07.12.2015
UET United Electronic Technology AG DE000A0LBKW6
DGAP-News: UET United Electronic Technology AG releases financial figures for operating business for the third quarter 2015
UET United Electronic Technology AG / Key word(s): Quarter Results/Miscellaneous
07.12.2015 21:30
Dissemination of a Corporate News, transmitted by DGAP - a service of EQS
Group AG.
The issuer / publisher is solely responsible for the content of this announcement.
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- Consolidated revenues amounted to 16.629 mn EUR
- Revenue growth +3.596 mn EUR respectively +28%
- MANUFACTURING and SERVICE with positive profit contribution
- SYSTEMS reported declining profit
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 2015, from July
1st 2015 to September 30th 2015.
In the period from July to September of the fiscal year 2015, the operating
companies and business areas in the core business of the UET Group
generated consolidated revenues of 16.629 mn EUR. This represents a revenue
increase of 3.596 mn EUR respectively +28%. For the first time the
consolidated ALBIS Technologies AG, Zürich provides a contribution.
Due to delays in customer projects the business area SYSTEMS reported not
realised revenues. Increased pressure on sales prices and increased costs
of good sold led to reduced and declining margins for hardware intensive
products.
Focus on core business cause a planned reduction in the business areas
MANUFACTURING and SERVICE. Operating profits are positive in the reported
quarter.
Not including consolidation effects, the financial figures are presented as
follows:
The business area SYSTEMS generated a quarterly revenue of 13.274 mn EUR
(previous year 9.337 mn EUR). This represents a growth of 42%.
The development of earnings within the business area SYSTEMS was negative.
EBITDA decreased to -1.413 mn EUR (previous year 1.309 mn EUR). EBIT
amounted to -1.926 mn EUR (previous year 0.967 mn EUR). ALBIS Technologies
AG generated an EBITDA of -0.367 mn EUR and an EBIT of -0.404 mn EUR in the
third quarter. The development of ALBIS' earnings is in line with
expectations, integration will be continued as planned.
The business area MANUFACTURING reported total revenues of 4.779 mn EUR,
which is 8% lower compared to last year.
EBITDA totaled at 0.056 mn EUR (previous year 0.173 mn EUR), total EBIT was
0.033 mn EUR and decreased by 0.114 mn EUR compared to last year.
The business area SERVICE reported revenues of 0.490 mn EUR in the third
quarter and was therefore almost at the previous year's level. EBITDA and
EBIT could be increased by 0.062 mn in comparison to the quarterly results
of the previous year and improved to 0.050 mn EUR.
The reported financial figures do not include consolidation effects of
existing non operating UET Holding companies.
An optimisation program has been defined and mostly already implemented
within the UET Group. This program includes the insourcing of the
production to Germany, realisation of synergies within the organisation of
the business areas, as well as the reduction of spendings for product
development and a downsizing in personnel.
The mentioned measures will result in a cost reduction and create a
positive result of 3 mn EUR for the fiscal year 2016. The program will be
continued with the objective to reduce spendings by an additional 1 mn EUR
that will lead to a total of 4 mn EUR of savings for 2016.
For the fourth quarter 2015 we expect a stable continuation.
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]
07.12.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and 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 Announcement DGAP News-Service
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