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© mucella1 dreamstime.com Electronics Production | February 10, 2017

PKC increased its operating profit by 31% in 2016

During 2016, PKC reached its set operational targets. While revenue remained flat to 2015, both its EBITA and operating profit increased.
As stated before, revenues for 2016 remained at the same level as that of 2015 and amounted to EUR 846 million (EUR 847 million in 2015). The company’s EBITDA however increased 8.1% in 2016, climbing from EUR 59.52 million in 2015 to EUR 64.35 million in 2016. The company’s 2016 operating profit increased 31.2% from EUR 20.23 million in 2015 to EUR 26.57 million.

During the year the rolling stock business – which was acquired in 2015 – was successfully integrated as part of PKC and began to see profitable growth. Also, the company reports that its expansion into the Chinese truck market started to gain some traction. During the 2016 financial year, PKC established a joint venture with the JAC Group of China – which is expected to start operations by the end of Q2/17.

In January 2017 Motherson Sumi Systems Limited made public tender offer for all PKC shares and option rights.

“By combining both companies the target is to create world leading wiring harness and component company to serve transportation industry. This is exciting development for our company and employees, offering us new opportunities in many areas,” says CEO and president Matti Hyytiäinen in the company’s financial statement.

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May 22 2017 12:41 PM V8.2.1-1