Pankl Racing Systems AG
Pankl Racing Systems AG: Figures for the Fiscal Year 2011
Pankl Racing Systems AG / Key word(s): Final Results 19.03.2012 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 - Figures for the Fiscal Year 2011 Kapfenberg, 19 March 2012 - Revenues grew by 17% to EUR 105.4m - EBIT increased over proportional by 85% to EUR 7.0 m - Earnings after tax up by 52% to EUR 4.5m - Dividend proposal: EUR 0.40 per shareEUR k 2011 2010 CHG Revenues 105,396 89,750 17% EBITDA 15,226 12,066 26% EBIT 7,023 3,798 85% Earnings before tax 5,587 2,598 115% Earnings after tax 4,460 2,943 52% EBITDA-margin 14% 13% - EBIT-margin 7% 4% - Earnings per share 1.23 EUR 0.78 EUR 58%Revenues +17%, EBIT +85% In the past fiscal year, we achieved the second highest revenues in our corporate history. Consolidated EBIT improved by 85% to EUR 7.0m. This significant improvement was primarily due to the extension of the motor racing season and the favourable general economic environment in the automotive and aerospace industries. Racing/High Performance Segment Racing/High Performance Segment revenue increases were primarily due to the favourable economic environment in the automotive industry leading to higher motor racing budgets. Many OEMs intensified existing motor racing activities and also started new projects benefitting primarily our European engine and drivetrain systems companies. In the fiscal year, segment revenues amounted to EUR 87.1m (2010: EUR 74.1m), EBIT came in at EUR 5.9m or 7% of revenues (2010: EUR 3.6m or 5% of revenues). Aerospace Segment Our US aerospace subsidiary experienced already from the start of the fiscal year a significant increase in business and also substantial productivity improvements. It took our Austrian aerospace subsidiary until the second half of the year to achieve revenue growth. In total, the Aerospace Segment generated revenues of EUR 18.5m (2010: EUR 16.0m) and EBIT of EUR 1.3m or 7% of revenues (2010: EUR 0.3m or 2% of revenues). Dividend Proposal The management board intends to propose the resumption of dividend payments amounting to 30% of consolidated profits due to the favourable economic situation. The net profit attributable to the shareholders amounted to EUR 4,044k for the fiscal year. This profit divided by 3,150,000 shares with dividend rights gives EUR0.39 per share. The management board will propose to pay a dividend of EUR0.40 per share. Outlook CEO Wolfgang Plasser: 'Pankl's fiscal year 2011 developed unexpectedly well. Despite negative general economic sentiment business improved quarter after quarter. Our order book gives us reason to be optimistic for 2012. We expect revenues growth of about 10%. Capacities in all our production facilities are already very well utilised. Additional large contracts commencing in the autumn require us to implement a record capital expenditure programme amounting to EUR 16m. In the past 3 fiscal years we managed to cope with below average capex programmes.' The financial year report and the annual report 2011 are available on our website under the link http://www.pankl.com/Financial-Statements.485.0.html. For further information: Investor Relations Brigitte Putz Tel.: +43 3862 33 999 317 e-mail: ir@pankl.com Internet: www.pankl.com 19.03.2012 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 -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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