Pankl Racing Systems AG: Pankl Racing Systems AG 2015 Q1

Kapfenberg (pta008/04.05.2015/08:05 UTC+2) 2015 Q1
4 May 2015

Revenues nearly unchanged compared to last year
In Q1, F1 business returned to normal levels
Second best operating earnings in corporate history
Exceptionally good financial results due to EUR/USD exchange rate development
Record results after tax

in TEUR	Q1 2015	Q1 2014	VDG
Revenues	46.719*	46.802	-0,20%
EBITDA	8.174	8.951	-9%
EBIT	4.839	6.029	-20%
Earnings after tax	3.977	3.877	3%
EBITDA-Margin	17%	19%	-
EBIT-Margin	10%	13%	-
Earnings per share	1,18	1,13	4%
Book value per share	26,43	22,9	15%

In 2015 Q1, Pankl Group achieved revenues of Eur46.7m (2014Q1: Eur46.8m). The previous year benefitted both in terms of revenues and earnings from additional F1 demand due to the F1 rule change. This additional demand amounted to 15% of quarterly revenues.

In 2015 Q1, it was planned that the Racing/High Performance EBIT would not reach the record results of the previous year. The Aerospace Segment EBIT remained at about the same level as in the year before. In total, EBIT decreased by 20% from Eur6.0m or 13% of revenues in 2014Q1 to Eur4.8m or 10% of revenues in 2015 Q1.

Net profit after tax exceeded the record results of the previous year because of a for Pankl Group favourable development of the EUR/USD exchange rate and low interest rates. In 2015 Q1, net profit after tax increased by 3% to Eur3,977m.

Outlook
CEO Wolfgang Plasser: "In 2014 Q1, we benefitted from a major F1 rule change. In 2015 Q1, this led to a Eur6m revenues shortfall in motor racing, which was, however, compensated by an appropriate increase in high performance segment revenues. In the following quarters, the F1 rule change effect will fade out. Our financial results benefitted significantly from lower refinancing expenses and a favourable foreign exchange development. Hence, for the year as a whole, we expect good results."

The financial report for the first quarter of the fiscal year 2015 is available on the homepage of the company under http://www.pankl.com/fileadmin/user_upload/pankl_Q1_2015_E_WEB.pdf

For further information:
Investor Relations
Silke Pichler
Tel.: +43 3862 33 999 113
e-mail: ir@pankl.com
Internet: www.pankl.com

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