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MiSSion Statement palfinger at a Glance > search Print Mission Statement PALFINGER stands for innovative lifting, loading and handling solutions. With our market know-how, our technological skills and the commitment of our staff, we enable our customers all over the world to be more succeSSful. Sustainable operations optimize products and proceSSes and significantly contribute to PALFINGER’s economic succeSS. Innovation is the result of our passion for the permanent enhancement of our products, processes and organization. Innovations ensure PALFINGER’s market leadership and open up new fields of application that broaden the base of the business. Internationalization ensures that our customers on all continents receive products that conform to market standards and provides our Company with maximum independence from regional economic fluctuations while simultaneously opening up new areas of potential growth. Flexibility allows us to meet all market developments by quickly adjusting our resources and capacities, thus also safeguarding the success of our business in times of high volatility. 8 palfinger Annual Report 2011
search Print Highlights of 2011 palfinger at a Glance Highlights of 2011 23 February 2011 Publication of the 2010 results PALFINGER recorded a distinct upward trend in 2010. The recovery of major sales markets together with the implementation of measures aimed at optimizing the organizational and cost structures enabled growth at all levels after a dramatic slump in 2009. Revenue grew by 29 per cent, and EBIT, at EUR 37.1 million, was clearly positive again in 2010, after being in negative territory by –EUR 3.0 million in 2009. In addition to the further expansion of the Group, in particular towards the future markets in the East, all measures for increasing flexibility were continued in 2011. The management was optimistic for 2011. 30 March 2011 Annual General Meeting The Annual General Meeting of PALFINGER AG resolved to distribute a dividend of EUR 0.22 per share due to earnings generated in 2010. Hubert Palfinger and Alexander Exner retired from the Supervisory Board, saying that a generation change was the reason for their retirement, and Hannes Palfinger and Heinrich Dieter Kiener were elected as new members to fill the vacancies. Alexander Doujak, whose term of office was about to expire, was re-elected as Chairman of the Supervisory Board. 10 May 2011 Publication of results for the first quarter of 2011 PALFINGER was still on a growth track. Thanks to the positive economic situation, revenue continued to go up in all areas. The huge further growth in EBIT reflected the effectiveness of internal measures taken. 10 August 2011 Publication of results for the first half of 2011 The PALFINGER Group again recorded significant growth. Previously weak business units also showed satisfactory performance and were increasingly contributing to the Group’s success. 26 August 2011 Acquisition of INMAN The sales structures that had been created in the CIS countries since 2009 were vastly expanded: After obtaining the approval of the Russian anti-trust authority, PALFINGER acquired the leading Russian crane producer INMAN. The company, with its staff of 415, was consolidated within the Group. Through this acquisition, PALFINGER took a huge step towards expanding the CIS area with a locally recognized product and local added value. 3 November 2011 Extraordinary General Meeting In view of the planned further growth of the PALFINGER Group, an Extraordinary General Meeting passed resolutions aimed at increasing flexibility in funding also large-scale projects: The Management Board was authorized to acquire own shares of up to 10 per cent. A resolution on a new authorized capital of EUR 10 million included the option of issuing a maximum of 10 million new shares. 10 November 2011 Publication of results for the first three quarters of 2011 PALFINGER continued to record growth, even though economic prospects became gloomier, especially in Europe. Russia and the markets in Asia, however, continued their steep growth, confirming the Company’s internationalization strategy. It was clear that for PALFINGER, even in a worst-case scenario, the flexibility gained would prevent a new crisis from reaching the dimensions of 2009. 1 December 2011 Start of a share buyback programme PALFINGER started a share buyback programme, under the scope of which a maximum of 3,245,000 own shares could be acquired. The buyback volume was limited for the time being to EUR 10 million; the programme was set to run until 2 May 2014 at the latest. palfinger Annual Report 2011 9
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