IFCO Systems
FRANKFURT : IFE1

IFCO Systems

November 10, 2005 09:34 ET

IFCO Systems Continues on Revenue and Profitability Growth Path in Q3 2005

HOUSTON--(CCNMatthews - Nov 10, 2005) -

Due to strong business development in both key segments, IFCO Systems significantly improved its Q3 2005 results over Q3 2004. In particular, the Pallet-Management-Services business segment experienced very strong market demand for its services and contributed overproportionally to IFCO Systems' overall operating gains.

-- Q3 2005 revenues grew by 21.9% to US $143.5 million (YTD 2005, 21.6% to US $417.9 million).

-- Q3 2005 EBITDA improved by 24.4% to US $24.3 million (YTD 2005, 29.6% to US $66.2 million).

-- Q3 2005 EBIT grew by 37.2% to US $17.7 million (YTD 2005, 53.6% to US $44.4 million).

-- Q3 2005 net profit increased by 22.6% to US $10.6 million (YTD 2005, (12.9%) to US $20.6 million).

IFCO Systems' Q3 2005 operating profit grew over Q3 2004 principally as a result of a significant topline growth and a steady operating cost structure. Additionally, operating cash flows from continuing operations increased in Q3 2005 by 70.8% over Q3 2004 to US $45.0 million. The company increased its investments in RPCs to cope with increased demand.

ROCE (Return On Capital Employed) from continuing operations improved to 23.5% as of September 30, 2005, as compared to 20.4% as of December 31, 2004.



(US $ in thousands,
except per share
amounts) Q3 2004 Q3 2005 Change YTD 2004 YTD 2005 Change
------------------------ -------------------------

Revenues 117,723 143,500 21.9% 343,621 417,875 21.6%
Gross profit 25,811 29,163 13.0% 61,251 81,170 32.5%
Gross profit margin 21.9% 20.3% 17.8% 19.4%
EBITDA 19,538 24,296 24.4% 51,093 66,220 29.6%
EBITDA margin 16.6% 16.9% 14.9% 15.8%
EBIT 12,870 17,654 37.2% 28,938 44,449 53.6%
EBIT margin 10.9% 12.3% 8.4% 10.6%
Net profit 8,634 10,583 22.6% 23,688 20,635 (12.9%)

Basic net profit
per share 0.19 0.23 20.4% 0.53 0.45 (14.9%)

Operating cash
flows from
continuing
operations 26,335 44,993 70.8% 49,423 61,528 24.5%
Capital
expenditures from
continuing
operations 15,335 24,535 60.0% 45,097 65,494 45.2%



IFCO Systems believes that the development in its principal markets and the demand for its service offerings will remain strong in Q4 2005 and will result in increased operating income during fiscal 2005 as compared to 2004.

For further explanations please see IFCO Systems' quarterly report, which will be filed with the Deutsche Borse AG on or about November 10, 2005, and will be available on the company's website www.ifcosystems.com or www.ifcosystems.de.

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