Pankl Announces Strong Earnings Growth

IndustrialsAutomotive ♦ Published: March 19, 2012; 08:27 ♦ (Vindobona)

The Austrian automotive component supplier achieved a 17% growth rate in revenues. EBIT was up by 85%.

Pankl Announces Strong Earnings Growth / Picture: © Pankl

In the past fiscal year, the company achieved the second highest revenues in its corporate history. Consolidated EBIT improved by 85% to € 7.0m. This significant improvement was primarily due to the extension of the motor racing season and the favourable general economic environment in the automotive and aerospace industries.

Racing/High Performance Segment revenue increases…