euro adhoc: Pankl Racing Systems AG (english)

Bruck/Mur, 25.05.2004 - Disclosure announcement transmitted by euro adhoc.The issuer is responsible for the content of this announcement.

Bruck/Mur, 25.05.2004 - Disclosure announcement transmitted by euro adhoc.The issuer is responsible for the content of this announcement.

Pankl Racing Systems AG Pankl achieves operative profit in the firsthalf year 2004

Sales increase of 5.5 percent in the firsthalf yearEBIT with EUR 0.3 million even after R&D expenditures positive againTurnaround after only 9 months^ QII 2003 QII2004 HY I 2003 HY I 2004Net sales TEUR 19.373 20.274 33.969 35.847EBIT before R&D TEUR 1.843 2.035 3.307 3.041EBIT before R&D % 9,5 10 9,7 8,5R&D project expensesTEUR 815 1.212 1.488 2.711EBIT after R&D TEUR 1.028 823 1.819 330EBIT after R&D % 5,3 4,1 5,4 0,9Financial result TEUR-228-315-135-402Net income TEUR 569 305 1.197-270Result per share EUR 0,15 0,08 0,31-0,07°Bruck a. d. Mur, 25 May 2004. In the first half year 2004 with salesof EUR 35,85 million, i.e. a growth of 5,5 percent compared to theperiod of last year (EUR 33,97 million), Pankl Racing Systems AGbroke even again in the second quarter. The sales growth of PanklRacing Systems AG in the first half year 2004 in the first placeresults from an increasing demand for pistons in the USA. BesidesFormula I there is also an increasing demand for Pankl transmissionand engine systems in the field of touring car racing series likeDTM, the rallye-series and particularly within American racing serieslike NASCAR. With EUR 30,34 million the racing segment contributes 84percent to the half year result.

Positive operating result (EBIT) in the first half year 2004Thus the red could be left again within only nine months. With apositive operating result (EBIT) of EUR 0,8 million, after EUR-0,5million in the first quarter 2004, the result of the second quarter2004 in particular contributed to this. The company achieved thisclear result improvement despite persistently high R&D projectexpenditures amounting to EUR 2,7 million in the first half year 2004(last year's period: EUR 1,5 million). With just 1 percent in thereporting period (01/10/2003 - 31/03/2004) the EBIT margin after R&Dexpenditures certainly has a potential for increase. Before takinginto account the costs for defined development projects, which areworked on besides the current development work of the company, Panklreaches a margin of 8.5 percent in the first half year 2004. Pankl isexpecting R&D expenditures of altogether maximally EUR 5.4 millionfor this business year. Due to lower financial earnings the financialresult developed a little more weakly in the second quarter of 2004compared to last year (QII 2004: TEUR-315 TEUR to QII 2003: TEUR-228). In the first half year of the current business year the resultper share is EUR - 0.07.

Outlook:With the end of the last business year 2003 the management of PanklRacing Systems AG announced an overall sales growth between 5 and 10percent for the business year 2004. Under the motto Back to Profit afurther improvement of the result situation is being planned. Bothstatements can be fully confirmed at the half-time of the businessyear 2004.

You can find the report on the first half year on our IR-portalunder:

Further inquiry note:Head of Investor Relations & Corporate Communications, HeidrunSölkner, Tel.: 0043 3862 33 999 114; mail:;; IR-Portal: www.pankl-ir.comTel: 03862 33 999-114FAX: 03862 33 999-181Email:

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WKN: 914732ISIN: AT0000800800Marktsegment: Prime Standard, official dealing FrankfurterWertpapierbörse, Nasdaq Europe

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