EANS-Adhoc: Palfinger AG / HY1 2009

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05.08.2009

PALFINGER used the first half 2009 to further strengthen the Group

o Markets still weak in the first half 2009, but already stable
o Measures implemented at an early stage are becoming increasingly effective
o Continued market expansion in line with the Group's long-term strategy

|in million EUR |HY1 2009 |% |HY1 2008 |HY1 2007 |
|Revenue |269.2 |(36.4%) |423.5 |340.6 |
|EBITDA |4.9 |(92.9%) |69.2 |58.0 |
|EBIT |(5.9) |- |59.3 |53.1 |
|EBIT margin |(2.2%) |- |14.0% |15.0% |

Bergheim, Salzburg, 5 August 2009

The performance of the PALFINGER Group during the first half 2009 clearly
reflected the weak economy, especially in Europe, even though order intake
stabilised on this low level in recent months. Order intake in the US and Asia
is even slightly on the rise again.

Compared to the record results achieved in the first half 2008 the Group posted
a massive decline in revenues and earnings in the first half 2009. At EUR 269.2
million, revenue was 36.4 percent lower than the previous year's figure of
EUR 423.5 million. Despite this slump in revenue a positive EBITDA of EUR 4.9
million (Jan-June 2008: EUR 69.2 million) was achieved thanks to PALFINGER's
early cost-savings policies. However, at EUR - 5.9 million EBIT for the first
half 2009 was negative.

The first half 2009 was characterised by the implementation of additional
measures to reduce costs and by process optimisation projects. Utilisation of
the production capacities was supported by means of targeted insourcing and
manufacturing for third parties. Other priority issues included the reduction
of the capital employed and financing structure management.

The performance during the first two quarters 2009 clearly shows that the
measures taken have been effective, which has been increasingly reflected in
the results. While revenue in the second quarter 2009 amounted to EUR 128.8
million, which is EUR 11.6 million lower than the previous quarter's figure
(Q1: EUR 140.4 million), EBITDA went up to EUR 2.9 million (Q1:
EUR 2.0 million). EBIT in the second quarter 2009 was at EUR - 2.7 million (Q1:
EUR - 3.2 million).

The North American area has recently been strengthened considerably by
acquiring Automated Waste Equipment, Inc., a leading US producer of container
handling systems. With Palfinger Cranes India Pvt. Ltd., a company for the
Indian area, the Group took another consistent step in further pursuing its
strategic focus on the Asian market.

Management still sees various scenarios for the Group's future development in
2009. From today's point of view, in spite of declines in revenue of up to 40
percent, a clearly positive EBITDA is expected for the entire year 2009. While
performance is going to be slow in the third quarter 2009 due to the small
volume of orders on hand and the low level of output in connection with the
upcoming company holidays, PALFINGER is cautiously optimistic for the fourth
quarter.

The PALFINGER Group started off into this difficult year 2009 from a strong
market position. Moreover, PALFINGER has been taking advantage of the crisis
not only to seize market opportunities as they open up but also to implement
structural improvements, the results of which will become increasingly visible
over the course of this year. For all of these reasons, the Group's earnings
will benefit over-proportionally from any economic recovery.

Further inquiry note:
Hannes Roither, PALFINGER AG
Company Spokesperson
Phone +43 662 46 84-2260
[email protected]

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: [email protected]
WWW: www.palfinger.com
sector: Machine Manufacturing
ISIN: AT0000758305
indexes: ATX Prime, ATX
stockmarkets: official market: Wien
language: English

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