DGAP-News: Vtion Wireless Technology confirms Outlook
(firmenpresse) - DGAP-News: Vtion Wireless Technology AG / Key word(s): Quarter Results
Vtion Wireless Technology confirms Outlook
11.11.2013 / 08:58
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Vtion Wireless Technology confirms Outlook
Frankfurt, 11 November 2013. Vtion Wireless Technology AG, one of the
leading suppliers of wireless data solutions for mobile computing in China,
announces its preliminary results for the first nine months of 2013.
Revenues reached 45.3 million Euros in this reporting period, with an EBIT
margin of 8%. Based on the company's current expectations, it remains on
pace to reach the bottom end of its full year guidance.
Preliminary financial results of the first nine months of 2013
Revenues decreased by 23%, from 58.73 million Euros between January and
September 2012 down to 45.26 million Euros in the first nine months 2013.
Vtion's EBIT margin increased from 7% in Q2 2013 to 10% in the third
Quarter on a revenues-basis of 17.5 million Euros.
Chen Guoping, CEO of Vtion Wireless Technology commentates: 'At present,
our wireless data terminals business remains a reliable driver of our
financial results. I am pleased that we have remained profitable in this
core business segment. In the future, we will seek to provide the
comprehensive computing solutions customized for certain industries as well
as expand our wireless data terminal offerings as 4G technology is
introduced to the Chinese market.'
Guidance for the financial year 2013 confirmed
Despite challenging market conditions the company's management team still
projects the company will reach its guidance of revenues between 60 and 70
million Euros and an EBIT margin between 8 to 10%. The company expects
steady revenues in the fourth quarter, despite the fact that the quarter is
typically weaker than the third, due to reduced procurement on the part of
the telecom operators heading into year-end.
About Vtion
The Vtion Group is a leading supplier of wireless computing solutions and
products for mobile Internet access via broadband wireless networks in the
People's Republic of China. The company offers tablet PC products and
support services through its mobile intelligent terminals business segment,
including both to the consumer market and industry-specific clients.
Through its wholly owned subsidiary, Vtion Anzhuo, the company offers
online applications for the Android operating system. For 2012, the company
reached sales revenues of 75,6 million Euros with an EBIT margin of nine
per cent. Vtion Wireless Technology AG shares are being traded in the Prime
Standard on the Frankfurt Stock Exchange with the ISIN DE000CHEN993. The
company's ticker symbol is V33.
For further information, please contact:
Kirchhoff Consult AG
Dr Kay Baden, tel.: +49 40 60 91 86 0, baden(at)kirchhoff.de
or visit the company website at: www.vtion.de
Disclaimer concerning prognoses
This communication contains forward-looking statements. Forward-looking
statements are statements that are not historical facts instead they
reflect Vtion's current views and expectations and the assumptions
underlying them about future events. Forward-looking statements are subject
to many risks and uncertainties. If any of such risks and uncertainties
materialise or if the assumptions underlying any of Vtion's forward-looking
statements are proving to be incorrect, Vtion's actual results may be
materially different from those expressed or implied by such
forward-looking statements. Vtion does not intend or assume any obligation
to update these forward-looking statements. Any forward-looking statement
speaks only as of the date on which it is made.
End of Corporate News
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Language: English
Company: Vtion Wireless Technology AG
Westhafenplatz 1 (Westfalen Tower)
60327 Frankfurt
Germany
Phone: +49 69 710 456 245
Fax: +49 69 710 456 248
E-mail: ir(at)vtion.de,Janina.schumann(at)kirchhoff.de
Internet: www.vtion.de
ISIN: DE000CHEN993
WKN: CHEN99
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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239018 11.11.2013
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Datum: 11.11.2013 - 08:58 Uhr
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News-ID 314775
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