Pankl Racing Systems AG
Pankl Racing Systems AG: 2012H1
Pankl Racing Systems AG / Key word(s): Half Year Results 20.08.2012 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 - 2012H1 Kapfenberg, 20 August 2012 - Revenues +25%, EBIT +45% in 2012H1 - Excellent development of Austrian aerospace subsidiary - Capacity expansion at the Bruck upon Mur und Kapfenberg facilitiesEUR k 2012H1 2011H1 CHG 2012Q2 2011Q2 CHG Revenues 68,701 54,919 +25% 32,193 25,753 +25% EBITDA 11,626 8,847 +31% 4,950 3,269 +51% EBIT 7,022 4,848 +45% 2,573 1,306 +97% Earnings after tax 4,433 2,880 +54% 1,623 514 +216% EBITDA margin 17% 16% - 15% 13% - EBIT margin 10% 9% - 8% 5% -Positive development continues - Revenues +25%, EBIT +45% Pankl Group was able to improve all earnings indicators considerably compared to the same period last year. Revenues increased by 25% from EUR54.9m to EUR68.7m. Both segments (Racing/High Performance and Aerospace) contributed to this positive development. EBIT improved even by 45% from EUR4.8m or 9% of revenues to EUR7.0m or 10% of revenues. It should be noted that the Aerospace Segment quadrupled its EBIT versus the same period last year. Stable and sound Racing/High-Performance business In 2012H1, the Racing/High Performance Segment increased revenues by 25% from EUR46.1m to EUR57.7m. The year-on-year revenues increase in Q2 amounted to 23% versus a growth of 26% in the seasonally strong Q1. The improvement was hence relatively stable over the whole reporting period. This was mainly due to a consistently strong underlying business but also the first time consolidation of the crank shaft company Pankl Engine Systems Inc.. Despite expenses to integrate the crank shaft company, EBIT increased by 16% from EUR4.5m to EUR5.3m or 9% of revenues. Excellent development of Austrian aerospace subsidiary In the first half of the fiscal year 2012, the Aerospace Segment improved both revenues and earnings versus the same period last year. Revenues increased by 25% from EUR8.9m to EUR11.1m, which was mainly due to the excellent development of the Austrian aerospace subsidiary. European helicopter manufacturers approved a number of new components which led to a doubling of revenues in 2012H1 versus the same period last year. Business development of the US aerospace subsidiary continued to be stable with a marked improvement in profitability. EBIT increased from EUR0.3m or 4% of revenues to EUR1.3m or 11% of revenues. Outlook CEO Wolfgang Plasser: 'Despite the general gloom and doom we were able to achieve record growth and record results in the first half of the fiscal year. This is mainly due to many successful new projects we are engaged in in all business divisions. In the second half of the fiscal year we will bring online the new capacities we have been investing in. Further major customer projects will commence. We, hence, also expect significant growth and a positive earnings development in the second half of the fiscal year.' The financial report for the first half of the fiscal year 2012 is available on the homepage of the company 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 20.08.2012 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 -0 Fax: +43 3862 33 999 -181 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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