Jun 13, 2006. /Lesprom Network/. At this Tuesday's annual general meeting in Munich, the board of management of MDAX-listed Pfleiderer Aktiengesellschaft painted a very positive picture of the last fiscal year 2005 and first five months of the current year. It also confirmed revenue and earnings targets for 2006. Major strategic measures have been implemented in fiscal 2006, providing a firm foundation for further growth. Pfleiderer is now a focused international manufacturer of engineered wood, being one of the top five worldwide. Following its successful capital increase in April and the sale of its business center track systems, Pfleiderer AG has taken on a new size in terms of its financial, strategic and organizational structures. Now moving forward with increased strength, the Company is well on track for a profitable future. In his statement to around 650 shareholders and guests, CEO Hans H. Overdiek declared that integration of the engineered wood activities of Kunz, taken over in December 2005, was making good progress, as the current development of business and reported figures show. Following restructuring in the panels segment in North America in 2005, the EBITDA margin has bounced back to between 15-16%. Thanks to targeted investments and the determined transfer of know how, output in the Kunz plants in Western Europe and North America has been greatly increased. However, the positive effects of this will not be seen until the second half of 2006. In reporting to the general meeting, Overdiek went on to state that increasing efficiency and earnings power, participation in dynamically growing markets and focussing on products and markets with high earnings margins and strong cash flows will continue to be central in the future development of Pfleiderer AG. The foundation for this has already been created during the last fiscal year and the first five months of the current year. As of end of May 2006, revenues for Pfleiderer AG increased to Euro 558.0 million versus Euro 314.8 million in previous year and EBITDA from continued operations almost doubled amounting to Euro 68.2 million from Euro 33.9 million in prior year. Pre-tax profits (EBT) including the capital gains from the sale of Pfleiderer track systems increased to Euro 72.7 million. Euro 12 million are generated from continued operations - an increase against the previous year’s period of one third. The board of management went on to report that business remains positive, with revenues of around Euro 1.4 billion and an EBITDA of Euro 200 million targeted for 2006. That corresponds to an EBITDA margin of an average 14.3%in 2006. Over the medium term, the EBITDA target is to be raised to 16% which will be achieved through organic growth and further acquisitions.