RoodMicrotec: provisional annual figures for 2014
(Thomson Reuters ONE) -
Zwolle, 12 March 2015
2014 HIGHLIGHTS
Commercial/operational
* Sales in 2014 of EUR 9.971 million fell by 11% compared to 2013 (EUR 11.180
million) due to longer lead times and postponement of some big orders.
Decline mainly in Test, Test Engineering and Qualification & Reliablity.
* Lower sales and seizing new market opportunities have resulted in a net
result of EUR 1.369 million negative in 2014 (2013: EUR 0.189 million
negative).
* More investments in the second half of 2014 in sales and marketing.
* Setup of Automotive Competitive Centre and investments in automotive
infrastructure as a result of new automotive projects and new prospects.
* Investments in highly promising projects like 'light switches based on
radiofrequency'.
* Strategic partnership with Fraunhofer Institute IIS.
* Further strengthening of SCM.
* New test handling and programming equipment to handle new promising products
of (new) customers.
* Sharp increase of our quote portfolio and a continued positive book-to-bill
ratio.
* Significant headcount cost reduction programme resulting in EUR 1.3 million
within the next 3 years. This program is partly based on attrition, but also
partly on forced layoffs.
* The difference in personnel costs compared to 2013 was caused mainly by a
non-recurring income in respect of the pension scheme.
* Strategic adjustment in response to changing market conditions. Our new
approach involves longer lead times.
Financials
* EBITDA: EUR 544k negative (2013: EUR 965k positive).
* EBIT (operating result) is EUR 1,336k negative (2013: EUR 82k positive).
* Net result of EUR 1,369k negative (2013: EUR 189k negative): at year-end
2014 the company had approximately EUR 15 million tax losses available which
are indefinite in time. The company has recognised only 10% of these losses
as in previous years. We take a conservative approach in this.
* Net cash flow improved from EUR 36k in 2013 to EUR 1.018k in 2014. The net
cash from operating activities amounted EUR 263k negative in 2014 compared
to EUR 17k positive in 2013.
* The working capital position improved strongly from EUR 831k negative in
2013 to EUR 150k positive in 2014.
* Decrease in solvency rate to 36% (H1 2013: 44%) as a result of the negative
result and the decrease of the pension discount rate to 2% (This change in
discount rate had a negative impact on the equity position of EUR 1.1
million).
* Issue of ? 2.500 million bond loan and repayment of bank loans; all short-
term loans, except the finance lease, were redeemed using the proceeds from
the bond loan. This form of financing has greatly reduced RoodMicrotec's
finance liabilities for the short term.
KEY FIGURES
(X EUR 1,000) IFRS IFRS IFRS IFRS IFRS
2014 2013 2012 2011 2010
------------------------------------------
Unaudited Audited Audited Audited Audited
Net sales 9,971 11,180 11,971 15,717 15,563
Gross margin 8,184 9,021 9,688 12,342 12,242
EBITDA -544 965 703 1,865 2,361
EBIT (operating result) -1,336 82 -181 709 733
Cash flow from operating activities -263 17 899 1,939 1,689
Net result *-1,369 -189 -281 588 448
Capital, debt & liquidity ratios
Total assets *11,170 11,947 12,915 12,857 13,726
Group equity *3,978 5,396 5,457 6,139 5,647
Net debt 2,119 1,613 2,716 2,686 3,334
Capital (=net debt + equity) *6,097 7,009 8,173 8,824 8,981
Gearing ratio (net debt / capital) *35% 23% 33% 30% 37%
Solvency (group equity / total
liabilities) *36% 45% 42% 48% 41%
Debt ratio (net debt / EBITDA) -3.90 1.67 3.86 1.44 1.41
Net working capital 108 -831 -922 -831 -569
Working capital ratio (curr.ass. /
curr.liab.) 1.05 0.80 0.76 0.79 0.87
Assets
Tangible fixed assets 5,567 5,446 6,347 5,732 5,710
Investments in tangible fixed assets 499 535 1,475 1,024 681
Depreciation of tangible fixed
assets 792 869 860 1,156 1,600
Data per share (x EUR 1)
Capital and reserves 0.09 0.14 0.15 0.17 0.16
Operating results -0.03 0.00 -0.01 0.02 0.02
Cash flow -0.01 0.00 0.03 0.05 0.05
Net result -0.03 0.00 -0.01 0.02 0.01
Share price: year-end 0.25 0.16 0.15 0.16 0.17
Share price: highest 0.35 0.18 0.23 0.31 0.19
Share price: lowest 0.15 0.14 0.15 0.14 0.15
Issue of nominal shares
At year end (x 1,000) 43,519 38,674 35,769 35,769 35,769
Number of FTEs (permanent)
At year-end 94 96 103 106 120
Average 97 99 103 111 124
Sales (total) / average FTEs
(permanent) 103 113 116 142 126
* These items are still under discussion with our auditor. The audit has not yet
been completed.
Sales result
RoodMicrotec N.V.'s sales in 2014 were EUR 9.972 million (2013: EUR 11.179
million), a 11% decrease compared to 2013. Net sales are presented below, broken
down by market segment.
(x EUR 1,000) 2013 2014
------------------------------------------
Automotive 2,961 2,671
Telecoms 257 239
Industrial/Medical 5,883 5,545
Electra Data Proc. 556 527
Consumer 419 478
Hi-rel/Space 1,104 512
------------------------------------------
Total 11,180 9,972
Net sales broken down by customer type:
(x EUR 1,000) 2013 2014
---------------------------------------------
Fabless companies 5,046 5,116
OEMs 3,936 3,501
IDMs 1,369 731
Distributors & others 829 624
---------------------------------------------
Total 11,180 9,972
The sales results of the business units compared to 2013*):
(x EUR 1,000) 2013 2014 Approx. change
------------------------------------------------------------------
Test 4,526 3,504 -22.6%
Supply Chain Management 2,465 2,850 +15.7%
Failure & Technology Analysis 1,447 1,517 +4.8%
Test Engineering 584 516 -11.6%
Qualification & Reliability 2,158 1,585 -26.6%
------------------------------------------------------------------
Total 11,180 9,972 -10.8%
*) Due to an altered
definition of sales by BU, there has been a shift between BUs.
Business units
Semi-annual sales result:
(x EUR 1,000) HY2 2014 HY1 2014 * Approx.
change
Test 1,796 1,708 +5.2%
Supply Chain Management 1,532 1,318 +16.2%
Failure & Technology Analysis 813 704 +15.4%
Test Engineering 252 264 -4.5%
Qualification & Reliability 809 776 +4.3%
Total 5,202 4,770 + 9.0%
*) Due to an altered definition of sales by BU, there has been a shift in sales
between BUs, leading to an adjustment of the sales figures for the first half
year. The total sales for the half year have not been adjusted.
In the second half of 2014, sales increased markedly compared to the average for
the first half of this year. However, sales are still under pressure from
postponed projects.
On the other hand, the quote portfolio (quotations to customers) remains high at
over EUR 10 million. In addition, between 50 - 90% of the quotations results in
an order (hitrate). In 2014, the book-to-bill ratio was above 1.0 in all
quarters, and the average for the full year was between 1.1 and 1.2. This is
significantly higher than in the past.
The fact that the factors set out above have not yet resulted in a material
increase of sales is related to the inevitable long preparation times for most
of the projects. However, once these projects start to generate sales, these
will be recurring sales. Recurring sales will give us a far more stable position
than we used to be able to realise.
We anticipate that for several projects we will be able to finalise the phase
preceding actual production in the next 5 - 8 months. As of that time, these
projects will start to generate actual turnover.
'Currently, all our indicators are green and we anticipate that we will be able
to profit from this in 2015. We have worked hard to put ourselves in this
position in the course of 2014, both in terms of winning projects and in terms
of the (staff) structure of the company. One interesting initiative in this
context is the setup of an Automotive Competence Centre. OEMs and FCs have
responded to this with great enthusiasm because they are interested in the high
tech market. This clearly distinguishes us from other market parties,' said
Philip Nijenhuis, RoodMicrotec CEO.
Trends
Outsourcing
Medium-sized companies are increasingly working together in order to raise their
joint services to a higher level so as to best combat competition from Asian
countries. OEMs who still develop ASICs or other chips in-house will
increasingly outsource this work to independent service providers like
RoodMicrotec.
This outsourcing trend is expected to continue. Partly due to its
infrastructure, RoodMicrotec is in an excellent position to profit from this
optimally.
Secured bond
The successful issue of bonds with mortgage cover via NPEX and the strengthening
of our equity have had a very positive impact on our balance sheet ratios and on
our financial position in general, so we will be able to roll out our strategy
better. This improved position allows us to contribute more actively to the
development of new products, generating recurring sales.
Co-creating, co-operation and co-investing
Our new strategy involves co-investing in new promising projects while also
investing in additional sales capacity, the latter mainly in order to compensate
for the decline in sales in our 'traditional' product portfolio. By co-investing
in promising projects, we aim to try to break through the continuing lending
restraint in the financial markets, which often frustrates our customers, many
of which are Fabless Companies (FCs), in their development. With our approach,
we aim both to boost the development of FCs and increase our sales and our
position in the marketplace.
We have transformed the company from a pure testhouse into a semiconductor
company for new applications. Where in the past everything revolved around
equipment and the operators, we are now focusing on finding solutions and
offering a complete product based on integrated services throughout the lifetime
of the product/chip. In this way, we will contribute more actively to new
product development (co-creating and co-operation), which will result in
recurring sales and in long-term projects that yield more stable, more
predictable and less cyclic sales.
The majority of the headcount is nowadays of engineering degree level or
similar. And our customer base is completely changed. We used to supply a few
major IDMs, but now our main customers are Fabless Companies and OEMs like
Philips, Siemens, Bosch and Porsche.
The new strategy also means co-investing in new and promising projects, which is
partly aimed at breaking through the ongoing lending restraint in the financial
markets.
The memorandum of understanding on the communication chip is a concrete example
of the co-operation aspect of our new strategy. The device can be used in a
number of advanced electronic applications such as smart metering, home,
building and industrial automation. With ultra low power consumption, it allows
wireless communication between 'things' (objects, products, equipment, systems)
and between these things and humans, as envisaged in the EU initiative 'The
Internet of Things' (IoT).
New product development
In our new strategy we focus increasingly on supporting product development by
OEMs and FCs. This has already resulted in several contracts for long-term
projects and recurring sales. In addition, we are working on preparations for
10 - 20 also long-term projects with recurring sales. These form the backbone of
our growth strategy. We anticipate that these projects will be turned into
contracts in the near future, which will lead to structural additional sales. In
order to raise the volume of orders long-term, we continue to work on
strengthening our sales organisation.
Partnership with Fraunhofer Institute
RoodMicrotec and the Fraunhofer Institute for Integrated Circuits IIS agreed in
2014 to expand their existing collaboration. The aim is to offer customers
complete solutions from ASIC design to supply chain management.
Fraunhofer IIS, one of Europe's leading IC design facilities located in
Erlangen, Germany, and RoodMicrotec, an independent value-added service provider
in the area of micro and optoelectronics for FCs and OEMs, will combine their
experience, know-how, equipment and highly skilled staff in order to provide
customers with a more efficient and complete supply chain solution from concept
covering all the processes of design, manufacture, assembly, electrical test and
qualification, down to delivery of the product ready for volume production of
the customer's end product.
Reliability of our business planning
Our planning and budgeting process is a very thorough and therefore time-
consuming process. All our sales managers and directors are involved in this
process. Our sales forecasts are based on information coming from our customers,
a bottom-up approach.
The results of the diligently prepared information from our customers are
reflected in our budget. This also means that leads and prospects generated
after the budget period, as of January 2015, throughout the year are not taken
into account.
Our experience over the past 10 years has shown us that in some cases growth is
much higher than expected, sometimes lower. During the crisis, as of 2009, the
uncertainty has been higher than normal. For example, we had a very successful
period between the second half 2010 and the first half 2011. In that period our
revenue increased significantly, but unfortunately deteriorated again in the
second half of 2011.
Strong improved indicators and significant cost reductions
Our total revenue over the last 10 years increased very strong between 2004 and
2011. We had a deterioration during the crisis. In 2014 our revenues increased
in the second half year compared to the first half year. The total revenue is
the sum of our three segments: FCs and OEMs on the one hand, and IDMs on the
other. Our revenue increase was caused by our improved position in FCs and OEMs.
In 2004, revenue from IDMs was roughly approx..70% of total revenue, in 2014
less than 10%. Conversely, our revenue from FCs and OEMs increased sharply from
about 30% to 90% in 2014. We realised significant growth in our core segment,
which is an important element in our strategic forecast. Another aspect is that
FCs need a longer start-up phase, but will later lead to much more recurring
business.
Of course, results realised in the past do not offer guarantees for the future,
but that applies both ways. This means that a disappointing year may be followed
by a very successful year.
Part of our strategy is also to strengthen our sales force, which we hope will
result in a further increase of our quote portfolio, hitrate and book-to-bill
ratio in 2015. This expectation is in line with the thoroughly prepared bottom-
up forecasts from our sales managers/customers. All indicators point to
increasing revenue and results, none point to the opposite.
The management of RoodMicrotec is convinced, based on strong evidence, of the
correctness of the strategic choices we have made and of future growth which
will result in better financial results, as presented in our forecast.
Of course, revenue guarantees for the year are impossible. We do not consider
uncertainty concerning revenue as an argument to reduce the forecast for reasons
of prudence. An annual report which shows too negative a perspective concerning
the future is as incorrect and unreliable as a report which is too optimistic.
From our point of view, we feel bound to disclose in our annual report, as we
have done in the past, the uncertainty concerning future prospects.
As discussed before, our growth is coming from FCs and OEMs. The difference with
doing business for IDMs is that orders from IDMs create business at short
notice, while orders from FCs and OEMs require extensive preparation times and
involve greater uncertainty. The financial crisis has reduced our revenue
significantly. Many customers are unable to get funding in time. We have changed
the way we work with our customers by introducing co-creating, co-operation, co-
investing.
Despite the fact that we expect higher revenue in the coming years, we will
reduce our headcount significantly. This will be achieved partly through natural
wastage and partly by reassigning and reorganising tasks and responsibilities.
Forced lay-offs are not excluded.
Order postponement
Our customers' sales forecasts raised expectations for 2014, as many had
predicted strong growth. But sales growth proved elusive. Forecasts were
adjusted downwards in the course of the year in the face of uncertainty in the
market, which was partly due to ongoing uncertainty in the financial markets.
This resulted in a mixed picture. The quote portfolio remained high and even
increased, but actual order placement often proved elusive. Projects were
frequently postponed as well. Normally, postponed contracts tend to be offset by
un-forecast new opportunities, but this was less the case in 2014. We expect
that a majority of the postponed projects will be (re)started as of 2015.
The continuing order postponements in 2014 also contrasted with the increased
quote portfolio. In spite of the positive developments and the fact that our new
strategy has been received so well, the postponements were affecting our sales.
On the other hand, we are proud to be playing an ever more important part in the
supply chain for OEMs and FCs by supporting their new product development, which
is reflected in our 2014 quote portfolio and book-to-bill ratio (see next
paragraph). This significant upswing in our quote portfolio would have been
unthinkable just a few years ago.
Quote portfolio and hitrate
In the second half of 2014, sales increased markedly compared to the average for
the first half of this year. However, sales remain under pressure from postponed
projects.
Our quote portfolio increased to more than EUR 10 million. In addition, between
50 and 90% of the quotes result in orders, and this overall hitrate trend
(quotations turned into orders) continues to rise. In 2014, the book-to-bill
ratio was above 1.0 in all quarters, and the average for the full year was
between 1.1 and 1.2. This is significantly higher than in the past.
The fact that the factors set out above have not yet resulted in a material
increase of sales is related to the inevitable long lead times for many of the
projects. However, once these projects start to generate sales, these will be
recurring sales. Recurring sales give us a far more stable position than we used
to be able to realise.
We anticipate that for several projects we will be able to finalise the phase
preceding actual production in the next 5 - 8 months. As of that time, these
projects will start to generate actual turnover.
Currently, all the lights are green and we anticipate that all this will start
to bear fruit in 2015. We have worked hard in 2014 to put ourselves in this
position, both in terms of winning projects and in terms of the (staff)
structure of the company. An interesting initiative in this context is the setup
of an Automotive Competence Centre (see at the top of this report). OEMs and FCs
have received it with great enthusiasm because they are interested in the high
tech market. This clearly distinguishes us from other market parties.
Personnel, sales by employee and headcount
The average number of full-time employees (FTE) decreased by approx. 2 % from
99 FTEs in 2013 to 97.0 FTEs in 2014. Sales per full-time employee decreased by
approx. 10 % from EUR 113,000 in 2013 to EUR 103,000 in 2014.
The strategy change mentioned in this report has obviously impacted the
organisation, leading to a different composition and management of our staff. We
plan to optimise our organisation, in balance with the new service portfolio. A
significant headcount reduction in some business areas is inevitable. The total
reduction will be between 10% - 15% in 3 years, resulting in a cost reduction of
EUR 1.3 million in 3 years. This programme is based on attrition as well as on
forced layoffs. Reductions will occur only after the completion of appropriate
consultation processes and in accordance with local legal practices.
Outlook 2015
Ongoing postponement of orders makes is difficult for us to state when the sales
increase anticipated by our high hitrate will materialise. During 2014 we
improved our forecasting system and besides customer forecasts, we use
indicators based on our quote portfolio, hitrate and book-to-bill ratio. All
these indicators are positive. We are also mindful of recent developments, with
the euro falling in value on one hand, and quantitative easing in the capital
market on the other hand, in conjunction with the World Semiconductor Trade
Statistics (WSTS) global market growth forecast of 3.4% for 2015 and 3.1% for
2016. However, these figures are still below the 6% multi-year average since
2000. Both in view of the general market outlook, the macroeconomic forecasts
and based on our internal analyses we expect gradual sales growth in 2015, that
is to say, skewed towards the second half of the year.
We maintain our previously stated long-term objective to realise annual
autonomous growth of between 3 and 13% at an average 6% growth of the
semiconductor market up to 2017, and of improving the operating and net results.
The present headcount will be reduced by approximately 15% in the next 3 years
to bring it in line with our new strategy and the corresponding market position,
preferably of course through natural wastage. Forced lay-offs are not excluded.
RoodMicrotec will continue to strengthen its product portfolio, inter alia by
focusing on FCs and OEMs (particularly on outsourcing: project Atlas).
Conference call Thursday March 12, 2015, 8.30 am (before opening stock exchange)
There will be a conference call for press, analysts and other interested
parties. The telephone number to join the call is + 31 20 531 5850.
With reference to our previous press release the publication of our annual
report 2014 has been rescheduled to April 6(th),2015 as a result to this the
Annual General Shareholders Meeting will be held on Monday May 18(th), 2015.
Financial agenda
6 April 2015 Publication annual report 2014
14 May 2015 Trading update
18 May 2015 Annual general meeting of shareholders
9 July 2015 Publication sales figures first half 2015
27 August 2015 Publication interim report 2015
27 August 2015 Conference call for press and analysts
12 November 2015 Publication trading update
7 January 2016 Publication annual sales figures 2015
25 February 2016 Publication annual figures 2015
25 February 2016 Conference call for press and analysts
10 March 2016 Publication annual report 2015
21 April 2016 Annual general meeting of shareholders
12 May 2016 Publication trading update
7 July 2016 Publication sales figures first half 2016
25 August 2016 Publication interim report 2016
25 August 2016 Conference call for press and analysts
15 November 2016 Publication trading update
Consolidated statement of profit or loss
---------------------------------------------------------------
unaudited audited
(x EUR 1,000) Notes 2014 2013
---------------------------------------------------------------
Net sales 1 9,971 11,180
Cost of sales 2 -1,787 -2,159
---------------------------------------------------------------
Gross profit 8,184 9,021
Personnel expenses 3 -6,027 -5,351
Other operating expenses 4 -2,701 -2,705
---------------------------------------------------------------
Total operating expenses -8,728 -8,056
---------------------------------------------------------------
EBITDA -544 965
Depreciation and amortisation 5 -792 -883
---------------------------------------------------------------
EBIT -1,336 82
Financial expenses 6 -177 -230
---------------------------------------------------------------
Profit before tax -1,513 -148
Taxation 7 144* -41
---------------------------------------------------------------
Net profit (loss) -1,369 -189
---------------------------------------------------------------
Net profit attributable to:
Owners of the company -1,369 -189
Non-controlling interests - -
------------------------------------------------
Net profit (loss) -1,369 -189
------------------------------------------------
Earnings per share
Basic 16 -0.06 -0.01
-------------------------------
Diluted 16 -0.05 -0.01
-------------------------------
* These items are still under discussion with our auditor. The audit has not yet
been completed.
Consolidated statement of balance sheet
--------------------------------------------------------------
(x EUR 1,000) Notes Unaudited Audited
2014 2013
--------------------------------------------------------------
Assets
Property, plant and equipment 8 5,567 5,446
Intangible assets 9 1,741* 1,741
Deferred taxes 10 1,079* 910
Financial assets 11 487* 497
--------------------------------------------------------------
Non-current assets 8,874 8,594
Inventories 12 344 283
Trade and other receivables 13 1,760 2,359
Cash and cash equivalents 14 192 711
--------------------------------------------------------------
Current assets 2,296 3,353
--------------------------------------------------------------
Total assets 11,170 11,947
--------------------------------------------------------------
Equity and liabilities
Share capital 4,788 4,255
Share premium 18,084 17,851
Revaluation reserve 2,082 1,668
Retirement benefit reserve -2,204 -975
Retained earnings -21,266* -19,897
Mezzanine capital 2,494* 2,494
--------------------------------------------------------------
Group equity 15 3,978 5,396
Loans and borrowings 18 2,266 279
Retirement benefit obligation 19 2,738* 2,088
--------------------------------------------------------------
Non-current liabilities 5,004 2,367
Bank overdraft 14 - 1,537
Loans and borrowings 18 45 508
Trade and other payables 20 2,085 2,081
Current tax liabilities 18 58 58
--------------------------------------------------------------
Current liabilities 2,188 4,184
--------------------------------------------------------------
Total equity and liabilities 11,170 11,947
--------------------------------------------------------------
* These items are still under discussion with our auditor. The audit has not yet
been completed.
Consolidated cash flow statement*
-------------------------------------------------------------------------
Unaudited Audited
(x EUR 1,000) Notes 2014 2013
-------------------------------------------------------------------------
EBITDA -544 965
Adjustments for:
- Movements in provisions and pensions -141 -630
- Share-based payments 17 59 20
- Accrued interest 6 - -9
- Other adjustments -2 -
Changes in working capital
- Inventories 12 -61 22
- Trade and other receivables 13 599 -270
- Trade and other accrued liabilities 18,20 4 140
-------------------------------------------------------------------------
Cash generated from operating activities -86 476
Interest paid 6 -177 -221
-------------------------------------------------------------------------
Net cash from operating activities -263 17
Cash flows from investing activities
Acquisition of property, plant and equipment 8 -499 -535
Disposal of property, plant and equipment 8 - 567
Di-/investments in pension assets 19 -500 493
Proceeds from financial assets 11 10 452
-------------------------------------------------------------------------
Net cash from investing activities -989 977
Cash flows from financing activities
Proceeds from issue of share capital 15 707 400
Payment of compensation mezzanine capital 15 - -292
Proceeds from borrowings 2,550 50
Repayment of borrowings -903 -1,116
Payment of bond issuance costs 18 -100 -
Amortization of discount and bond issuance costs 18 16 -
-------------------------------------------------------------------------
Net cash flow from financing activities 2,270 -958
-------------------------------------------------------------------------
Net cash flow 1,018 36
-------------------------------------------------------------------------
Cash -/- bank overdrafts at 1 January 14 -826 -862
Cash -/- bank overdrafts at 31 December 14 192 -826
-------------------------------------------------------------------------
Net cash flow 1,018 36
-------------------------------------------------------------------------
* The audit has not yet been completed.
About RoodMicrotec
With 45 years' experience as an independent value-added service provider in the
area of micro and optoelectronics, RoodMicrotec offers fabless companies, OEMs
and other companies a one-stop shopping proposition. With its powerful solutions
RoodMicrotec has built up a strong position in Europe.
Our services comply with the industrial and quality requirements of the high
reliability/space, automotive, telecommunications, medical, IT and electronics
sectors.
'Certified by RoodMicrotec' concerns inter alia testing of products to the
stringent ISO/TS 16949 standard that applies to suppliers to the automotive
industry. The company also has an accredited laboratory for test activities and
calibration to the ISO/IEC 17025 standard.
The value-added services comprise inter alia (eXtended) supply chain management,
failure & technology analysis, qualification & burn-in, test- & product
engineering, production test (including device programming and end-of-line
service), ESD/ESDFOS assessment & training, quality & reliability consulting and
total manufacturing solutions with partners.
RoodMicrotec has branches in Germany (Dresden, Nördlingen, Stuttgart), the UK
(Bath) and the Netherlands (Zwolle).
Further information:
Philip Nijenhuis, CEO
Telephone: +31 (0) 38 4215216
Email: investor-relations(at)roodmicrotec.com
Website: www.roodmicrotec.com
RoodMicrotec- Provisional annual figures 2014:
http://hugin.info/130789/R/1902349/676394.pdf
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Source: RoodMicrotec N.V. via GlobeNewswire
[HUG#1902349]
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Datum: 11.03.2015 - 22:45 Uhr
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