DGAP-News: Kontron AG reports results for the third quarter of 2013
(firmenpresse) - DGAP-News: Kontron AG / Key word(s): Quarter Results
Kontron AG reports results for the third quarter of 2013
24.10.2013 / 06:38
---------------------------------------------------------------------»Quarterly revenues of EUR 124 million»Operating profit (EBIT) before special items of EUR 1.4 million»Positive operating cash flow of EUR 4.8 million
Eching near Munich, October 24, 2013 - Kontron AG, the globally leading
provider of Embedded Computer Technology (ECT), generated revenues of EUR
124 million in the third quarter of 2013 (Q3 2012: EUR 131 million). In
addition to a market environment that continues to be challenging, this was
due to a switch to a royalty model for one customer, which had a negative
impact of approximately EUR 10 million in the quarter. The gross margin
rose to 24.2 percent (Q3 2012: 20.1 percent). Operating income (EBIT) -
before special items - rose to EUR 1.4 million (Q3 2012: EUR -1.0 million).
Reported EBIT of EUR 5.8 million after special items stood at EUR -4.4
million. Order entries were muted and came in at EUR 105.5 million (Q3
2012: EUR 141.1 million). They too were influenced by negative special
items. After the end of the third quarter, the Management Board narrows its
revenue expectations and stays with the guidance for the result. For the
2013 financial year, revenue of between EUR 510 million and EUR 530 million
are expected. Gross profit and operating earnings are unchanged set to come
in at around the previous year's level.
'Our third-quarter earnings show both the potential of our company as a
leading player in the ECT market as well as the enormous efforts we still
have to undertake in order to transform Kontron', says Rolf Schwirz, CEO of
Kontron AG. 'I am delighted to see the commitment of our employees who
remain 'on the ball' even during these difficult times. I am also confident
that the measures we have taken to reduce costs and increase efficiency
will make Kontron sustainably more efficient.'
Compared with the prior-year quarter, cash flow from operating activities
rose by EUR 1.7 million to EUR 4.8 million in the third quarter. With an
equity ratio of 60.5 percent, Kontron continues to have a solid financial
basis to exploit the ECT market's dynamic growth and take the announced
cost reduction program forward.
'We have a very solid equity ratio of 60.2 percent. Therefore, I am
convinced that we can start our cost reduction program on a sound financial
basis', says Andrea Bauer, CFO of Kontron AG.
Successfully raising synergies
Preparations to consolidate locations are proceeding apace. Kontron plans
to realize synergies in Research&Development, manufacturing as well as
sales. In this context, about one-third of the product portfolio are
currently under review. Already, 700 products were identified for phase-out
in the foreseeable future. With a reduced product portfolio, complexity in
development, manufacturing and sales will be reduced and efficiency
enhanced.
At the same time, the network of suppliers and sales partners will be
streamlined. Currently 1,900 suppliers will be reduced to fewer than 500,
and 100 sales partners to fewer than 40.?Further information:
Harald Kinzler
HERING SCHUPPENER Consulting
Tel: +49 69 9218 7465
Email: hkinzler(at)heringschuppener.com
End of Corporate News
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Language: English
Company: Kontron AG
Oskar-von-Miller-Str. 1
85386 Eching
Germany
Phone: 08165-77-225
Fax: 08165-77-222
E-mail: gaby.moldan(at)kontron.com
Internet: www.kontron.com
ISIN: DE0006053952
WKN: 605395
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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235940 24.10.2013
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Datum: 24.10.2013 - 06:38 Uhr
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