09.02.2017
UET United Electronic Technology AG DE000A0LBKW6
DGAP-News: UET United Electronic Technology AG releases financial figures for operating business for the third quarter 2016
DGAP-News: UET United Electronic Technology AG / Key word(s): Quarter
Results/Miscellaneous
UET United Electronic Technology AG releases financial figures for operating
business for the third quarter 2016
09.02.2017 / 16:15
The issuer is solely responsible for the content of this announcement.
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- Consolidated revenues amounted to 14.631 mn EUR
- Decrease of consolidated revenue of 1.997 mn EUR respectively 12 %
- Improvement of quarterly operating results compared to the previous
year
- Business areas MANUFACTURING and SERVICE with positive profit
contribution
UET United Electronic Technology AG (ISIN: DE000A0LBKW6), Eschborn,
releases selected financial figures for the operating business areas
SYSTEMS, MANUFACTURING and SERVICE for the third quarter 2016, from July
1st 2016 to September 30th 2016.
In the period from July to September of the fiscal year 2016, the operating
companies and business areas in the core business of the UET Group
generated consolidated revenues of 14.631 mn EUR. Compared to the previous
year this represents a revenue decrease of 1.997 mn EUR respectively 12 %.
Due to slow down or delayed projects with key customers, expenses and
personnel numbers have been adjusted and will be subject to further
adjustments. Competition in the hardware business keeps growing that leads
to accelerated development of our service and license product portfolio. As
part of this evolution, the business areas SYSTEMS and SERVICE will be move
closer together to realise synergy effects and develop the market.
Focus on profitability lead to a planned reduction in the business areas
MANUFACTURING and SERVICE revenues. Both business areas reported positive
profits.
Not including consolidation effects, the financial figures are presented as
follows:
The business area SYSTEMS generated a quarterly revenue of 13.012 mn EUR
and remained 2 % below last year's result of 13.274 mn EUR.
The operating result was negative, however compared to last year, the
development of earnings could be improved.
EBITDA improved by 0.913 mn EUR from the same quarter last year to
-0.500 mn EUR. EBIT amounted to -1.005 mn EUR and improved by 0.921 mn EUR
compared to last year.
The business area MANUFACTURING reported total revenues of 4.633 mn EUR,
which is 3 % below last year's figure of 4.779 mn EUR.
Despite slightly retrogressive revenues, both MANUFACTURING businesses -
Letron and NewTal - could increase their quarterly results. EBITDA for the
business area was positive and totaled at 0.258 mn EUR. EBIT amounted to
0.236 mn EUR. Therefore, both results could be increased by 0.179 mn EUR
compared to the same period last year.
The business area SERVICE reported revenues of 0.511 mn EUR for the third
quarter, which corresponds to growth of 4.5 % compared to last year. The
operating result was positive and could be increased, as well. EBITDA and
EBIT amounted to 0.059 mn EUR and hence improved by 18 % compared to the
quarterly figures of last year.
In comparison with the total consolidated turnover, the decline of revenues
of the single business areas is significantly lower. This effect arises
from the increased intercompany performance and is mainly an impact of the
insourcing program.
The reported financial figures do not include consolidation effects of
existing non-operating UET Holding companies.
The short-term outlook remains restrained in these difficult market
conditions. The long-term project volume especially for SYSTEMS solutions
for broadband expansion and network migration is increasing. The impacts of
the implemented measures from the optimizing and development program will
keep improving the result.
Contact:
UET United Electronic Technology AG
Frankfurter Straße 80-82
D-65760 Eschborn
Sebastian Schubert
Tel: + 49 (0) 6196 777755-0
E-Mail: [email protected]
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09.02.2017 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: UET United Electronic Technology AG
Frankfurter Straße 80-82
65760 Eschborn
Germany
Phone: +49 (0)6196-7777550
Fax: +49 (0)6196-7777559
E-mail: [email protected]
Internet: www.uet-group.com
ISIN: DE000A0LBKW6
WKN: A0LBKW
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Stuttgart; Open Market (Entry Standard) in Frankfurt
End of News DGAP News Service
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