Pfleiderer herewith acknowledges the view of the Higher Regional Court in Nuremberg which had previously pointed out that it only makes sense to proceed with a decision related to the shareholders’ resolutions once the resolutions taken at the creditors’ meeting have been cleared by the Higher Regional Court in Frankfurt.

Consequently, the court ruling scheduled for January 25 has been cancelled.

Contact

Media:
Frank Elsner Kommunikation für Unternehmen GmbH
Frank Elsner
Tel.: + 49 (0) 54 04 / 9192-0
Fax: + 49 (0) 54 04 / 9192-29
E-Mail: office@elsner-kommunikation.de

Analysts/Investors:
Lothar Sindel
Leiter Investor Relations
PFLEIDERER AG, Neumarkt
Tel.: + 49 (0) 9181 / 28-8044
Fax: + 49 (0) 9181 / 28-606
E-Mail: lothar.sindel@pfleiderer.com

Neumarkt, December 30, 2011 – Uniboard® USA LLC, a subsidiary of listed Pfleiderer AG (ISIN DE 996764749), has announced the signing of an agreement to sell its MDF and Particleboard facilities located in Moncure, North Carolina/USA, to a subsidiary of the Chilean manufacturer Paneles Arauco S.A. for a consideration (including working capital) of US$ 62 million (€ 47,5 million). Closing of the deal is expected in the first quarter 2012 subject to certain terms and conditions.

The sale of the Moncure site is considered a major milestone in the planned overall sales process of Pfleiderer’s North American operations. It is believed that the transaction should considerably facilitate the sale of Uniboard´s Canadian sites after a sales analysis had shown that it would be difficult to sell Uniboard with both the Canadian facilities and the Moncure site.

Hans-Joachim Ziems, Chief Restructuring Officer and Board Member of Pfleiderer AG, commented: “The sale of Moncure is a major achievement. We are fully on track with the overall sales process in North America and are very confident to generate the envisaged proceeds.”

This transaction will not affect the ability of Uniboard Canada to service its North American client base as it still owns and operates a number of manufacturing sites located in Canada.

The sale of Pfleiderer’s North American operations forms part of the restructuring plan for the Pfleiderer Group and is planned to be completed within the first half of 2012. Following major restructuring of its European business Pfleiderer increased revenue and improved substantially operating results in Western and Eastern Europe in the first nine months of 2011 and showed a net profit in Q3 (continuing operations). However, the group result continues to be impacted negatively from the North American operations.

CIBC World Markets Inc. is acting as financial advisor and Morrison Cohen LLP is acting as legal advisor to Pfleiderer AG.

Contact

Media:
Frank Elsner Kommunikation für Unternehmen GmbH
Frank Elsner
Tel.: + 49 (0) 54 04 / 9192-0
Fax: + 49 (0) 54 04 / 9192-29
E-Mail: office@elsner-kommunikation.de

Analysts/Investors:
Lothar Sindel
Leiter Investor Relations
PFLEIDERER AG, Neumarkt
Tel.: + 49 (0) 9181 / 28-8044
Fax: + 49 (0) 9181 / 28-606
E-Mail: lothar.sindel@pfleiderer.com

He is succeeding Mr Paweł Wyrzykowski, who stepped down as chairman on 24th November 2011. The supervisory board shall continue to have five members.

Mr Wolff has been employed at Pfleiderer AG as Chairman of the Management Board of the Business Center Western Europe since the start of 2004.

Contact:

Media:
Frank Elsner
Frank Elsner Kommunikation für Unternehmen GmbH
Tel: + 49 (0) 54 04 – 9192-0
Fax: + 49 (0) 54 04 – 9192-29
E-Mail: office@elsner-kommunikation.de

Investors / analysts:
PFLEIDERER AG, Neumarkt
Lothar Sindel
Vice President Investor Relations
Phone: + 49 (0) 9181 - 28-8044
Fax: + 49 (0) 9181 - 28-606
Email: lothar.sindel@pfleiderer.com

Neumarkt, December 21, 2011 –The Pfleiderer Group (ISIN DE 996764749) has sustained and in part accelerated the first-semester upturn of its operating business through the third quarter of 2011 according to preliminary figures. The Group posted an after-tax profit of 1.6 million euros for the period of July to September 2011. The key indicators of its business performance attest to the success of ongoing efforts to restructure operations.

Group revenue from the continuing operations of Pfleiderer AG in the first nine months of 2011 increased 7.8 percent in a year-on-year comparison, climbing to 892.8 million euros. Developments in the individual segments and regions diverged: Growth drivers were the Eastern European region and higher-quality products such as surface-finished panels. In both Western and Eastern Europe, most product groups saw double-digit price increases, thereby compensating for mounting raw material costs, the sharp rise of which continues unabated.

EBITDA from continuing operations in the first nine months of the current fiscal year increased to 72.3 million euros from 65.1 million euros in the same period of the previous year. The resulting EBITDA margin came to 8.1 percent in the period under review, up from 7.9 percent a year ago. Less the nonrecurring costs incurred for operational restructuring efforts, adjusted EBITDA amounted to 88.7 million euros and the resulting margin was 9.9 percent.

Business developments in the third quarter reinforce the positive trend
At 297.5 million euros, Group revenue from continuing operations in the third quarter of fiscal 2011 was up some 5 percent from the previous year’s figure despite the closure of three plants in Germany. The Eastern European region was once again the growth driver with revenue increasing around 20 percent. Notably, this revenue growth was achieved in a challenging and unstable macroeconomic environment, particularly in Europe.

The company was able to significantly increase prices both in Western and in Eastern Europe to compensate for sharply rising raw material costs and achieve a positive effect on margins. EBITDA in the third quarter of 2011 increased around 5.6 percent to 28.1 million euros, up from 26.6 million euros in the previous year. The third-quarter EBITDA margin was 9.4 percent. Adjusted for nonrecurring expenses in the amount of 6.5 million euros, EBITDA came to 34.6 million euros with a margin of 11.6 percent. Despite the burden of the continued high costs of financing, the Group closed out the third quarter with a 1.6-million-euro profit from continuing operations. It had posted a 14.2-million-euro loss in the same quarter of 2010.

Result has yet to reflect the financial relief effected by restructuring
Despite the restructuring expenses, EBIT increased markedly from 3.0 million euros in the previous year to 30.7 million euros in the first nine months of this year. One of several contributing factors was that depreciation and amortization was reduced to 41.6 million euros (62.2 million euros in the previous year).

Apart from that, the considerable debt continues to weigh down the result because the company has yet been unable to reduce the interest burden as called for by the restructuring plan.

The company posted a loss of 80.4 million euros (previous year a loss of 21.5 million euros) for the first nine months. On the one hand, interest earnings were higher than in the previous year; on the other, so were interest expenses. Both factors figured prominently in this period’s financial result. The increase in financial income from continuing operations resulted from cost transfers within the framework of the restructuring plan. Costs in the amount of 17.8 million euros were transferred to operations in North America, which are to be discontinued.

Basic net loss per share from continuing operations amounted to 0.93 euros compared to a loss of 0.56 euros per share in the same period of the previous year. Discontinued operations generated an additional loss of 1.11 euros per share (previous year loss of 0.45 euros).

Restructuring effort continues to progress on schedule
The measures affecting operations in Western Europe have been largely concluded and the selling process has commenced in North America.

In contrast, the company has yet been unable to institute the capital measures set out by the restructuring plan. Individual shareholders and creditors have filed suit, the former against the general meeting’s resolution to approve capital measures and the latter against the conversion of hybrid bonds into share options as agreed at the creditors’ meeting. Both actions had been sanctioned by a vast majority vote. Pfleiderer has petitioned the court, seeking to gain its approval so the company can promptly put these resolutions into action despite the pending litigation. The initial ruling by the court of first instance, the Frankfurt District Court, on the creditor meeting’s resolutions has given rise to public concerns about the financial restructuring plan’s chances of success. Pfleiderer holds this ruling to be erroneous and has contested it at the appellate court, the Higher Regional Court of Frankfurt. The Executive Board is confident that the Higher Regional Court of Frankfurt will concur with the position of the company and its legal counselors, and therefore believes that the lower court’s ruling will not jeopardize the restructuring plan.

A decision on the approval proceedings for the general meeting’s resolution has yet to be rendered. It is expected that the jurisdictional court, the Higher Regional Court of Nuremberg, will rule on this matter in January 2012. In view of the urgent need to implement the capital measures approved by the general meeting, the executive board has every confidence that the Higher Regional Court of Nuremberg will rule in favor of the company’s petition. It is expected that both approval proceedings will be concluded by February 2012.

Outlook
The following outlook is grounded in the assumption that the financial restructuring plan will be put into action as intended. Revenue from continuing operations is expected to increase by a mid-to-high single-digit percentage. The executive board hereby confirms its previous forecast. On a comparable basis - that is; without taking the North American business into account - Pfleiderer expects continued growth in 2012, unless the current economic situation deteriorates significantly.

The costs of restructuring will have a major impact on the overall 2011 result. The company still anticipates a loss for the overall year despite the marked improvement in the operating result. The executive board expects a further improvement of the Group’s operating result in 2012.

The report published today for the third quarter of 2011 takes the same approach as the report covering the second quarter, which presented the soon-to-be-sold North American business separately as discontinued operations. The previous year’s figures have been adjusted accordingly and are therefore comparable.

It should also be noted that the figures presented in nine-month report have yet to reflect the effects of the Pfleiderer Group’s financial restructuring plan, which calls for a massive debt reduction and extensive capital measures, as these actions have yet to be taken.

Pfleiderer Group: key figures at September 30, 2011

(according to IFRS)

*) adjusted for restructuring costs

Contact:

Media:
Frank Elsner
Frank Elsner Kommunikation für Unternehmen GmbH
Tel: + 49 (0) 54 04 – 9192-0
Fax: + 49 (0) 54 04 – 9192-29
E-Mail: office@elsner-kommunikation.de

Investors / analysts:
PFLEIDERER AG, Neumarkt
Lothar Sindel
Vice President Investor Relations
Phone: + 49 (0) 9181 - 28-8044
Fax: + 49 (0) 9181 - 28-606
Email: lothar.sindel@pfleiderer.com

Neumarkt, November 9, 2011 - The Pfleiderer Group (ISIN DE 996764749) profited in the second quarter of 2011 from the implemented restructuring of its operating activities and significantly increased both revenue and operating profit in Europe.

Important preliminary remarks

In the interim report published today on the first half of 2011, the available-for-sale North American business is presented for the first time separately as discontinued operations, in line with the provisions of IFRS; the corresponding prior-year figures have been adjusted for comparability.

It is also intended that the figures presented in the Half-Year Report do not yet reflect the effects of the financial restructuring of the Pfleiderer Group, which calls for a massive debt reduction and extensive capital actions, as those actions have not yet been completed.

Group revenue of continuing operations in the second quarter amounted to 293.0 million euros, which is 6.0 percent higher than the 276.5 million euros achieved in the prior-year quarter. Revenue in the first half of 2011 amounted to 595.3 million euros, representing an increase of 9.4 percent compared with the prior-year period (543.9 million euros). Once again, the growth driver was the significant improvement of business in Eastern Europe.

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), in which the extraordinary operational restructuring costs have been eliminated, increased in the second quarter by 44.0 percent from 20.0 million euros to 28.8 million euros. EBITDA including operational restructuring costs increased by 5.5 percent in the second quarter from 19.8 million euros to 20.9 million euros.

First-half EBITDA rose by 38.3 percent from 39.1 million euros to 54.1 million euros. Including restructuring costs, EBITDA improved by 14.8 percent to 44.2 million euros (H1 2010: 38.5 million euros).

Pfleiderer once again posted a loss for the period of 74.9 million euros for the first half of this year, compared with 18.9 million euros for the first half of last year. The loss primarily reflects a financial expense of 65.6 million euros, because the debt reduction of more than 700 million euros agreed upon this year but not yet implemented and the resulting lower interest charge are not yet included in the interim financial statements.

Assuming that the actions for financial restructuring had already been implemented, the Group’s result of continuing operations before taxes would break even for the first half of the year.

Western Europe profits from capacity adjustments

The Western Europe region posted a decrease in second-quarter revenue of only 2.0 percent from 202.1 million euros to 198.1 million euros, despite the closure of three plants in Germany, which was implemented as planned. The EBIT margin almost doubled, however, from 1.7 percent to 3.3 percent (EBIT in relation to revenue). As a result of plant closures in Ebersdorf, Gschwend and Nidda, excess production capacity in Germany was largely eliminated; this was the basis for the significant increase in prices compared with the prior-year period. Excluding one-time effects, the EBIT margin was actually 6.4 percent.

In terms of its products, Pfleiderer faced a decline in demand for raw panels with the exception of home-improvement stores. Unit sales of surface-finished panels increased, however, especially in the furniture industry. The successful implementation of a new sales strategy focusing on the expansion of the product range in the medium price segment resulted in volume growth for laminate flooring of approximately 4 percent in Europe.

Eastern Europe as a growth driver

Second-quarter revenue generated in the Eastern Europe region grew by 28.6 percent to 99.8 million euros (Q2 2010: 77.6 million euros). The EBIT margin continued to improve from 4.4 percent to 5.5 percent. Increases in raw-material costs, in some cases quite substantial, were more than offset by volume growth and higher prices. Wood prices for example increased by almost one third.

Eastern Europe was thus the growth region in the second quarter, accounting for 33.5 percent of the revenue of continuing operations and further increasing its importance for the Pfleiderer Group.

The North American business, which is available for sale and presented as discontinued operations, recorded a revenue decrease in the second quarter of 13.4 percent compared with the prior-year period from 104.9 million euros to 90.8 million euros. Exchange-rate effects were mainly responsible for the decrease, reducing revenue by 22.8 million euros. Overall, demand in the North American market was higher than in 2009 but weaker than in 2010 following the discontinuation of subsidies in the area of real estate. Another factor was that the competitive environment became more difficult due to cheap imports of laminate flooring from Asia, although Pfleiderer is deliberately withdrawing from this low-price segment. Second-quarter EBIT fell from minus 0.2 million euros to minus 1.6 million euros.

Workforce development

The number of persons employed by the Group (including North America) decreased from 5,579 at June 30, 2010 to 5,177 at June 30, 2011, which is a reduction of 402 persons or 7.2 percent. In Western Europe, the workforce shrank due to plant closures by 9.2 percent to 2,393. In Eastern Europe, the workforce expanded slightly by 0.6 percent to 1,587. In North America, the number of persons employed fell by 13.0 percent to 1,094. Compared with the end of 2010 (5,373), the Group’s workforce contracted by 196 persons.

Outlook

The ongoing development of the Pfleiderer Group depends to a large degree on the implementation of the operational and financial restructuring concept that has been decided upon. The approvals of far-reaching capital changes granted by the creditors’ meeting in June and by the extraordinary shareholders’ meeting in July were important milestones in this respect.

Some shareholders and creditors have taken legal action against those resolutions. At first instance, the Frankfurt District Court has rejected Pfleiderer’s application for release relating to the resolutions passed at the creditors’ meeting. The company will appeal against that ruling. Following a thorough examination of the lawsuits, the Executive Board is confident that it will receive the required court release. Right from the start, Pfleiderer’s planning allowed for the possibility of legal action going through several instances, so the restructuring remains on schedule.

With regard to business operations, on the basis of the course of business so far in the second half of 2011, the Executive Board anticipates the continuation of the upward trend shown in the first six months of the year. Total revenue of continuing operations in full-year 2011 should grow by a medium-to-high single-digit percentage due to the market recovery and despite the plant closures that have been carried out. The Eastern Europe region will probably achieve double-digit growth rates, while Western Europe is likely to remain fairly flat due to the capacity adjustments.

The result of operations for full-year 2011 will depend on whether and to what extent the financial restructuring is depicted in the financial statements. Assuming that the financial restructuring is fully implemented, a net profit is to be expected for the continuing operations already this year.

In the year 2012, Pfleiderer anticipates further revenue growth for its continuing operations, unless the current economic situation worsens substantially, due for example to an exacerbating sovereign-debt crisis.

Pfleiderer Group: key figures at June 30, 2011

(according to IFRS)

*)as of June, 30.

Contact:

Media:
Frank Elsner
Frank Elsner Kommunikation für Unternehmen GmbH
Tel: + 49 (0) 54 04 – 9192-0
Fax: + 49 (0) 54 04 – 9192-29
E-Mail: office@elsner-kommunikation.de

Investors / analysts:
PFLEIDERER AG, Neumarkt
Lothar Sindel
Vice President Investor Relations
Phone: + 49 (0) 9181 - 28-8044
Fax: + 49 (0) 9181 - 28-606
Email: lothar.sindel@pfleiderer.com

The contract of service of Mr. Heiko Graeve, who held Executive Board responsibility as CFO, will also be terminated by mutual consent as of October 17, 2011.

The Supervisory Board thanks Mr. Wyrzykowski and Mr. Graeve for their commitment and involvement in the orientation of the Pfleiderer Group in recent years, and for their constantly good and loyal work.

The tasks of Mr. Wyrzykowski and Mr. Graeve will be performed by the other members of the Executive Board, Mr. Hans H. Overdiek (Chairman) and Mr. Hans-Joachim Ziems.

Contact person:
Media:
Frank Elsner Kommunikation für Unternehmen GmbH
Frank Elsner
Phone: + 49 (0) 54 04 - 9192-0
Fax: + 49 (0) 54 04 - 9192-29
E-Mail: office@elsner-kommunikation.de

Analysts/Investors:
PFLEIDERER AG
Lothar Sindel
Vice President Investor Relations
Phone: + 49 (0) 9181 - 28-8044
Fax: + 49 (0) 9181 - 28-606
E-Mail: lothar.sindel@pfleiderer.com

Florian Kawohl, a Managing Director of investment firm Strategic Value Partner, is a qualified lawyer and holds an MBA and has more than fifteen years of experience as a business consultant and financial investor.

“Due to his wide-ranging and long-standing experience as well as his high degree of personal expertise, Mr. Kawohl will be a valuable adviser on the realignement of our company,” stated Hans Overdiek, Chairman of the Executive Board (CEO) of Pfleiderer AG.

With the departure of Mr. Fiedler, the position of Supervisory Board Chairman also became vacant. As Fiedler’s successor in this position, the Supervisory Board has elected Harald Joachim Joos, who had already been appointed as a member of the Supervisory Board by court order as of July 12, 2011.

Several members of the Supervisory Board had stepped down from their positions in the context of the company’s restructuring. With the appointment of Mr. Kawohl, the Supervisory Board of Pfleiderer AG is now complete again with twelve members, as stipulated by the company’s articles of incorporation.

Contact:

Media:
Frank Elsner
Frank Elsner Kommunikation für Unternehmen GmbH
Tel: + 49 (0) 54 04 – 9192-0
Fax: + 49 (0) 54 04 – 9192-29
E-Mail: office@elsner-kommunikation.de

Investors / analysts:
PFLEIDERER AG, Neumarkt
Lothar Sindel
Vice President Investor Relations
Phone: + 49 (0) 9181 - 28-8044
Fax: + 49 (0) 9181 - 28-606
Email: lothar.sindel@pfleiderer.com

Neumarkt/Munich, July 21, 2011 - The shareholders of Pfleiderer AG at today’s shareholders’ meeting approved with a 93.3 % majority a capital cut and a subsequent capital increase of up to €100 million. 44.2 % of share capital was represented at the shareholders’ meeting. The shareholders’ approval was a prerequisite for implementing the restructuring concept presented in May, which aims to relieve debt and institute a series of measures to reorganize the company’s operations.

As a result of the capital cut approved today, shareholders will initially retain only around 0.8 % of current equity. In return, they will have the opportunity to increase this share to about 16% by way of a capital increase.

The Group’s financial restructuring remains on schedule with this move. As part of the restructuring initiative, creditors had agreed to waive their claims, with the waiver being conditional to both the bondholders and shareholders’ approval of the restructuring plan and to the implementation of the projected capital increase of Pfleiderer AG.

The holders of the hybrid bond issued in 2007 at a nominal value of €275 million had already agreed in June to waive their claims in full. This waiver is tantamount to some €330 million in debt relief for the Pfleiderer Group. In return for this waiver, bondholders will be entitled to acquire up to 4% of Pfleiderer AG’s equity after the planned capital increase has been carried out.

Hans H. Overdiek, Chief Executive Officer of Pfleiderer AG, notes, “Today’s decision marks the return of brighter prospects for our customers and the more than 5,000 employees of our company. We had gained the support of financial creditors and hybrid bondholders earlier on; now our shareholders also support the proposed restructuring plan. We will expedite the operational restructuring of our Group, and are now able to devote all our attention to satisfying our customers’ demands.”

Important objectives have already been achieved with the operational restructuring effort: As previously announced, the Nidda plant was shut down at the end of June 2011. The closure of the Gschwend, Ebersdorf and Nidda factories, a part of the agreed restructuring plan, aimed to reduce overcapacity in the market and better utilize the remaining factories. Key points of the financial restructuring:

• The plan calls for creditors to waive their claims to the Group’s financial liabilities in the amount 40% of their receivables, including part of the accumulated interest and fees. The total amount comes around €380 million.

• Furthermore, the creditors provided to the company in May 2011 an additional credit line of €100 million in the form of a first-lien secured loan. Half of this loan is to be repaid after the capital measures have been carried out.

• As a result of the capital cut approved today, shareholders will initially retain only around 0.8% of current equity. However, they have the option of increasing their share of equity by up to 15%, from 0.8 % to up to around 16% by subscribing to their allotted share of the capital increase against a cash contribution of up to €40 million.

• To restore a sound equity base, the plan calls for a cash capital increase to raise up to €100 million. Certain senior secured creditors are to raise €60 million of this figure, and up to €40 million are to be financed by the shareholders of Pfleiderer AG or other third parties.

• The financial creditors are also prepared to provide a further senior secured credit of up to €40 million to cover that part of the capital increase which is not raised by the shareholders or other third parties. The planned injection of up to €100 million is therefore guaranteed in any event.

• Creditors who participate in the cash capital increase are to hold, upon its completion, at least 80% of Pfleiderer AG’s increased equity. This percentage may increase to the extent that neither the current shareholders nor third parties subscribe to their allotted shares in the capital increase. The majority situation will reflect both the creditors’ significant waiver of claims to receivables and their guaranteed cash injection of up to a further €40 million.

• The implementation of the restructuring plan is expected to continue well into the second half of 2011, and possibly into the first quarter of 2012.

Hagebusch replaces Burmester in the supervisory board

The shareholders’ meeting also confirmed Alfred Hagebusch as a new member of the supervisory board. He replaces Dr. Helmut Burmester, who in February 2011had stepped down from his position as a member of the company’s supervisory board. By a decision rendered in March at the request of the executive board and the chairman of the supervisory board, the Nuremberg District Court appointed the attorney Alfred Hagebusch to replace Mr. Burmester for a term of office expiring at the end of the company’s next shareholders’ meeting.

Contacts:
Media:
Brunswick Group GmbH
Phone: + 49 (0) 69 - 2400-5510
Fax: + 49 (0) 69 - 2400-5555
Email: Pfleiderer@brunswickgroup.com

Investors / analysts:
PFLEIDERER AG, Neumarkt
Lothar Sindel
Vice President Investor Relations
Phone: + 49 (0) 9181 - 28-8044
Fax: + 49 (0) 9181 - 28-606
Email: lothar.sindel@pfleiderer.com