Pankl Racing Systems AG: 1st quarter 2014

Kapfenberg, 12 May 2014 (pta005/12.05.2014/07:45 UTC+2) Pankl Racing Systems AG - 1st quarter 2014

- Record quarterly results in absolute terms
- Q1 revenues growth of 26%
- EBIT nearly doubled to Eur6.0m

in EURk	2014Q1	2013Q1	CHG
Revenues	46,802	37,048	26%
EBITDA	8,951	5,664	58%
EBIT	6,029	3,058	97%
Earnings after taxes	3,877	1,813	114%
EBITDA-margin	19%	15%	-
EBIT-margin	13%	8%	-
Earnings per share	1.13	0.53	113%
Book value per share	22.90	22.81	0%

In the first quarter of the fiscal year 2014, Pankl Group confirmed its growth projections with revenues increasing by 26% from Eur37.0m in 2013Q1 to record quarterly revenues of Eur46.8m. Also the quarterly earnings were the best in the Group's corporate history. This favourable development was mainly due to major increases in the order intake for engine and drivetrain components starting from 2013Q4 and resulting from the new F1 rules. The Aerospace Segment also developed positively. The additional production capacities which were created in the past 2 years enabled us to satisfy the strong increase in demand.
In 2014Q1, EBIT nearly doubled compared to the same period last year and amounted to Eur6.0m or 13% of revenues (2013Q1: Eur3.1m or 8% of revenues). These record quarterly earnings in absolute terms were mainly due to the revenues growth in the F1 business.

Racing/High Performance Segment
In 2014Q1, Racing/High Performance Segment revenues increased by 25.5% from Eur32.0m to Eur40.1m. This significant growth in revenues is mainly due to the new F1 rules. EBIT increased from Eur3.1m or 9.7% of revenues to Eur5.3m or 13.2% of revenues.

Aerospace
Aerospace Segment revenues increased from Eur5.1m by 30.4% to Eur6.7m. This major growth is due to an ongoing stable development of the European aerospace business and a strong recovery of the US aerospace subsidiary. EBIT increased from Eur0.1m or 1.9% of revenues to Eur0.4m or 6.0% of revenues.

Outlook
CEO Wolfgang Plasser: "In the first quarter of the fiscal year 2014, enormous demand for F1 components exceeded our own expectations. We expect a favourable business environment also in the coming quarters. For the year as a whole, we expect a 10% growth in revenues and a significant improvement in earnings compared to the previous year."

The interim report for the first of the quarter of the fiscal year 2014 is available on the homepage of the company under http://www.pankl.com/fileadmin/user_upload/pankl_Q1_2014_E_WEB.pdf

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

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