13.09.2016
UET United Electronic Technology AG DE000A0LBKW6
DGAP-News: UET United Electronic Technology AG releases financial figures for operating business for the second quarter of 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 second quarter of 2016
13.09.2016 / 10:15
The issuer is solely responsible for the content of this announcement.
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- Consolidated revenues amounted to 16.065 mn EUR
- Decrease in turnover of -1.218 mn EUR or -7 % respectively
- Intensifying realignment in the business area SYSTEMS
- MANUFACTURING and SERVICE with improved contribution to earnings
UET United Electronic Technology AG (ISIN: DE000A0LBKW6), Eschborn,
releases selected financial figures for the operating business units
SYSTEMS, MANUFACTURING and SERVICE for the second quarter of 2016, from
April 1st to June 30th 2016.
In the period from April to June of the fiscal year 2016, the operating
companies and business units in the core business of the UET Group
generated consolidated revenues of 16.065 mn EUR. This equates to a
decrease of -1.218 mn EUR or -7 % compared to the previous year.
Within the scope of the implemented optimization, the business units
SERVICE and MANUFACTURING generated increased results in the second
quarter. In the business area SYSTEMS, the realignment has been accelerated
in order to compensate ongoing project delays of customer projects.
Excluding consolidation effects, the financial figures are presented as
follows:
The business unit SYSTEMS generated quarterly revenues of 14.421 mn EUR,
which equates to a growth of 3.7 % compared to the same period of the
previous year. During the second quarter of 2016, the EBITDA was negative
with -0.661 mn EUR compared to -0.623 mn EUR of the same period last year.
The EBIT amounted to -1.178 mn EUR (previous year: -1.085 mn EUR).
In the scope of realignment, all essential research and development
projects were insourced, the headcount will be reduced by 10 % by the end
of the year 2016 and new products in the areas Supply Chain and Network
Management have been introduced. In order to compensate for the pending but
repeatedly delayed start of deliveries for new large-scale projects in
Germany and Mexico, investments were made to develop the markets Central
and South America as well as Middle East and South Africa. Until the end of
2016, the market behaviour here is expected to remain reserved.
The business unit MANUFACTURING posted revenues of altogether 4.397 mn EUR
and was hence 13 % below the same quarter of the previous year. Despite the
low quarterly revenue, the EBITDA amounted to 0.086 mn EUR (previous year:
0.084 mn EUR), which was due to the implemented optimization. Moreover, the
EBIT amounted to 0.064 mn EUR and improved by 0.004 mn EUR compared to the
previous year.
For the third quarter, we expect an increase in revenue and results in this
business area.
In the business unit SERVICE, SUCONI Service reported revenues of 0.468 mn
EUR in the second quarter, which corresponds to an increase by approx. 6 %
compared to the previous year. Not only revenues, but also EBITDA as well
as EBIT could be improved and increased by 0.040 mn EUR compared to last
year to now 0.059 mn EUR.
For the third quarter we again expect an improved result.
The reported financial figures do not include a consolidation of the UET
holding companies. Those will be presented in detail in the semi-annual
report, which will be published on September 15th.
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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13.09.2016 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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