Ad
Ad
Ad
© fouquin-christophe-dreamstime.com Electronics Production | April 14, 2014

Incap improves operational results

Incap Corporation has reached a new financing agreement with its Finnish bank regarding the loan installment plan and the covenants related to financing.
Based on the re-negotiated loan installment plan and covenants, as well as the actual and the estimated financial development of the company, Incap changes its estimate in regards of the sufficiency of working capital for the next 12 months as given on 25 February 2014.

Incap keeps its guidance for revenue and profitability for the year 2014 unchanged. As stated earlier in stock exchange release on 25 February 2014, the company estimates that the Group's revenue in 2014 will be significantly smaller than in 2013 when the revenue amounted to EUR 36.8 million. The company estimates that the full-year operating result (EBIT) is positive. In 2013, the result was negative amounting to EUR -5.9 million.

Incap's CEO Fredrik Berghel: "Based on our improved operational results caused by the completed Turnaround project, the negotiation process with our bank reached a successful result and gave us room to develop our operations further. We are able to focus on the core of our business, delivering the best-in-class products to our customers. The recruitment of the new permanent CEO is also progressing rapidly and will also support us to reach our targets for coming years. I am confident that our latest developments and this new, positive news will give us a good opportunity to reach our goals."

Comments

Please note the following: Critical comments are allowed and even encouraged. Discussions are welcome. Verbal abuse, insults and racist / homophobic remarks are not. Such comments will be removed.
Further details can be found here.
Ad
Ad
Load more news
September 15 2017 9:25 AM V8.7.1-2