PALFINGER achieved new record levels of revenue and earnings due to strong demand from Europe

• Revenue grew by 9.1 per cent to EUR 318.8 million
• EBIT showed extraordinarily strong increase of 28.6 per cent to EUR 30.2 million
• Consolidated net result rose by 29.0 per cent to EUR 18.6 million
• Outlook still marked by growth

1) Figures were adjusted with retrospective effect.
2) Consolidated group companies excluding equity shareholdings as well as excluding temporary workers.

Performance of the PALFINGER Group

In the first quarter of 2016, the performance of the PALFINGER Group was marked by revenue growth and an extraordinarily strong increase in earnings. Revenue rose by 9.1 per cent to EUR 318.8 million (Q1 2015: EUR 292.3 million), setting a new record for a first-quarter result. EBIT showed an extraordinarily strong increase of 28.6 per cent from EUR 23.5 million to EUR 30.2 million, which is a new record as well. This, in turn, generated a marked increase in the EBIT margin, which came to 9.5 per cent, as compared to 8.0 per cent in the first quarter of the previous year. The consolidated net result for the first quarter of 2016 was EUR 18.6 million, 29.0 per cent higher than the previous year’s figure. Earnings per share came to EUR 0.50, as compared to EUR 0.39 in the previous year.

Outlook
The present level of incoming orders gives reason to expect further positive developments in the second quarter of 2016. In Europe, visibility is still low but has stabilized in recent months. However, estimating the further development of the market regions outside Europe has become somewhat more difficult.

The management continues to expect a growth in revenue of approx. 10 per cent for 2016. 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 and intends to reach this goal through acquisitions and by completing its product portfolio in the market regions outside Europe.