May 11, 2010. /Lesprom Network/. Pfleiderer AG generated 1Q revenue of Euro 355.6 million, which is very close to the Euro 358 million of the prior-year period. The proportion of revenue generated outside Germany was 70.9%, compared with 70.6% in the first quarter of last year. Compared with the previous quarter, revenue grew by just over 4 %, company said in a statement received by Lesprom Network. Gross profit of Euro 74.4 million was affected above all by the distinct increase in raw-material prices compared to the prior-year period, especially for wood and chemicals (glue and input materials). Earnings before interest, taxes, depreciation and amortization (EBITDA) decreased from Euro 52.7 million in the prior-year period to Euro 22.2 million in the 1Q 2010. Positive exchange-rate effects contributed Euro 1.4 million towards earnings. Due to substantial cost savings, administrative expenses were reduced by a significant 11.1% year-on-year. The EBITDA margin for the first three months of this year amounted to 6.3%, compared with 14.7% for the prior-year quarter. EBIT fell to minus Euro 6.1 million from plus Euro 23 million in the prior-year period. The result of continuing operations after taxes amounted to a loss of Euro 16.4 million, compared with a profit of Euro 4 million in the prior-year quarter. “Developments in the first three months of the year 2010 show that we are still some distance away from so-called normality. But meanwhile, they also give us good reason for cautious optimism. We are now in a situation of a significant revival of demand, leading to good or very good capacity utilization. This allows us to adjust our prices,” stated Hans H. Overdiek, Chairman of the Executive Board of Pfleiderer AG. Pfleiderer Group manufactures engineered wood, surface finished products and laminate flooring.