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Palfinger suffered losses during its 2009 financial year but remains positive following restructuring measures and investments.

Revenue at the Austrian loader crane manufacturer was €505 million (US$712 million) for the period, a 36% drop on the previous year. "Without taking into account inorganic growth generated through acquisitions, revenue would have gone down by about 45%, thus reflecting the weak economy more clearly," said a company spokesman.

In contrast, operating loss was €5 million ($7 million) in 2009, a direct result of cost cutting measures early in the year. Earnings before interest, taxes, depreciation, and amortization (EBITDA) remained positive throughout the year, amounting to €16 million ($22.5 million), added the company.

Palfinger's management board will now make a proposal not to distribute a dividend for the 2009 financial year due to the loss incurred. In 2008 the dividend was €0.39.

Read the whole story at http://www.khl.com

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