenses.

PALFINGER still sees the potential to increase the annual revenue
generated by the Group, including the joint venture companies in
China and Russia, to approx. EUR 1.8 billion by 2017. In connection
with the large acquisitions carried out in the marine sector,
PALFINGER has come a step closer to this goal.

The Interim Report for The First Half of 2016 is available for
download at www.palfinger.ag/en/newsroom/financial-reports.

Both text and pictures are available for download in the press corner
of our website at www.palfinger.com.

Further inquiry note:
Hannes Roither, PALFINGER AG
Company spokesperson
Tel. +43 662 2281-81100
h.roither@palfinger.com

Both text and pictures are available for download in the press corner of our
website at www.palfinger.com.

end of announcement euro adhoc
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issuer: Palfinger AG
Lamprechtshausener Bundesstraße 8
A-5020 Salzburg
phone: 0662/2281-81101
FAX: 0662/2281-81070
mail: ir@palfinger.com
WWW: www.palfinger.ag
sector: Machine Manufacturing
ISIN: AT0000758305
indexes: Prime Market
stockmarkets: official market: Wien
language: English