PROFIT WARNING: PKC GROUP LOWERS ITS OPERATING PROFIT OUTLOOK FOR 2013 DUE TO UNIT IN BRAZIL
PKC Group Plc Company Announcement 29 May 2013 8.15 a.m.
PROFIT WARNING: PKC GROUP LOWERS ITS OPERATING PROFIT OUTLOOK FOR 2013 DUE TO UNIT IN BRAZIL
Brazilian unit’s profitability shall be weaker than previously estimated. The operating losses shall increase due to the sizeable payments related to the new collective bargaining agreement which have been demanded from automotive companies in Curitiba and which weaken PKC’s operating profit during the second half of the year.
PKC lowers its outlook for 2013 so that the comparable operating profit excluding non-recurring items is not estimated to reach 2012 level. The estimate regarding the full year net sales remains unchanged.
REVISED PKC GROUP’S OUTLOOK
PKC Group estimates its full year 2013 net sales to be lower than in 2012 and estimates its comparable operating profit excluding non-recurring items not to reach 2012 level. In 2012 PKC’s net sales were EUR 928.2 million and comparable operating profit excluding non-recurring items was EUR 51.5 million.
PREVIOUSLY PUBLISHED PKC GROUP’S OUTLOOK
PKC Group estimates its full year 2013 net sales to be lower than in 2012 and estimates its comparable operating profit excluding non-recurring items to reach 2012 level. In 2012 PKC’s net sales were EUR 928.2 million and comparable operating profit excluding non-recurring items was EUR 51.5 million.
PKC GROUP PLC
Board of Directors
Matti Hyytiäinen
President and CEO
For additional information, contact:
Matti Hyytiäinen, President & CEO, PKC Group Plc, +358 400 710 968 (from 8.15 to 9.30 and from 15.00 onward)
Juha Torniainen, CFO, PKC Group Plc, +358 40 570 8871
DISTRIBUTION
NASDAQ OMX
Main media
www.pkcgroup.com
PKC Group is a global partner, designing, manufacturing and integrating electrical distribution systems, electronics and related architecture components for the commercial vehicle industry and other selected segments. The Group has production facilities in Brazil, China, Estonia, Finland, Germany, Mexico, Poland, Russia, Ukraine and the USA. The Group's net sales in 2012 totalled EUR 928.2 million. PKC Group Plc is listed on NASDAQ OMX Helsinki Ltd.
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