Pankl Racing Systems AG: 1st quarter 2012

Pankl Racing Systems AG  / Key word(s): Quarter Results

30.04.2012 07:55

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Pankl Racing Systems AG - 1st quarter 2012
Kapfenberg, 30 April 2012

  - Best quarterly revenues and earnings of our corporate history
  - Preparation of large projects well underway
  - Excellent development in European aerospace business


EUR k                                      2012Q1        2011Q1      CHG
Revenues                                   36,508        29,166      25%
EBITDA                                      6,676         5,578      20%
EBIT                                        4,449         3,542      26%
Earnings after tax                          2,810         2,366      19%
EBITDA margin                                 18%           19%        -
EBIT margin                                   12%           12%        -
Earnings per share                           0.87          0.65      34%
Book value per share                        19.00         18.70       2%




Positive development continues - Revenues +25%, EBIT +26%
In the first quarter of the current fiscal year, Pankl Racing Systems AG
continued to show an impressive positive development with revenues growing
by 25% and EBIT by 26%. Revenues of EUR 36.5m and EBIT of 4.4m represent
the best quarterly results since the company's foundation in 1985. The
Racing/High Performance segment (+26%) as well as the Aerospace Segment
(+18%) showed significant revenues growth.
In our seasonally strong quarter, operating earnings developed in
accordance with the high capacity utilisation very favourably. EBIT
amounted to EUR 4.4m (2011Q1: EUR 3.5m) or 12.2% of revenues.

Very favourable development in motor racing and preparations for large
projects in the high performance division
Q1 is traditionally a seasonally strong quarter for the motor racing
business. The Racing/High Performance Segment normally achieves the highest
quarterly revenues in Q1. Revenues increased by 26% from EUR 24.7m to EUR
31.2m. All subsidiaries showed a positive revenues development in Q1.
Intensified motor racing activities and comprehensive development projects
driven by new technology generations in some racing categories are
favourable for profitability in this segment. In the high performance
division, substantial preparation work for large OEM projects caused
expenses which burdened the segment results. In Q1, segment EBIT amounted
to EUR 3.7m or 12.0% of revenues (2011Q1: 3.3m).

Excellent order book in civil helicopter division
In the first quarter of the current fiscal year, the Aerospace Segment
showed an exceptional development both in terms of revenues and earnings.
Revenues increased by 18% from EUR 4.6m to EUR 5.4m, EBIT improved over
proportionally from EUR 0.1m to EUR 0.5m. The US aerospace subsidiary
continued to show a very stable development. The European aerospace
subsidiary showed a significant improvement with the validation of new
components leading to an increase in revenues. Excellent order books
suggest a sustainable continuation of the positive development in the
Aerospace Segment.

Outlook
CEO Wolfgang Plasser: 'We expect a continuation of the positive
developments for some time to come as we see full project pipelines in all
business divisions and have received major new long term orders.
Substantial capex programmes in Bruck and Kapfenberg provide the capacities
and technological base for our foreseeable further growth.'

The 2011Q1 financial report is available on
http://www.pankl.com/Financial-Statements.485.0.html from 14 May 2012.

For further information:
Investor Relations
Brigitte Putz
Tel.: +43 3862 33 999 317
e-mail: ir@pankl.com
Internet: www.pankl.com


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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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