Pankl Racing Systems AG
Ansprechpartner: IR
Tel.: +43(0)3862 33 999-815


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Pankl Racing Systems AG: Preliminary Full Year Results 2016

Kapfenberg (pta/27.01.2017/07:50 UTC+1) 27 January 2017

- Record earnings and revenues
- Revenues increased by 7% to Eur186.0m
- EBIT of Eur13.2m represents best EBIT in our corporate history
- F1 rule changes had positive impact
- Aerospace business stabilised

Eur k20162015VDG
Earnings after tax9,9857,93126%
EBITDA margin14%14%-
EBIT margin7%6%-
Earnings per share (in Eur)Mrz 22Feb 4333%

Pankl Group managed to close the fiscal year 2016 with record earnings due to very strong Q4 results. Revenues increased by 7% from Eur173.6m to Eur186.0m. Operating earnings (EBIT) increased overproportionally by 29% from Eur10.2m to Eur13.2m. The EBIT margin amounted to 7% (2015: 6%). After the deduction of the net financial result and corporation tax, net earnings amounted to Eur10.0m (2015: Eur7.9m). Earnings per share increased from Eur2.43 to Eur3.22. The book value per share decreased by 3% from Eur26.30 to Eur25.47 due to the increase of our stake in CP-Carrillo from 70% to 100%. Shareholders' equity represented 41% of total assets.

Racing/High Performance
In the motor racing division, Pankl Group benefitted from F1 rule changes for the 2017 racing season primarily in the 4th quarter of the fiscal year 2016. The High Performance business showed a stable development. In 2016, Racing/High Performance revenues increased by 9% from Eur148.7m to Eur161.5m. Operating earnings (EBIT) increased significantly from Eur8.3m or 5.6% of revenues to Eur12.0m or 7.4% of revenues. This was due to a more favourable product mix and productivity improvements.

The fiscal year 2016 was characterised by a difficult market environment in the helicopter business. We did, however, manage to stabilise the Aerospace Segment. In 2016, revenues decreased slightly from Eur25.6m to Eur25.5m. Operating earnings (EBIT) also decreased slightly from Eur1.3m or 5.1% of revenues to Eur1.1m or 4.4% of revenues.

CEO Wolfgang Plasser "In the first half of the year we were confronted with a rather subdued market environment. Over the course of the year market conditions in both motor racing and aerospace improved gradually. We are very pleased that in many areas we were able to implement significant productivity improvements, which together with increasing market demand led to overproportional earnings growth. At the start of the 2017 fiscal year, our order books were above the levels at the same time last year. Of major importance in this fiscal year will be the start of production at our new Kapfenberg High Performance drivetrain production facility, which represents by far the largest capital expenditure project in our corporate history so far."

The financial report for the fiscal year 2016 will be available on our website from 21 March 2017 under the link:


Emitter: Pankl Racing Systems AG
Industriestraße West 4
8605 Kapfenberg
Contact Person: IR
Phone: +43(0)3862 33 999-815
ISIN(s): AT0000800800 (Share)
Stock Exchange(s): Vienna Stock Exchange (Official Trade); Free Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Munich, Stuttgart