Pankl Racing Systems AG
Pankl Racing Systems AG: Results 2011 Q1-Q3
Pankl Racing Systems AG / Key word(s): Quarter Results 21.11.2011 08:00 Dissemination of an Ad hoc announcement, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Pankl Racing Systems AG - Results 2011 Q1-Q3 Kapfenberg, 21 November 2011 - In Q3, revenues and EBIT increased by about 20% - Q1-3 revenues increased by 16%, Q1-3 EBIT by 53% - Pankl Engine Systems, Inc. acquired a US-based crankshaft producerEUR k 2011 Q1-Q3 2010 Q1-Q3 CHG 2011 Q3 2010 Q3 CHG Revenues 79,088 68,128 16% 24,169 20,263 19% EBITDA 11,557 9,816 18% 2,709 2,647 2% EBIT 5,533 3,620 53% 685 569 20% EBITDA margin 15% 14% - 11% 13% - EBIT margin 7% 5% - 3% 3% -Pankl continued to show positive revenues and earnings developments - increase of 20% in Q3 The positive H1 business development continued into the quarter, which is traditionally a weak quarter in terms of revenues and earnings. In Q3, Pankl Group achieved revenues of EUR 24.2m, 19.3% more than in the same period last year (2010Q3: EUR 20.3m). In the first 9 months of the fiscal year 2011, revenues increased by 16.1% from EUR 68.1m to EUR 79.1m. Revenues grew in the racing companies due to intensified racing activities and a prolonged racing season and in the aerospace segment due to significantly improving demand from military customers. In 2011Q3, the consolidated operating result improved by 20.2% to EUR 0.7m or 2.8% of revenues. In the first 9 months of the fiscal year 2011, EBIT improved by 52.8% to EUR 5.5m or 7.0% of revenues (2010Q1-3: 5.3% of revenues). Segment Racing/High Performance In 2011Q3, Racing/High Performance Segment revenues increased by 21% from EUR 16.1m to EUR 19.5m. This significant revenues growth which was primarily achieved by the European engine and drivetrain components companies was mainly due to the favourable general economic environment in the automotive industry and resulting increases in motor racing budgets. In 2011Q1-3, revenues amounted to EUR 65.6m versus EUR 56.0m in the same period last year. The increasing revenues led also to an improvement in earnings. In 2011Q1-3, EBIT increased significantly from EUR 3.1m or 5.5% of revenues to EUR 4.8m or 7.3% of revenues. Segment Aerospace Business started to improve in our Austrian aerospace subsidiary after the US-based subsidiary has developed favourably already since the start of the year. In 2011Q1-3, revenues increased from EUR 12.3m to EUR 13.7m, EBIT amounted to EUR 0.8m or 5.7% of revenues versus EUR 0.5m or 4.0% of revenues in the same period last year. Outlook The first 9 months of the fiscal year 2011 were characterised by an exceptionally good general environment for the automotive industry which led to intensified motor racing activities of automotive suppliers. The deterioration of the general economic sentiment has not yet impacted our business. Based on current orders, we anticipate revenues growth of 15% in the fiscal year 2011. CEO Wolfgang Plasser: 'We would have a strong project pipeline for the next two years which would result in further significant growth potential. We do not, however, assume that our business continues to remain unaffected by the debt crisis. We still have to wait and see the extent of a potential slowdown and prepare ourselves for all potential scenarios.' The financial report for the first three quarters of the fiscal year 2011 is available on the homepage under http://www.pankl.com/Pankl-Racing.485.0.html. For further information: Brigitte Putz Investor Relations Tel.: +43 3862 33 999 317 e-mail: ir@pankl.com Internet: www.pankl.com 21.11.2011 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Pankl Racing Systems AG Industriestraße West 4 8605 Kapfenberg Austria Phone: +43 3862 33 999 -317 Fax: +43 3862 33 999 -810 E-mail: ir@pankl.com Internet: www.pankl.com ISIN: AT0000800800 WKN: 914732 Listed: Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart; Open Market in Frankfurt; Wien (Amtlicher Handel / Official Market) End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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