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© fouquin-christophe-dreamstime.com Electronics Production | September 13, 2013

Incap lowers its estimate for revenue and result

The revenue and operating profit of Incap Group in 2013 are estimated to be smaller than previously forecasted.
Several customers have announced that their order volumes will drop during the latter part of the year, and also the transfer of material purchases from customers back to Incap has been postponed more than expected.

Furthermore, the weakening of the Indian rupee is decreasing the revenue calculated in Euros. Based on the updated calculations Incap estimates that the revenue for the latter part of the year will be approximately on the same level than for the first half of the year, when the revenue was EUR 20.5 million. Accordingly, the full-year revenue for 2013 is estimated to be significantly lower than in 2012.

The decrease in revenue is impacting on the result. Additionally, there are extra costs connected with the financing arrangement which were not included in earlier calculations. Therefore, the company estimates that the Group's operating result (EBIT) for the latter half of the year is negative, whereby the full-year operating result 2013 will be negative. The operating result for January-June 2013 amounted to EUR -1.8 million.

In the interim report for January-June 2013 published on 31 July 2013 the company estimated that the Group's full-year revenue would be clearly smaller than in 2012 and the full-year operating profit (EBIT) would be positive. In 2012 the Group's full-year revenue was EUR 64.1 million and the operating result (EBIT) EUR -0.7 million.

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