​​​​​​​PALFINGER recorded further growth in 2018 and is re-aligning its corporate structure - short Version

• Revenue rose by 9.8 per cent to EUR 1.6 billion
• Excellent increase of 15.4 per cent in operating profitability
• Higher dividend proposed
• PALFINGER is aligning its corporate structure with the goal of achieving higher profitability and future growth

1) These figures were normalized (n) by restructuring costs.

2) Figures were adjusted with retrospective effect (see the Annual Report, explanations on adjustments with retrospective effect, page 144).

3) Proposal to the Annual General Meeting.

4) Balance-sheet date figures of consolidated group companies excluding equity shareholdings and excluding contract workers.

Bergheim, 18 February 2019

Today, the Supervisory Board of PALFINGER AG adopted the Company’s financial statements. The press conference and the presentation on the 2018 financial year to investors and journalists will be held tomorrow, Tuesday, 19 February 2019, at 10.00 a.m. in Vienna. Please find below a short summary of the most important developments and results:

PALFINGER AG recorded two developments in 2018: First, PALFINGER continued its profitable growth. Revenue increased by 9.8 per cent to EUR 1.6 billion, a new record level in the Company’s history. Operating profitability grew at an even stronger rate than revenue. Second, after Andreas Klauser became the new CEO, the new GLOBAL PALFINGER ORGANIZATION (GPO) was prepared and implemented as of the beginning of 2019. This new organization is focused on value creation processes and creates internal synergies with the goal of increasing profitability. The new corporate structure is transforming the PALFINGER Group into an integrated group of enterprises, thereby laying the foundation for further profitable growth.

Earnings

EBITDAn (EBITDA normalized by restructuring costs) went up by 15.4 per cent, from EUR 186.0 million in the previous year to EUR 214.6 million, resulting in an EBITDAn margin of 13.3 per cent after 12.6 per cent in the same period of 2017. This increase was facilitated by the significant improvement in earnings reported by the LAND segment. Normalized EBIT (EBITn) went up from EUR 129.7 million to EUR 158.2 million, raising the EBITn margin to 9.8 per cent compared to 8.8 per cent in 2017. Even though the EBITn margin is still slightly below the target of 10 per cent, good progress has been made in terms of improving profitability. In the 2018 financial year, the consolidated net result came to EUR 58.0 million. A dividend of EUR 0.51 per share will be proposed for distribution.

Outlook

In the course of 2018, the PALFINGER Group again recorded an increase in incoming orders, which indicates that for the first quarters of the 2019 financial year business performance will continue to be satisfactory overall. The management thus foresees a further increase in revenue and profitability.

For more information and details, please visit our 2018 Integrated Annual Report online: i-report.palfinger.ag