Okmetic revises downwards its guidance for 2016
(Thomson Reuters ONE) -
OKMETIC OYJ STOCK EXCHANGE RELEASE 20 JULY 2016 AT 4.30 P.M.
OKMETIC REVISES DOWNWARDS ITS GUIDANCE FOR 2016
During the early part of the year, the declining production volumes of
smartphones and the inventory adjustments of components that have continued
across the value chain have declined the demand for the advanced sensor wafers
of Okmetic. According to the updated demand forecasts, the market will remain
weak through the rest of the year. At the same time, there is tighter price
competition to win orders.
After the difficult market situation in the beginning of the year, the company
revises its guidance for 2016. In 2016, the net sales and operating profit
without items affecting comparability (previously operating profit without non-
recurring items) are estimated to decline from the levels of 2015. According to
the earlier guidance, the net sales were estimated to decline from the level of
the previous year and operating profit without non-recurring items was estimated
to exceed the level of 2015.
Okmetic Oyj will publish the interim report for Q2 2016 on Friday 22 July 2016.
New ESMA (European Securities and Markets Authority) guidelines on Alternative
Performance Measures (APMs) came into effect 3 July 2016. Okmetic presents APMs
to reflect the underlying business performance and to enhance comparability
between financial periods. APMs should not be considered as a substitute for
measures of performance in accordance with the IFRS. As of Q2 2016, Okmetic
relabels the previously referenced "without non-recurring items" with "without
items affecting comparability" (IAC).
Exceptional transactions outside the normal business operations are treated as
items affecting comparability. Such items, as defined by Okmetic, are income or
expenses from discontinued operations and the restructuring of operations,
impairment of assets, expenses related to the NSIG tender offer, and any other
transactions management has excluded as non-operational.
OKMETIC OYJ
Kai Seikku
President
For further information, please contact:
Kai Seikku, President
Tel. +358 9 5028 0232, e-mail: kai.seikku(at)okmetic.com
Juha Jaatinen, Senior Vice President, Finance, IT and Communications
tel. +358 5028 0286, e-mail: juha.jaatinen(at)okmetic.com
Okmetic supplies tailored, high value-added silicon wafers to be used in the
manufacture of sensors as well as discrete semiconductors and analog circuits.
Okmetic's strategic objective is profitable growth driven by a product portfolio
designed to meet customers' current and future technology needs. The core of the
company's operations is being genuinely close to the customers and understanding
their needs and processes.
Okmetic's global sales network, extensive portfolio of high value-added
products, in-depth knowledge of crystal growing, long-term product development
projects, as well as efficient and flexible production create prerequisites for
achieving the strategic targets. The company's headquarters is located in
Finland, where the majority of the company's silicon wafers is manufactured. In
addition to in-house manufacture, Okmetic has contract manufacturing in Japan
and China. Okmetic's shares are listed on Nasdaq Helsinki Ltd under the code
OKM1V. For more information on the company, please visit our website at
www.okmetic.com.
OKME3216 Change in guidance:
http://hugin.info/132025/R/2029666/754775.pdf
This announcement is distributed by GlobeNewswire on behalf of
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Okmetic Oyj via GlobeNewswire
[HUG#2029666]
Unternehmensinformation / Kurzprofil:
Datum: 20.07.2016 - 15:30 Uhr
Sprache: Deutsch
News-ID 484372
Anzahl Zeichen: 4399
contact information:
Town:
Vantaa
Kategorie:
Business News
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