euro adhoc: Palfinger AG / Annual Reports / PALFINGER showed its strengths in the first three quarters 2008 (E)

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06.11.2008

• Revenue increased by 20.3 percent, in particular through acquisitions
• 2.3-percent growth in EBIT reflects current developments
• Double-digit revenue growth and margin above 10 percent expected for the
2008 financial year, but lower EBIT as compared to the previous
year

in million EUR   Q1-Q3 2008           %   Q1-Q3 2007   Q1-Q3 2006
Revenue               607.2     + 20.3%        504.6        437.2
EBITDA                 90.3      + 7.5%         84.0         69.1
EBIT                   75.1      + 2.3%         73.3         59.3
EBIT margin           12.4%           -        14.5%        13.6%

Bergheim, Salzburg, 6 November 2008

In the increasingly depressed economic climate the PALFINGER Group continued to
record double-digit growth in revenue in the first three quarters 2008. However,
growth rates no longer matched those achieved in previous periods. Revenue for
the first three quarters 2008 came to EUR 607.2 million, corresponding to an
increase of 20.3 percent as compared to the previous year´s figure of EUR 504.6
million. EBIT for the past nine months amounted to EUR 75.1 million, which is
only 2.3 percent above the comparative value of EUR 73.3 million.

The growth in revenues reflected the strong crane business in the first half
2008, which was to a large part also due to the backlog of orders from the
previous year and the inorganic growth achieved through acquisitions in the
course of 2008.

At 12.4 percent the EBIT margin is still at a pleasingly high level but clearly
below the 14.5-percent figure of the reporting period 2007. This decline was
caused both by acquisitions - due to accounting rules for initial consolidations
and the shift in volumes towards hydraulic systems, which generate lower margins
- and changes in the markets in view of the expected recession.

Outlook
Management still expects double-digit revenue growth throughout 2008 thanks
primarily to acquisitions. In the crane business it is expected that the results
will fall short of the ones for 2007. The development of the HYDRAULIC SYSTEMS &
SERVICES segment should lead to positive earnings.

Expectations still are for the consolidated EBIT margin to remain in the
double-digit range. However, Management assumes that the results of the
PALFINGER Group for 2008 will fall below those of the previous year. The
assessment of market scenarios that will be encountered is going to be of vital
importance as regards the upcoming impairment tests which may also have an
impact on earnings.

Despite the marked slowdown of the business environment PALFINGER has still
identified numerous opportunities for the next months and the year 2009. Its
sound capital basis has established PALFINGER as a successful business partner
in the long term and provides for an active participation in the consolidation
process. Therefore the PALFINGER Group should be able to strengthen or expand
its leading market position.

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

end of announcement euro adhoc
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emitter: Palfinger AG
F.W.Schererstraße 24
A-5101 Bergheim
phone: 0662/4684 2275
FAX: 0662/4684 109
mail: a.graf@palfinger.com
WWW: www.palfinger.com
sector: Machine Manufacturing
ISIN: AT0000758305
indexes: ATX Prime, ATX
stockmarkets: official market: Wiener Börse AG
language: English

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